Business Adaptation to Climate Change: A Systematic Review of the Literature

Submitted by Michael Rastall | published 8th Aug 2013 | last updated 17th Mar 2020
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This executive report is a short summary of the Network for Business Sustainability's systematic review on adaptation to climate change. This document summarises the key findings of the systematic review and provides a list for executives who want to learn more about helping their business adapt to climate change.

Executive Summary

There is no common definition of business adaptation to climate change, despite a growing realization that businesses will need to adapt. Adaptation strategies vary by sector. Most businesses have not undertaken major adaptation measures, instead assuming a ‘wait and see’ approach. The insurance sector is a leader in risk assessment and agriculture and tourism have the highest awareness of climate impact. Managers should openly discuss adaptation within their organization and collaborate with stakeholders to develop shared definitions and strategies. Timing is essential, as are ensuring alignment of adaptation measures with overall firm policy and commitment within the organization. Researchers must bolster business practice with solid empirical research.