Protecting Our Capital: How Climate Adaptation in Cities Creates a Resilient Place for Business

This report from the Carbon Disclosure Project (CDP) and the C40 Cities Climate Leadership Group (C40) focuses on climate change adaptation activities reported globally by over 200 cities and more than 4,500 large companies to illustrate how action by city governments creates a resilient place for business. 

Data is analyzed from both cities and the private sector to better understand what impacts cities expect businesses could face from climate change, as well as how greater climate resilience makes cities more attractive to business. The report offers a number of ways cities can support increased community-wide resilience with benefits to both businesses and residents, including specific opportunities that have already been realized in progressive cities worldwide. 

This resource was featured in the July 18, 2014, ASAP Newsletter.

"It turns out that the Carbon Disclosure Project (CDP) is not all about carbon. Who knew? Their new report, Protecting our Capital focuses on adaptation efforts in 207 cities across the globe and how those efforts create a resilient place for business."

According to the results, cities are increasing their resilience to the impacts of climate change with a reported 757 adaptation activities, and 102 cities worldwide having climate adaptation plans. Cities are reducing the climate risks faced by citizens and businesses through investment in infrastructure and services, and by developing policies and incentives that influence ongoing action.

The data shows that the impacts of climate change could affect a wide range of business sectors, including ports, food production, and service industries. The impacts that cities expect businesses to encounter as a result of climate change are far-ranging, with damage to property, capital and non-transport infrastructure commonly identified. The finance and service industries in cities are directly affected by climate change threats including loss of utilities, building damage and rising operations costs.

Cities and companies are most aligned in recognizing risks from increased temperatures and heat waves, which have immediate impacts across the public and private sectors. For companies, temperature increases lead to higher utility bills, retrofitting costs and potential production losses. For city governments, changing temperatures directly impact human health, air quality and demand for utilities. 

In 2014, the 207 cities who have reported to CDP represent an 88% increase since last year, which the CDP attributes to a “groundbreaking” grant from Bloomberg Philanthropies.

 

Publication Date: July 2014

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