Report: A Review of Climate Adaptation in the US

Events once considered “hundred year” disasters increasingly occur several times in individual lifetimes. In the face of urgent crisis, community leaders, businesses, nonprofits and individuals have seen a need to build resilience, to preserve human lives and the economies upon which they depend. Recognizing the emergence of a field of climate adaptation and seeking details on the field’s development, potential and challenges, the Kresge Foundation commissioned an assessment of the field of adaptation. This project culminated in a report, Rising to the Challenge, Together: A Review and Critical Assessment of the State of the US Climate Adaptation Field, by  Susanne C. Moser of Susanne Moser Research and Consulting, Joyce Coffee of Climate Resilience Solutions, and Aleka Seville, Four Twenty Seven’s Director of Community Adaptation at the time. Read the full press release below:

Download the Full ReportDownload the Executive Summary • Download the Appendices

————————————

The emerging field of climate adaptation is growing in sophistication and influence, but there is a significant gap between the magnitude of the challenge and existing efforts to protect people and property from climate volatility, according to a report released today.

“Rising to the Challenge, Together” provides a critical assessment of the state of the climate adaptation field in the U.S. It was commissioned by The Kresge Foundation and authored by a trio of adaptation experts: Susanne C. Moser of Susanne Moser Research and Consulting; Joyce Coffee of Climate Resilience Consulting; and Aleka Seville of Four Twenty Seven, Inc.

The report finds that the challenge of climate adaptation and resilience is an everyday reality for decision makers across the United States. Climate change is widely recognized as a critical – possibly existential – threat to humans, other species, and the natural systems on which all life depends. As climate impacts accelerate and population grows in vulnerable areas, disasters are more frequent and more devastating.  Supercharged storms, catastrophic wildfires, and deadly heatwaves affect growing numbers of Americans – particularly those with low incomes who are least able to avoid or minimize the impact of severe events.

Communities across the country are experimenting with adaptation, defined as the management of and preparation for the impacts of global climate change and related extremes. They are aided by a growing knowledge base and suite of tools, and boosted by new actors including utility managers, private sector interests and philanthropy.

However, the field is largely crisis-driven and fails to adequately address the social equity aspects of adaptation choices, that should ensure all people benefit regardless of socio-economic status or race.  It also lacks a shared vision, consistent funding and agreed upon best practices among other shortcomings, the report found.

“Our research revealed a growing core of professionals, committed municipal leaders, engaged community residents and others who are proactively identifying ways to make their cities and regions more resilient,” said author Susanne C. Moser. “But without much-accelerated efforts to expand and professionalize the adaptation field we fear communities, businesses and particularly the most vulnerable are at growing risk. To ensure their safety, well-being and prosperity, we must rapidly come together to slow the release of planet-warming greenhouse gases; invest in smarter, more resilient systems, infrastructure and planning practices; and do both while building social cohesion and equity.”

The report’s findings and recommendations were the basis of a next-steps conversation among several dozen climate-resilience experts and thought leaders at a January 22 workshop in Washington, D.C. At that meeting participants discussed ways to better disseminate promising resilience practices, embed climate resilience in planning and policymaking, and generate new financing mechanisms for the work.

The report recommends aggressive acceleration of adaptation planning, coordination across jurisdictions, and implementation among advocates, planners, and funders. Leaders must press the urgency of addressing climate change both through adaptation and mitigation – pushing the field to think bigger, bolder and deeper. At the same time, funding support must grow and policy incentives should be aligned to support the incorporation of resilience across different practices and sectors.

“This report highlights the urgency of building climate adaptation as a field of practice,” said Lois DeBacker, managing director of The Kresge Foundation’s Environment Program. “It is critical to expand the number of people who understand the imperative of acting quickly, which actions yield the best and most effective protections against climate change-fueled events, and how to approach climate resilience in ways that advance equity.”

————————————

Lenders’ Guide for Considering Climate Risk in Infrastructure Investments

Climate change poses multifaceted physical risks for infrastructure investors, affecting revenue, maintenance costs, asset value and liability. According to the New Climate Economy report, global demand for new infrastructure investment could be  over US$90 trillion between 2015 and 2017. It is becoming increasingly clear that climate change must be considered in all infrastructure investment and construction.

Four Twenty Seven, in collaboration with our partners Acclimatise and Climate Finance Advisers, published a “Lenders’ Guide for Considering Climate Risk in Infrastructure Investments” to explain the ways in which physical climate risks might affect key financial aspects of prospective infrastructure investments.

