McKinsey Global Institute: Climate planning has prioritized floods. Heat demands equal attention

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The good news is that many companies already take adaptive actions without calling them such, designing facilities to withstand extreme weather events, building inventory buffers against supply chain shocks, and installing backup power to stay online through storms.

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Companies choosing to act have a wide range of options. First, they can directly protect their assets with on-site defenses like enhanced cooling systems, firebreaks, and microgrids, or by strategically locating new assets where risks are lower. For example, telecommunication companies are elevating equipment above flood lines and equipping cell sites with backup batteries to ensure continuous operation during and after major storms.

Second, companies can look beyond their own operations and strengthen resilience across supply chains, distribution networks, and their customers, employees, and communities. Examples range from financing community cooling centers and supporting ecosystem restoration to helping smallholder farmers in supply chains adopt practices such as crop diversification and rainwater storage that build resilience to drought.

Third, adaptation can also create business opportunities. Companies with expertise in resilient infrastructure, adaptation technologies, or innovative financing can create value while helping reduce adaptation costs. For example, providers of roofing and waterproofing systems, and heat-protective wearables that make people and buildings withstand heat and water damage stand to benefit from growing demand.

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