State of Corporate Adaptation Survey
ND-GAIN and Four Twenty Seven, with support from Business for Social Responsibility (BSR), launched and published the State of Corporate Adaptation Survey to generate insights into whether and how enterprises are preparing for the physical impacts of climate change. The survey aims to further the collective understanding of timely best practices, barriers and enablers, and strategies to prepare for climate change in the corporate world.
Key Findings from 2015 State of Corporate Adaptation Survey:
- Thirty percent of respondents have faced or are experiencing impacts from climate change on their bottom line, sparked by droughts, super storms, social unrest and other disasters caused by climate change.
- More than 70 percent say they’re at least “somewhat concerned” that climate change will have a material impact on their value chain, in particular their supply chain, distribution and customers and markets.
- Two-thirds of respondents expressed concern over increased operational and capital costs and reported they had already experienced cost increases or thought they were a likely outcome.
- Water scarcity and political instability driven by climate change are cited as the top two anticipated risks across sectors. Water scarcity emerged as the climate hazard of greatest concern for corporations, with 16 percent citing it as a risk, followed by social and political instability driven by climate change, at 14 percent.
- Thirty percent of respondents currently have no climate adaptation plan. The remaining were most likely to have monitored climate risk in some capacity as part of their enterprise risk management (43 percent) or by looking at a specific driver of concern (29 percent).
Four Twenty Seven
Additionally, the Climate Change Risk Management (CCRM) application developed by Four Twenty Seven and Climate Earth leverages ND-GAIN’s free and open source data to enable large corporations to quickly map and quantify global supply chain risks due to climate change.