Climate Change and Infrastructure

The guide begins with a discussion of climate risk, acknowledging that climate change can also open opportunities such as improving resource efficiency, building resilience and developing new products. It provides a framework for questioning how revenues, costs, and assets can be linked to potential project vulnerability arising from climate hazards.

Revenues: Climate change can cause operational disruptions that lead to a decrease in business activities and thus decreased revenue. For example, higher temperatures alter airplanes’ aerodynamic performance and lead to a need for longer runways. In the face of consistently higher temperatures, airlines may seek airports with longer runways, shifting revenue from those that cannot provide the necessary facilities.

Costs/Expenditures: Extreme weather events can cause service disruptions, but can also damage infrastructure, requiring additional unplanned repair costs. For example, storms often lead to downed power lines which disrupts services but also necessitates that companies spend time and money to return the power lines to operating conditions.

Assets: Physical climate impacts can decrease value of tangible assets by damaging infrastructure and potentially shortening its lifetime. Intangible assets can be negatively impacted by damages to brand image and reputation through repeated service disruptions.

Liabilities: Climate change is likely to pose increasing liability risk as disclosure and preparation requirements become more widespread. As infrastructure is damaged and regulations evolve, companies may face increased insurance premiums and costs associated with retrofitting infrastructure and ensuring compliance.

Capital and Financing: As expenditures increase in the face of extreme weather events, debt is also likely to increase. Likewise, as operations and revenues are impacted and asset values decrease, capital raising may become more difficult.

The guide also draws attention to the potential opportunities emerging from resilience-oriented investments in infrastructure. There are both physical and financial strategies that can be leveraged to manage climate-related risks, such as replacing copper cables with more resilient fiber-optic ones and creating larger debt service and maintenance reserves.

Climate Risks and Opportunities: Sub-Sector Snapshots

The guide includes ten illustrative “snapshots” describing climate change considerations in the example sub-industries of Gas and Oil Transport and Storage; Power Transmission and Distribution; Wind-Based Power Distribution; Telecommunications; Data Centers; Commercial Real Estate; Healthcare; and Sport and Entertainment. Each snapshot includes a description of the sub-sector, an estimation of its global potential market, examples of observed impacts on specific assets, and potential financial impacts from six climate-related hazards: temperature, sea-level rise, precipitation & flood, storms, drought and water stress.

Commercial real-estate, for example, refers to properties used only for business purposes and includes office spaces, restaurants, hotels, stores, gas stations and others. By 2030 this market is expected to exceed US $1 trillion per annum compared to $450 billion per annum in 2012. Climate impacts for this sub-sector include hazard-specific risks and also include the general risk factor of climate-driven migration which drives shifts in supply and demand in the real estate market.

As heat waves increase in frequency, people will likely seek refuge in cool public buildings, leading to increasing property values for those places such as shopping malls that provide air-conditioned spaces for community members. Increasing frequency and intensity of storms may damage commercial infrastructure, leading to recovery costs and increased insurance costs. Real estate managers may have to make additional investments in water treatment facilities to ensure the viability of their assets in regions faced with decreased water availability. An example of the financial impacts of climate change on this sub-sector can be seen in Houston after Hurricane Harvey. After the hurricane hit Texas in August 2017, approximately 27% of Houston commercial real estate was impacted by flooding and these 12,000 properties were worth about US$55 billion.

Download the Lenders’ Guide. 

For more guidance on investing for resilience, read the Planning and Investing for a Resilient California guidance document and the GARI Investor Guide to Physical Climate Risk and Resilience.

GARI Investor Guide to Physical Climate Risk and Resilience

The impacts of climate change remain a new topic for many investors. How to think about the many implications of droughts, floods, storms and sea level rise on complex financial portfolio and assets?

The Investor Guide to Physical Climate Risk and Resilience, published by the Global Adaptation and Resilience Investor (GARI) working group, provides a  “plain language” introduction for investors to physical climate risk and resilience. It describes physical climate risk and resilience, explains why it matters to investors, and suggests practical actions investors can take.

Specifically, the guide suggests investors can manage the physical effects of climate change on investments, and seize climate-resilience investment opportunities in three ways: investigating the physical impacts of climate change on asset values, requiring asset managers and advisors to consider climate risk, and allocating capital to climate-resilient investment.

As evidence of climate change’s impact on all asset classes mounts, investors should consider starting to understand, assess, and mitigate their climate risk exposure. The time has come to address climate risk.

