Climate risks and adaptation

Even with rapid reductions in greenhouse gas emissions, inertia in the climate system means that rising temperatures, changing rainfall patterns, changes in extreme weather events and sea level rise are unavoidable. These impacts will have consequences for water supplies, infrastructure, agriculture, business operations, social services, healthcare, human lives and many other areas vital to economic and social development.

Adapting to a changing climate is critical issue for policymakers and decision-makers across business and society. Policymakers will need to develop policies and investment priorities that enable climate-resilient growth, whilst businesses will need to adapt as climate change affects their operations, their markets, their supply chains and their investment decisions. Adaptation is about thinking ahead.

The issues

Organisations seeking to minimise risks from climate change must consider:

  • Climate risk assessment to identify and prioritise key threats and opportunities, timeframes, sensitive decisions/policies, and value implications
  • Analysis of climate risk management/adaptation strategies to identify robust and cost-effective options
  • How to finance the adaptation response
  • How to respond to emerging regulations and reporting requirements.

How we can support you

Private Sector

Our services aim to build climate change resilience into our clients’ businesses by providing a comprehensive risk assessment of the current and future climate risks across their value chains and investment portfolios. Key services include:

  • Climate risk assessments for businesses to identify vulnerabilities, priority risks, risk management strategies and cost implications across a value chain.
  • Climate risk mapping for investors.

UK Public sector

We advise our public sector clients on how to assess climate impacts and then prioritise and implement appropriate adaptive action, integrated with their wider sustainability and service transformation programmes. The adaptation-relevant component includes:

  • Climate change risk assessments
  • Development of adaptation plans, programmes and strategies
  • Business cases for change or investment
  • Advice on how best to engage the private sector
  • Advice on financing, capacity-building and decision-making processes. 
  • Adaptation-relevant advice to the assurance we provide, reviewing progress and preparing reports for publication and audit.

International Development Sector

PwC’s existing international network of climate change and development professionals constitutes over 1000 people in more than 100 countries who support governments, donors and NGOs across the globe on issues from policy development through to implementation. Key issues related to adaptation:

  • Advice on climate resilient (and low carbon) development planning
  • Advice on engaging the local and international private sector
  • Advice on financing adaptation, incl. the role of PPPs
  • Monitoring, assurance and evaluation of adaptation strategies and programmes

Case study

PwC was commissioned by the London Climate Change Partnership to undertake a study into embedding climate change adaptation into public procurement.  The project scoped the high-level legal and economic case, identified good practice and made recommendations for improving the use of public procurement to drive climate-resilient construction, infrastructure and refurbishments. 

Contact us

Dr Celine Herweijer

Partner, PwC Global Climate Change Leader

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