- 1997-0900 (online)
Private Sector Engagement in Adaptation to Climate Change: Approaches to Managing Climate Risks
- Shardul Agrawala1, Maëlis Carraro1, Nicholas Kingsmill1, Elisa Lanzi1, Michael Mullan1, Guillaume Prudent-Richard2
- Author Affiliations
- 1: OECD, France
- 2: AECOM, Australia
- 30 Nov 2011
- Bibliographic information
This paper examines the private sector’s progress in adapting to climate change by considering information from sixteen case studies, drawn from a range of industries across the private sector. This is complemented by a high-level analysis of broader private sector adaptation based on responses to the 2009 Carbon Disclosure Project questionnaire. The case studies provide insight into companies’ awareness of potential climate risks and vulnerabilities, their progress in assessing specific impacts on their businesses and possible ways to respond to them, and their implementation of adaptation measures and strategies to manage these risks. The analysis also examines how companies are taking advantage of new business opportunities arising from climate change.
The paper explores companies’ motivations for implementing adaptation measures, and establishes common factors which can affect companies’ capacities to adapt, their incentives for action, and their perspectives on the need to adapt. The analysis considers how these factors can both encourage and impede adaptation, and assesses potential public sector roles for eliminating barriers to action, encouraging engagement and incentivising private sector investment in adaptation.
- adaptation, private sector, risk management, climate change
- JEL Classification:
- M19: Business Administration and Business Economics; Marketing; Accounting; Personnel Economics / Business Administration / Other
- Q54: Agricultural and Natural Resource Economics; Environmental and Ecological Economics / Environmental Economics / Climate ; Natural Disasters and Their Management ; Global Warming
- Q58: Agricultural and Natural Resource Economics; Environmental and Ecological Economics / Environmental Economics / Government Policy