Download the GARI 2017 Investor Guide

Read the press release:

‘TIME HAS COME’ TO ADDRESS CLIMATE RISK, SAY GLOBAL INVESTORS AT PARIS SUMMIT

PRACTICAL INVESTOR GUIDE TO PHYSICAL CLIMATE RISK AND RESILIENCE PUBLISHED BY GLOBAL ADAPTATION & RESILIENCE INVESTMENT WORKING GROUP AT ONE PLANET SUMMIT IN PARIS

Paris, France – December 12, 2017: The “time has come” for investors to address climate risk, concludes the Investor Guide to Physical Climate Risk and Resilience released today by the Global Adaptation & Resilience Investment Working Group (GARI) at the One Planet Summit in Paris, France, where nations of the world are meeting to advance the aims and ambitions of the Paris Agreement. The summit is being hosted by the President of the French Republic, Emmanuel Macron, the President of the World Bank Group, Jim Yong Kim, and the Secretary-General of the United Nations, António Guterres.

The GARI Investor Guide provides a “plain language” introduction for investors to physical climate risk and resilience. It describes physical climate risk and resilience, explains why it matters to investors, and suggests practical actions investors can take.  Specifically, it suggests investors can manage the physical effects of climate change on investments, and seize climate-resilience investment opportunities in three ways: investigating the physical impacts of climate change on asset values, requiring asset managers and advisors to consider climate risk, and allocating capital to climate-resilient investment.

“We believe the time is now for investors to consider both physical climate risk as well as the opportunity to invest in climate resilience,” said Jay Koh, Managing Director of The Lightsmith Group, Chair of GARI, and a lead author of the GARI Investor Guide. “The investment risks and opportunities created by climate change are immediate and increasing.”

“Leading investors have started using practical tools today to screen and assess their equity, credit, and real asset portfolios for physical climate risk,” stated Emilie Mazzacurati, CEO of Four Twenty Seven and another lead author of the GARI Investor Guide. “There’s no need to wait to understand the impacts of climate change on financial markets.”

“Understanding physical climate risk can guide investors’ decisions today, both to reduce exposure to risk and seize climate resilience investment opportunities,” concluded Chiara Trabacchi, Climate Finance Specialist at IDB Invest, and the third lead author of the GARI Investor Guide. “The Investor Guide is a tool for investors that want to anticipate the risk – rather than experience it – and to deliver long-term value.”

============

ABOUT THE GLOBAL ADAPTATION & RESILIENCE INVESTMENT WORKING GROUP (GARI)

The Global Adaptation & Resilience Investment Working Group (GARI) is a private investor-led initiative announced at COP21, the global climate summit in Paris in 2015. GARI is a partner of the UN Secretary General’s A2R Climate Resilience Initiative. GARI has brought together over 150 private and public investors, bankers, leaders and other stakeholders to discuss critical issues at the intersection of climate adaptation and resilience and investment with the objective of helping to assess, mobilize and catalyze action and investment. It released a first discussion paper, “Bridging the Adaptation Gap,” at the COP22 Marrakesh global climate summit in 2016. For more information on GARI, please see: www.garigroup.com.

Local Adaptation Planning – Process Guide

United States cities already face challenges from climate change due to impacts on communities, infrastructure and other assets and resources. Local jurisdictions that repair infrastructure, make land use decisions, and engage communities in a way that accounts for ongoing and future change can help make their cities more resilient. A growing number of local jurisdictions are adopting plans and engaging in voluntary commitments to mitigate and adapt to climate change. A wide range of available resources makes this possible, and climate legislation increasingly requires it, but both can also make implementing a cohesive, streamlined adaptation strategy difficult. This Process Guide outlines an effective adaptation planning process for local governments.

Through our work assisting eight cities in Alameda County in responding to California’s Senate Bill No. 379 Land Use: General Plan: Safety Element (Jackson) (SB 379), Four Twenty Seven has developed a streamlined process to support local governments in their efforts to integrate climate risks into key planning efforts, such as local hazard mitigation plans, general plans, and climate action plans. SB 379 requires cities and counties in California to incorporate adaptation and resilience strategies into General Plan Safety Elements and Local Hazard Mitigation Plans starting in 2017. Our process for effective climate adaptation planning includes 1) a hazard assessment to determine vulnerability and 2) identification of appropriate adaptation options.

