Corporate Climate Change Series. What gets measured gets managed – taking the initiative on climate adaptation, P4
- Shidonna Raven
- 6 hours ago
- 1 min read
January 13, 2024
Source: World Economic Forum
Photo / Image Source: Unsplash,
Measuring climate adaptation
The cost of adaptation will not be cheap. The UN Environment Programme estimates the annual cost of climate adaptation for developing countries at $315-565 billion by 2050. One way to catalyze greater progress is to justify that funding through measurable outcomes.
This is where we can make an impact: By creating the structural conditions necessary for private capital to flow into climate adaptation projects, as well as grow and optimize the use of public funds that will remain central to this battle.
One building block could be a more systematized, universal approach to measuring the impact of disparate climate adaptation interventions. Swiss Re Institute's latest report found that, on average, the benefits of climate change adaptation interventions outweigh costs by a ratio of 10:1. This model can be developed into a wider benefit-to-cost ratio (BCR), which is a universally valid, easy-to-derive and trackable metric.
Does your company have a climate change plan? Is it complaint with current climate laws? Why? Why not?
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