Two thirds of global firms see climate adaptation as an opportunity

Business Green: The message that climate change presents a business opportunity as much as a risk is getting through. According to a major new global survey of 700 top business executives undertaken by the Economist Intelligence Unit on behalf of UK Trade & Investment, almost two thirds of businesses now regard climate change and the need for adaptation measures as a commercial opportunity.

However, the report, entitled Adapting to an uncertain climate, a world of commercial opportunities, also revealed that 90 per cent of business leaders have seen their firms experience climate-related impacts in the past three years, with almost half observing that these impacts have increased. Moreover, only 30 per cent of firms said they are actively planning and making changes to their businesses in response to climate impacts.

But James Watson, contributing editor to the Economist Intelligence Unit and the author of the report, said a "small, but rising, proportion of firms" was beginning to deploy climate adaptation strategies and identify related commercial opportunities.

The survey found that 64 per cent see adapting to climate change as an opportunity, while almost half are conducting research into climate adaptation, and one in five have already generated revenue from adaptation measures…