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Private Sector Engagement in Adaptation to Climate Change: Approaches to Managing Climate Risks

Author

Listed:
  • Shardul Agrawala

    (OECD)

  • Maëlis Carraro

    (OECD)

  • Nicholas Kingsmill

    (OECD)

  • Elisa Lanzi

    (OECD)

  • Michael Mullan

    (OECD)

  • Guillaume Prudent-Richard

    (AECOM)

Abstract

There is growing international interest in the planning, financing and implementation of adaptation to climate change. However, the discussion to date has primarily focused on the public sector’s role, with the private sector viewed primarily as a source of funding or financing. Relatively little attention has been paid to how the private sector is responding to the risks and opportunities from climate change. In this context, this analysis aims to contribute to a deeper understanding of private sector’s role. 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.

Suggested Citation

  • Shardul Agrawala & Maëlis Carraro & Nicholas Kingsmill & Elisa Lanzi & Michael Mullan & Guillaume Prudent-Richard, 2011. "Private Sector Engagement in Adaptation to Climate Change: Approaches to Managing Climate Risks," OECD Environment Working Papers 39, OECD Publishing.
  • Handle: RePEc:oec:envaaa:39-en
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    File URL: http://dx.doi.org/10.1787/5kg221jkf1g7-en
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    Citations

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    Cited by:

    1. Naghmeh Nasiritousi & Mattias Hjerpe & Björn-Ola Linnér, 2016. "The roles of non-state actors in climate change governance: understanding agency through governance profiles," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 16(1), pages 109-126, February.
    2. repec:gam:jsusta:v:10:y:2018:i:2:p:569-:d:133095 is not listed on IDEAS
    3. Fisher, Susannah & Surminski, Swenja, 2012. "The roles of public and private actors in the governance of adaptation: the case of agricultural insurance in India," LSE Research Online Documents on Economics 46400, London School of Economics and Political Science, LSE Library.
    4. Jennifer Steeves & Swenja Surminski, 2014. "Taking an organisational approach to private sector adaptation � the case of Tata Teleservices in India," GRI Working Papers 171, Grantham Research Institute on Climate Change and the Environment.
    5. Kennedy, Christopher & Corfee-Morlot, Jan, 2013. "Past performance and future needs for low carbon climate resilient infrastructure– An investment perspective," Energy Policy, Elsevier, vol. 59(C), pages 773-783.
    6. Rosina Bierbaum & Joel Smith & Arthur Lee & Maria Blair & Lynne Carter & F. Chapin & Paul Fleming & Susan Ruffo & Missy Stults & Shannon McNeeley & Emily Wasley & Laura Verduzco, 2013. "A comprehensive review of climate adaptation in the United States: more than before, but less than needed," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 18(3), pages 361-406, March.
    7. Swenja Surminski, 2015. "Does it matter what you call it? Reflections on how companies voluntarily disclose their adaptation activities," GRI Working Papers 210, Grantham Research Institute on Climate Change and the Environment.
    8. repec:gam:jsusta:v:9:y:2017:i:7:p:1132-:d:102958 is not listed on IDEAS
    9. Markus Groth & Annette Brunsmeier, 2016. "A cross-sectoral analysis of climate change risk drivers based on companies’ responses to the CDP’s climate change information request," Working Paper Series in Economics 364, University of Lüneburg, Institute of Economics.
    10. repec:eee:touman:v:58:y:2017:i:c:p:196-204 is not listed on IDEAS
    11. Marcelina Wieckowska, 2013. "The role bonds in financing climate resilient economy," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 2(1), pages 153-167.
    12. Martine Durand & Romina Boarini, 2016. "“Well-Being as a Business Concept”," Humanistic Management Journal, Springer, vol. 1(1), pages 127-137, September.
    13. Alina Averchenkova & Florence Crick & Adriana Kocornik-Mina & Hayley Leck & Swenja Surminski, 2015. "Multinational corporations and climate adaptation – Are we asking the right questions? A review of current knowledge and a new research perspective," GRI Working Papers 183, Grantham Research Institute on Climate Change and the Environment.
    14. Susannah Fisher & Swenja Surminski, 2012. "The roles of public and private actors in the governance of adaptation: the case of agricultural insurance in India," GRI Working Papers 89, Grantham Research Institute on Climate Change and the Environment.

    More about this item

    Keywords

    adaptation; adaptation; changement climatique; climate change; gestion des risques; private sector; risk management; secteur privé;

    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 - - - Environmental Economics: Government Policy

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