As part of the Corporate Climate Resilience Pathways initiative, Resilience Rising, Resilience First, and The Center for Climate and Energy Solutions (C2ES) have launched a new report and set of principles which aim to help companies to enhance their climate resilience and ‘contribute to creating a global ecosystem of resilient business practices’.
The Climate Resilience Pathways: Catalyzing Private Sector Action report includes a set of guiding principles developed by and for the business community, crafted through a collaborative effort that includes nearly 70 thought leaders in climate, sustainability, strategy, and risk management.
The principles aim to foster a common understanding among industry leaders about corporate leadership and assert a common view that companies leading on climate resilience are:
- Science-based & Proactive: Companies acknowledge and assess the acute and chronic risks presented by the physical impacts of climate change and implement best practices and investments that enhance resilience across the value chain.
- Transparent & Accountable: Companies regularly measure and report assessed climate risks, adaptation actions, and their impacts in a consistent and transparent manner.
- Safeguarding & Enhancing: Companies employ practices that safeguard against maladaptation and increased vulnerability to physical climate hazards and strive to enhance the adaptive capacity of communities and natural ecosystems.
- Inclusive & Equitable: Companies strive to collaboratively engage value chains and local communities to understand and improve decision-making, contribute to systemic needs and priorities, and drive the implementation of equitable climate adaptation and resilience investments.
- Transformative: Companies support and pursue climate adaptation solutions that enable positive systems-level transformations within their organizations, industry sectors, and value chains, and in communities and natural ecosystems.
