Adapting to climate change: a review of business adaptation practices in sustainability reports (Private Sector Initiative of the UNFCCC and Supersector Leaders of the DJSI)

Abstract

Supported by scientific evidence of observed impacts and projected scenarios of climate
change, this research investigates the engagement of the private sector in the efforts to adapt to
climate change. Specifically, it explores how companies are making use of their sustainability
reports in order to disclose actions intended to adapt their own business to climate change, and to
provide mechanisms of adaptation to the most vulnerable communities and countries across the
world.
To achieve this goal, sustainability frameworks provided by the Global Reporting Initiative
(GRI) and the United Nations Global Compact (UNGC), which serve as the basic structure of the
reporting process, are analysed and evidences whether their structures provide, or not, means for
disclosing practices of adaptation are examined.
In the next step, 48 sustainability reports of selected enterprises are analysed in order to
identify adaptation initiatives disclosed, and find signs whether companies have been reporting
their adaptation efforts regardless the structure of the framework applied. Selected companies are
partners of the Private Sector Initiative (PSI) of the Nairobi work programme (NWP) on impacts,
vulnerability and adaptation to climate change, programme carried out by the United Nations
Framework Convention on Climate Change and the enterprises selected to integrate the list 2012-
2013 Supersector Leaders of the Dow Jones Sustainability Index (DJSI).
From the collected and processed data arises an inventory of significant adaptation
practices found in the sustainability reports that well exemplify the variety of actions implemented
to tackle climate impacts. Recommendations for improving the scope of the sustainability
frameworks and a critical reflection on the methodology applied are discussed, among other
conclusions.