This report aims to help companies, and specifically, innovation leaders, prepare for the very real short-and long-term consequences of climate change for the chemicals industry. Here, climate adaptation is distinct from climate mitigation. Climate adaptation involves making fundamental changes to a company’s core operations to ensure resilience, whereas mitigation attempts to prevent climate change from occurring. Rather than focusing on individual or temporary fixes to the major challenges that climate change poses (e.g., building sea walls), this report highlights big-picture innovation and discusses how the structure of the industry will be changed by new logistical and production paradigms. It first uses case studies to highlight key climate-related consequences necessitating greater action to be taken and then presents innovation opportunities to reduce risk.