By starting with a climate hazard assessment, cities can identify the specific hazards that pose the greatest threats to their assets. After applicable climate hazards are identified, it is important to develop adaptation plans that build on and can be integrated into existing city policies. This Guide outlines our process for assisting cities with adaptation planning, and identifies useful resources, tools and process elements to inform integrated climate hazard assessment and adaptation planning.

Download the full Process Guide.

Read a Case Study on Integrating Climate Risks into Local Planning in Alameda County and learn about our advisory services in adaptation planning, policy consulting and vulnerability assessments.

Physical Climate Risk in Equity Portfolios

November 8, 2017 – 427 REPORT.  Four Twenty Seven’s Equity Risk Scores help investors identify climate risk exposure in their portfolios and design new investment strategies.  Our methodology tackles physical risk head on by identifying the locations of corporate production and retail sites around the world and their vulnerability to climate change hazards, such as sea level rise, droughts, floods and tropical storms, which pose an immediate threat to investment portfolios. This jointly published report explains our equity risk scoring methodology, features a relative risk ranking of CAC40 companies and discusses particular vulnerabilities in Asia. 

At COP23 Four Twenty Seven and Deutsche Asset Management jointly released a report featuring a new approach to climate risk management in equity portfolios. Measuring Physical Climate Risk in Equity Portfolios showcases Four Twenty Seven’s Equity Risk Scoring methodology, which identifies hotspots in investment portfolios by assessing the geographic exposure of publicly-traded companies to climate change.

This comprehensive, data-driven scoring effort culminates in a composite physical risk score that allows for comparison and benchmarking of equities and indices.  This integrated measure provides a point of entry to understand and address climate risk, engage with corporations and identify risk mitigation strategies. “This report is a major step forward to addressing a serious and growing risk that investors face. To keep advancing our efforts, we believe the investment industry needs to champion the disclosure of once-in-a-lifetime climate risks by companies so we can assess these risks even more accurately going forward,” said Nicolas Moreau, Head of Deutsche Asset Management.

Key Takeways

  • Four Twenty Seven’s equity scoring methodology includes Operations Risk, Supply Chain Risk and Market Risk, accounting for differential vulnerability to climate hazards between industries, asset types and locations.
  • Four Twenty Seven screens each corporate site for its exposure and sensitivity to a set of climate hazards including extreme precipitation, sea level rise, hurricanes, heat stress, water stress and wildfires.
  • To calculate Supply Chain Risk and  Market Risk, Four Twenty Seven uses companies’ financial data, such as revenues and production.
  • China leads the world in terms of coastal risk, with 145 million people and economic assets located on land threatened by rising seas, and countries throughout Asia are particularly vulnerable to climate risk.
  • The Thailand floods of 2011 led to vast repercussions across industries, including car manufacturers, Thailand’s rice industry and even tourism.

Read the report and contact us for more information about our products for financial institutions and corporations.

———————————–

Four Twenty Seven’s ever-growing database now includes close to one million corporate sites and covers over 1800 publicly-traded companies. We offer subscription products and advisory services to access this unique dataset. Options include data feeds, an interactive analytics platform and company scorecards, as well as custom portfolio analysis and benchmarking.

Delaware’s Climate-Ready Workforce Pilot Project

Changing climate conditions threaten the health and safety of the State of Delaware’s most important assets: its workforce. Building on momentum at the state level to assess climate risks and implement relevant adaptation actions, Four Twenty Seven worked with five state agencies to identify and protect at-risk workers from the impacts of extreme events such as storms, floods, and high temperatures. Based on an evaluation of existing policies, key informant interviews, and surveys, Four Twenty Seven provided recommendations to more explicitly incorporate climate considerations, share agency good practices, and strengthen the fundamentals of current policies and procedures by improving processes for policy development, implementation, and enforcement. The findings from this project will be used to inform state agencies’ consideration of next steps with regard to health, safety and climate change.

Download the summary report

View the Delaware Climate-Ready Workforce Presentation

 

California Heat & Health Project

California's Fourth Climate Change Assessment

As part of California’s Fourth Climate Change Assessment, Four Twenty Seven is working with project partners to develop a tool that will inform long-term planning efforts to communicate the urgency of and mitigate the public health impacts of increasing extreme heat events across the state.

The Challenge of Heat Events in California

The number of extreme heat days in California are projected to increase from currently around ten a year to 25-50 by 2050, and upwards of 100 by the end of the century. Extreme heat has major impacts on human health, especially on the most vulnerable populations.

The California Heat & Health Project is funded by the California Energy Commission as part of the California Fourth Climate Change Assessment to develop an interactive, user-friendly tool that will provide public health and planning stakeholders with detailed projections on extreme heat events and the potential health impacts for local communities.

