Climate adaptation is recognised by many of the world’s largest businesses as a global risk and one that requires critical attention. The World Economic Forum’s 2013 Global Risks Perception Survey, identified the ‘failure of climate change adaptation and rising greenhouse gas emissions as among those global risks considered to be the most likely to materialize within a decade’. Yet despite action by many transnationals and international firms, it seems evident that most Australian companies appear to be struggling to move forward in responding to climate change impacts, apparently paralysed by short-term profit-first thinking, uncertain political risks and a corporate culture unused to volatility and disruption.
This project shows that, on a whole, the Australian private sector is giving little consideration about the impacts climate change. This project has identified that considerable research gaps exist, but has also provided direction for organisations and researchers. Individual corporations and private sector peak bodies urgently need to explore the risks and opportunities that climate change and associated responses bring. This is especially so for the ICT, aviation, energy, insurance and finance sectors. To download the report from the NCCARF website click on the image (left) or click here.