First the good news: business sees climate change as an opportunity.
That’s the findings of the recent Caring for Climate report by the United Nations Global Compact, United Nations Environment Program (UNEP), Oxfam, and World Resources Institute (WRI).
And now the bad: Climate change is also seen as a threat to business.
Businesses that adapt to climate change with community needs in mind can gain a competitive edge by:
- Avoiding costs, managing liabilities and building resilience to climate change impacts by addressing climate risks throughout their operations and value chains, while at the same time increasing community resilience.
- Expanding market share and creating wealth in communities by developing and deploying new products and services that help people adapt.
- Building corporate reputation and exercise good corporate citizenship by showing commitment to decreasing climate vulnerability and promoting long-term resilience in places where it is needed most.