User Needs Report

California Heat & Health Project: A Decision Support ToolTo better inform this tool, we conducted a robust literature review and user needs assessment to understand how the California Heat and Health Project can best inform and improve current efforts in all California regions. Our report outlines our key findings from this research including results from an online survey and interviews with public health, planning and emergency preparedness stakeholders throughout California.

Our research shows the limitations of emergency response to prevent the health impacts of heat waves. The greatest strides can be made through interventions planned well ahead of time, such as changes in the urban design and social programs. Therefore, we conclude that a new online decision support tool is best geared towards informing mid and long-term interventions to reduce the public health impacts of extreme heat.

The online decision support tool is currently in development, and will be available in the fall of 2017 through Cal-Adapt, the state’s adaptation portal.

Download the report

 


 

Founded in 2012, Four Twenty Seven is an award-winning climate risk and resilience research and advisory firm that brings climate intelligence to economic and financial decision-makers. Four Twenty Seven helps investorsFortune 500 companies and government institutions understand how to quantify and monetize climate change impacts on operations as well as social factors that affect their value chain. Customers rely on Four Twenty Seven’s tools and models to factor into financial and operational planning processes. Four Twenty Seven’s team is comprised of highly qualified professionals with backgrounds in climate science, economics and finance, natural resources management, policy analysis, public health, and international development.

Bridging the Adaptation Gap

gari-investmentmapping
GARI maps opportunities to invest in climate adaptation and resilience

The Global Adaptation & Resilience Investment Working Group (GARI) was launched at Paris COP21 in conjunction with the UN Secretary General’s A2R Climate Resilience Initiative. GARI brings together private investors and other stakeholders to focus on the practical intersection of investment and climate adaptation and resilience.

At COP22, GARI released Bridging the Adaptation Gap, a discussion paper focused on (1) Approaches to Measurement of Physical Climate Risk and (2) Examples of Investment in Climate Adaptation and Resilience” and summarizes the discussions of over 150 private investors and other stakeholders who met five times in 2016. Four Twenty Seven served as a contributing author to the paper.

The survey showed that over 70% of private investors surveyed see both risk and investment opportunity from the impact of climate change.  According to GARI, 78% of 101 surveyed investors and other stakeholders thought evaluating the physical risk from climate change was “very important,” while 70% would consider making investments that supported adaptation to climate change or climate change resilience now.

The report identifies six different approaches to measuring physical climate risk and reveals that respondents consider transparency and practicality the most important factors in approaches to assess physical climate risk.  It also catalogs existing infrastructure, corporate, and fixed asset investments that support adaptation and resilience to climate change.  Over 60% of respondent investors are considering investments today in resilient infrastructure and in companies whose products address the impact of climate change on water, agriculture, healthcare, energy, and financial services.

Download the discussion paper.

Read the press release.


Founded in 2012, Four Twenty Seven is an award-winning climate risk and resilience research and advisory firm that brings climate intelligence to economic and financial decision-makers. Four Twenty Seven helps investors, Fortune 500 companies and government institutions understand how to quantify and monetize climate change impacts on operations as well as social factors that affect their value chain. Customers rely on Four Twenty Seven’s tools and models to factor into financial and operational planning processes. Four Twenty Seven’s team is comprised of highly qualified professionals with backgrounds in climate science, economics and finance, natural resources management, policy analysis, public health, and international development.

Policy Brief: Climate Adaptation in the California Budget

California is a leader on climate resilience and adaptation efforts in the U.S. Yet translating adaptation policies into clear budget priorities can be a challenge. This Policy Brief provides a detailed analysis of the California budget for FY 2016-2017 with regard to adaptation and resilience spending, with an eye to lessons learned for other states and opportunities for improvement and clarification for future budgets.

California’s adaptation policy builds on a growing body of legislation – namely, SB246, AB1482, SB379, and Executive Order B-30-15 highlight California’s commitment to adaptation and resilience, as do numerous state and local programs. We found that these priorities are reflected in the 2016-2017 State budget, but somewhat disjointedly.

Governor Brown’s proposed budget, which the legislature passed on July 15, does not allocate specific amounts to programs labeled as adaptation- and resilience-focused. Rather, it supports programs related to drought resiliency, infrastructure upgrades, climate change, and other issues. Therefore, tracking resilience-specific finance is difficult; to overcome this challenge, we analyzed the 2016-2017 budget by looking at both specific sections of the budget and policies that relate to climate hazards. Within certain sections, we were able to compare allocations that support climate resilience to the total allocations for sector initiatives. Policies related to hazards include those designed to protect vulnerable populations and the overall strength of the state to respond to disasters.

