Mixed picture on climate adaptation in Dutch private sector – NLRC report
By the Climate Centre
Many Netherlands companies view the climate crisis seriously and are taking steps to reduce their emissions; at the same time, adapting to climate change “is still uncharted territory for many, while it is precisely climate adaptation that has a major impact on the future resilience of businesses.”
This is among the main conclusions of a new report from the Netherlands Red Cross – Adapting to the consequences of climate change: Touchpoints, practical tools and recommendations for your company – that also flags options for companies to support resilience in the Global South.
Businesses are themselves affected by the climate crisis, it says, through possible disruption of services, impacts on workers and products, and damage to value chains and reputation.
But at the same time it also opens up opportunities to develop “a competitive edge: investing now will reduce risk and ensures that a company can provide social significance, contributing to its reputation.”
Helga van Leur, NLRC ambassador and speaker on climate, sustainability and behaviour, says in a foreword that scientists are increasingly surprised by “the speed, intensity, magnitude or duration of climate-related weather extremes.
“In addition, it is also crucial to collaborate in advance on how to reduce vulnerability and increase resilience globally. This saves financial, physical and emotional damage afterwards.
“The experiences, ambitions and solutions shared by affected knowledge institutions, companies and the Netherlands Red Cross in this report can be a stepping stone to actions …”.
‘It is not just about reputation, but also
creating a sustainable future for all’
The NLRC research – which included interviews with academics and companies such as Ben & Jerry’s, FrieslandCampina, Nationale Nederlanden Bank, Triodos Bank, and TPV Europe, as well as the European Investment Bank and the Climate Centre – identified three touchpoints for businesses to invest in climate adaptation: risk management, business opportunities, and corporate social responsibility.
These in turn are accelerated by the growing importance of adaptation within existing guidelines on environmental, social and governance practice, as well as an increase in legal proceedings against companies that is driven by concerns about climate change and their role in it, and a new movement in philanthropy called effective altruism, aimed at maximising impact.
“Smart investment and innovation now will ensure that together we address the challenges of climate change and the impacts of extreme weather,” the report says.
It offers seven pillars for companies to directly reduce the “physical risks associated with climate change and [increase the] resilience of communities,” including protecting supply chains from climate impacts.
At the same time, it presents five tools companies themselves “are betting on to work on climate adaptation,” including the fostering of an “intrinsically motivated management team”.
Tess van Acker, Activism Manager at Ben & Jerry’s, told the authors: “It is important for companies to look beyond their immediate economic interests and to be aware of their impact on communities and the environment.
“Disaster prevention is a responsibility not only of governments but also of business. We call on companies to take sustainability and social impact seriously and actively engage in positive change.
“It is not just about reputation, but also about creating a sustainable future for all.”
The new Dutch Red Cross report, Adapting to the consequences of climate change: Touchpoints, practical tools and recommendations for your company, flags options for companies to support resilience in the Global South. (Image: NLRC)