This report makes the case for building climate resilience as essential to future business survival. It projects that within 20 years, US$200bn of investment each year will be needed globally to combat US$1trn of losses from climate impacts. A third of this is likely to offer strong returns on investment. The balance will need more innovative public-private finance.
The report is aimed at leaders and decision makers in business, financial institutions and government. It is intended to inform discussion and elicit action that will enable them to protect investment, productive capacity and service quality, reduce risk and sustain profitability.
The report sets out the importance of:
- Recognising the escalating risk posed by climate events and taking action to build resilience understanding the need for investment in resilience to maintain business continuity and competitiveness
- Collaborating with public and private sector partners to find new ways to finance protection and adaptation
- Addressing climate impacts alongside 'business as usual' strategic, risk management, policy and regulatory, contractual and investment planning
- Fostering the culture shift that will be required to build resilience.