Companies have two options going forward: transform or be transformed, according to a Feb. 28, 2022, report by the U.N.'s Intergovernmental Panel on Climate Change, or IPCC.
Companies can either make transformational changes now that will help them be resilient to the physical impacts of climate change in the future, or they can continue to be reactive and wait until climate change forces them to transform at an even greater cost, the IPCC finds.
In this episode of ESG Insider, we talk with one of the lead authors of the IPCC report, Dr. Edward Carr, who is also Director of the International Development, Community and Environment Department at Clark University. He was a lead author of the chapter in the IPCC report about climate resilient development pathways, which outlines the role companies and investors can play in adaptation.
The good news, according to Ed, is that companies are well-placed to develop longer-term adaptation plans and find new opportunities for transformation. At the same time, companies cannot do it alone. Governments, the private sector and the public must all work together to adapt to climate change and lower emissions.
Listen to our episode on the IPCC's August 2021 Group I report on the scientific basis for climate change here: https://soundcloud.com/esginsider/in-fighting-climate-change
We'd love to hear from you. To give us feedback on this episode or share ideas for future episodes, please contact hosts Lindsey Hall (lindsey.hall@spglobal.com) and Esther Whieldon (esther.whieldon@spglobal.com).
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