The business case for climate change adaptation: lessons from the public and private sector of coastal regions in Australia (2857)
Through consultation with NCCARF, stakeholders from across Australia expressed the need for guidance on how to mount the business case for incorporating adaptation into projects and overall organizational strategy. This presentation offers some answers, by reporting on the successful experiences of corporations and local governments in coastal regions of Australia. The study, funded by NCCARF, aimed at documenting how business cases were initiated, planned, calculated, completed and presented to internal and external decision-makers.
Cases were selected based on a criteria that included, for instance, the level of integration of adaptation into core business, consideration and costing of adaptation options, value return to the wider community, employment of collaborative approaches, and monitoring. Outcomes of the study provide useful information and practical advice to a range of stakeholders, including adaptation, climate change or sustainability champions in local governments and businesses, company directors, consultants, investors, financiers and the insurance industry. The research outcomes were incorporated into the CoastAdapt tool, a coastal climate risk management tool of NCCARF.