Authors: Karen Deignan, Aideen O’Hora, Orlaith Delargy, Laura Heuston and Conor Morrow
Summary: Climate change is already affecting Irish businesses and these impacts are likely to increase in severity. Our research identified material climate risks (pressures) for Ireland’s private sector. By raising awareness of climate risks and opportunities, this research can help the private sector identify and develop solutions to address the environmental and economic challenges that they face. This project can also inform the development of solutions to develop business-level (rather than sector-level) resilience and adaptation plans.
Climate change is already affecting Irish businesses and these impacts are likely to increase in severity. Our research identified material climate risks (pressures) for Ireland’s private sector. Many businesses focus on climate mitigation; they may be taking steps to reduce their energy use or increase recycling to improve efficiencies and reduce costs. However, awareness and understanding of climate adaptation is low. Mobilising action is challenging because of limited in-house specialist knowledge, time/resource constraints and the tendency to focus mainly on near-term risks. The direct engagement approach taken in this project aimed to create greater awareness among businesses of the financial impact of climate change, obtain feedback on the challenges that sectors face and discuss practices or regulation that would enable each sector to do more on climate adaptation.
The National Adaptation Framework notes that “the Government acknowledges the importance of complementary private sector action to address the impacts of climate change.” It furthermore states that “Each Minister and Agency, where appropriate, should seek to engage with private sector representatives for their respective sector/area in shaping and developing their adaptation plans.” This project has identified climate risks and opportunities at the sectoral level, and the work can inform policies to engage these sectors further to develop solutions and seize opportunities. For example, Enterprise Ireland and Industrial Development Agency Ireland (IDA Ireland) can use the findings to guide their sectoral policies.
By raising awareness of climate risks and opportunities, this research can help the private sector identify and develop solutions to address the environmental and economic challenges that they face. Some solutions, e.g. controlling flood risk, may need to be developed with the public sector. This project can also inform the development of solutions to develop business-level (rather than sector-level) resilience and adaptation plans. One potential solution is a practical, scalable workshop-based solution that can be rolled out nationally across the Irish private sector. Furthermore, the examples highlighted in this project can inspire other businesses to develop solutions.
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