Business Case for Adaptation - Adaptation Committee

UNFCCC Adaptation
Posted on: 2/01/2024 - Updated on: 3/11/2024

Published

Abstract

Climate change impacts, along with changes in regulatory and business landscapes in anticipation of or in response to these impacts, pose significant risks to businesses in all sectors around the world. By helping companies prepare for and reduce these risks, adaptation - the act of making changes in processes, practices, and structures to moderate potential damage or benefit from opportunities associated with climate change-equips companies with the tools needed to help ensure business continuity and respond to changing market and environmental conditions.

Making the business case for adaptation generally precedes a company's decision to invest in adaptation action, and involves weighing the expected costs and risks of proposed actions against the expected returns and benefits. While the business case for adaptation must be tailored to each company and sector, there are many overarching risks and opportunities related to climate change impacts and adaptation that affect the private sector as a whole. 

This brief presents an introductory overview of some of these primary risks and opportunities.

Citation

Business Case for Adaptation (2019). United Nations Framework Convention on Climate Change (UNFCCC).

Affiliated Organizations

UNFCCC stands for United Nations Framework Convention on Climate Change. The Convention has near universal membership (198 Parties) and is the parent treaty of the 2015 Paris Agreement. The main aim of the Paris Agreement is to keep the global average temperature rise this century as close as possible to 1.5 degrees Celsius above pre-industrial levels. The UNFCCC is also the parent treaty of the 1997 Kyoto Protocol.