In our view, California’s latest budget does not yet adequately address the state’s adaptation challenges, nor does it fully reflect the state’s priorities. However, with the final round of legislation passing before the close of the legislative year on August 31, 2016, the State set itself up for success by addressing gaps in allocations, prioritizing environmental justice and setting the stage to clarify cross-departmental standards for addressing climate change. It is now essential that the state move forward with the implementation of these initiatives in a clear, communicative way, in order to ensure that state funds engender climate resilience.

Download the full policy brief (PDF)

The Business Case for Responsible Corporate Adaptation

Four Twenty Seven was the lead author on the latest Caring for Climate report on responsible corporate adaptation, developed in cooperation with the UN Global Compact, UNFCCC and UNEP, and their partners.

With this new publication, Caring for Climate compiles and showcases a wide range of corporate and public-private adaptation practices in different sectors and regions in order to:

  • Raise awareness about the benefits of implementing climate risk assessments, and inform companies about subsequent adaptation activities that can be taken to mitigate those risks.
  • Inspire other companies, regardless of size and geography, to implement private adaptation strategies and activities that also contribute to increasing societal resilience and meeting the SDGs.
  • Highlight opportunities for policymakers to address the barriers that may hinder corporate adaptation activities.
The report, The Business Case for Responsible Corporate Adaptation: Strengthening Private Sector and Community Resilience explores the business case for responsible corporate adaptation to climate change. It provides a conceptual framework and tools, supported by a series of in-depth case studies of companies taking the lead in building resilience and adaptation strategies.
How businesses support community resilience.
How businesses support community resilience.
Responsible corporate adaptation encompasses the strategies, actions and partnerships through which businesses adapt to climate impacts and at the same time create shared resilience benefits for the communities and ecosystems where they operate. The report shows that when companies take action to support and empower the communities they depend on, they also reap the benefits.
Download the full report here.

Report Summary

WhatIsRCAChapter 1

Chapter 1 discusses the definition and benefits of responsible corporate adaptation. The case studies featured in the report show that companies engage in corporate adaptation to achieve one or several business benefits: improving their operations and competitiveness; protecting their value chain; leveraging new business opportunities; and strengthening their corporate brand. The case studies illustrate how community vulnerability to climate change risks can be factored into analysis and decision-making processes and highlight the projects’ business and community benefits.

Chapter 2

BarrierstoCorpAdaptChapter 2 builds on recent literature and the collection of case studies featured in this report to identify barriers to corporate adaptation, and highlights how the companies profiled overcame those barriers. The key barriers identified include information gaps and risk uncertainty, the challenges in integrating short-term and long-term planning, the lack of incentives, challenges in accessing financing, and policy, regulatory and socio-cultural barriers.

Chapter 3

Chapter 3 presents a compilation of 17 case studies of responsible corporate adaptation. The projects span several sectors and regions of the world (see map below), and incorporate diverse solutions to an equally diverse set of climate risks. Each case study examines a specific climate risk threatening the company’s operations, and explores the innovative process undertaken to address related concerns.

Chapter 4

Recommendations for Business Leaders
Recommendations for Business Leaders

Chapter 4 closes with recommendations for business leaders and policymakers on how to accelerate responsible corporate adaptation, strengthen collaboration and incentivize the development of adaptation solutions.

Key recommendations for business leaders include:
  • Identify critical climate risks and uncover opportunities;
  • Determine your company’s climate adaptation strategy;
  • Develop strategic partnerships focused on shared value creation;
  • Report on progress and increase transparency.

For policymakers, the recommendations are:

  • Build a foundation for private sector investments  and action;
  • Align public and private adaptation interests;
  • Leverage private resources and market forces for the public good.
Map of case studies featured in the report
Map of case studies featured in the report
Download the full report here.

About the Authors

A Caring for Climate Report by the United Nations Global Compact (UN Global Compact), the secretariat of the United Nations Framework Convention on Climate Change (UNFCCC) and the United Nations Environment Programme (UNEP), in cooperation with UNEP DTU Partnership, CDP, CEO Water Mandate, Four Twenty Seven, Oxfam, Rainforest Alliance, ARISE (through PwC), University of Notre Dame (ND -GAIN) and World Resources Institute (WRI).