With all the recent and fully justified attention being paid to the need for rapid societal decarbonization, there is a real danger of overlooking the other, equally important dimension of climate action: climate adaptation. In particular, the private sector appears to be largely neglecting the risks to business activity and all that underlies it due to a rapidly warming climate. These risks go well beyond the threat of new regulatory controls and episodic interruption of supply chains. Indeed, I believe that climate adaptation might be the most important unseen (or underemphasized) environmental, social, and governance (ESG) issue.

In support of this assertion, I have just completed work (with my long-standing friend and colleague Ira Feldman) on a report describing how a changing climate will affect not only people and property but also corporations, ESG and mainstream investors, and insurers. The ravages we saw last week from Ian are a small taste of what is to come, and we describe what the private sector must begin to do now to confront the challenges that lie ahead. The report can be found here (https://lnkd.in/eKEKcxFP).

I encourage you to read the report and join the conversation. We must all adapt to a changing climate. Now.

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