Building Resilience: Business Adaptation to Climate Change

“Inaction is not an option. We must make progress on both mitigation and adaptation as quickly as possible,”

“Inaction is not an option. We must make progress on both mitigation and adaptation as quickly as possible,” stated Laura Burke, Director General of the Environmental Protection Agency. This sentiment is at the core of a pressing issue facing businesses today: climate adaptation.

Mitigation involves reducing or preventing the emission of greenhouse gases, whereas adaptation focuses on adjusting to the inevitable impacts of climate change. Climate adaptation often takes a back seat to reducing carbon emissions and pollution, yet both are equally important and inherently linked. This was the key message at the EPA’s annual climate change conference in May.

Scientific evidence shows our climate is changing, with extreme weather events in Ireland projected to increase in severity and frequency over the next 40 years. Even if we meet the 2050 targets, we will still face the consequences of historic emissions. While businesses must continue driving the transition to a low-carbon economy, we must also plan now for a different future to protect people, communities, infrastructure, the economy, and the environment.

On June 13th, the Sustainable Cork Programme hosted a webinar titled “Building Resilience: Business Adaptation to Climate Change.”

Speakers included Peter Medway, Climate Action Coordinator at Cork City Council; Ken Leahy, Associate Director at Arup’s Cork office; and Daniel Schmitz-Remberg, Founder of DSR & Partners: The Climate Adaptation Advisors.

Key Takeaways

Peter Medway highlighted the risks Cork faces from storms, flooding, and heatwaves. Europe, the fastest-warming continent, has seen its three warmest years on record since 2020, with the ten warmest since 2007. Temperatures are rising at about twice the global average rate, and extreme heat events that are rare today are projected to become more common.

According to the EPA 47% of people believe climate change is harming people in Ireland right now. However, many businesses are only beginning their adaptation journey and do not yet prioritise it. Inaction now can lead to a costly future, with climate change impacts projected to cost the global economy $54 trillion by 2040.

Climate adaptation preparations are underway in Cork. Ken Leahy discussed Arup’s projects in Cork focusing on integrated approaches to climate adaptation. Incorporating design elements in urban infrastructure, such as placemaking and biodiversity should be central to adaptation efforts. Working with nature and valuing biodiversity will become increasingly important for future solutions.

He stressed that adaptation measures will vary by country, region, sector, and scale. Organisations need to radically rethink what is important and how to plan and operate in the future. Placing communities at the heart of the decision-making process is crucial for delivering the necessary change.

Daniel Schmitz-Remberg presented a framework for analysing climate adaptation risks and emphasised that technology, innovation, and AI can play a significant role in developing solutions for climate adaptation. This includes improving the assessment and forecasting of climate risks in urban areas and providing early warnings for extreme events.

The urgency of climate adaptation cannot be overstated.

Businesses must recognise that mitigation alone is insufficient. As we confront an increasingly volatile climate, adaptation must become a priority. By integrating adaptation into business strategies and collaborating with nature, businesses can not only mitigate risks but also capitalise on new opportunities in a changing world. Building resilience is not just about survival, it’s about thriving in the face of adversity.