Companies often understand climate risk as the exposure of operations to a physical hazard (such as an extreme weather event, flood, drought, or sea-level rise). As a result, their strategies for resilience have typically focused on building infrastructure to withstand physical hazards and protect core operations. Similarly, companies have focused on their own operations when determining material risks, which means they have underestimated risks across the supply chain. Furthermore, companies may underestimate their capacity to build resilience through their innovations, products, and services and are therefore missing out on opportunities to demonstrate leadership, gain reputational value, and have a positive environmental impact.
Understanding private sector risk to climate change and designing guidance for engagement
This project seeks to map the landscape for climate change resilience thinking for private sector actors, and produce material that can be used by WWF to work with companies to address climate change in supply chains. Climate change is impacting agricultural production systems, and the ecosystems services on which they rely.
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