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Shift to Climate Adaptation: ESG Special Report I


In January 2023, the World Meteorological Organization issued a communiqué saying that the past eight years have been the warmest on record, driven by rising greenhouse gas (GHG) concentrations and accumulated heat.


In 2022, the global average temperature was about 1.15℃ above pre-industrial levels, and extreme heat waves, droughts and destructive floods affected millions of people around the world and caused billions of dollars in economic losses. The Sixth Assessment Report released by the Intergovernmental Panel on Climate Change (IPCC) in 2022 clearly pointed out that there is a big gap between the current action to limit global temperature rise and the Paris Agreement goal signed at the 21st Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) in 2015, that is, to limit the global temperature increase in this century to 2℃ while pursuing efforts to limit the increase even further to 1.5℃. 


As an active leader and doer of global climate governance, China has gradually established a sound adaptation system to climate change.


China's policy system for adapting to climate change

Mitigation and adaptation are two strategies to address climate change, and they are mutually reinforcing.


Mitigation refers to GHG emissions reduction and carbon sink increase by long-time adjustment of economic systems (ie, energy and industry) and natural ecosystems, to stabilize and reduce GHG concentration in the atmosphere and slow down climate change.


Adaptation refers to the reduction of adverse impacts and potential risks arising from climate change by strengthening risk identification and management of natural ecosystems and economic and social systems, taking adjustment measures, making full use of favorable factors and preventing adverse factors.

Background Knowledge

China will seek to basically build a climate-resilient society by 2035, with significant improvements in its ability to adapt to climate change, according to China's National Climate Change Adaptation Strategy 2035, jointly released by 17 administries and departments including the Ministry of Ecology and Environment.


The Strategy clarifies that from now until 2035, we should adhere to active, scientific, systematic and coordinated adaptation to climate change, keeping prevention first and highlighting key points with co-governance.


The Strategy points out that by 2035, climate change adaptation will be fully integrated into the overall situation of economic and social development, the modernization of the governance system and capacity for climate adaptation will be promoted, the climate resilience of natural ecosystems and economic and social systems will be strengthened with a regional pattern of climate adaptation built.


Under such circumstances, how mature are Chinese enterprises in adapting to climate change in strategic layout and management practices, and how should they adapt to the landscape of economic and social development under the climate change, build the ability to adapt to climate change, and grasp the cliamte-related opportunities? 


In order to help enterprises clarify these key issues and help enhance the climate resilience of China's economy and society and Chinese enterprises, GoldenBee Consulting released the Shift to Climate Adaptation: Climate Special Report of the ESG Competitiveness Progress Observation Report 2022.


The Report refers to the guidelines of the International Sustainability Standards Board (ISSB) and the Task Force on Climate-related Financial Disclosures (TCFD) on corporate climate disclosure, and attempts to measure the maturity of Chinese enterprises’ adaption to climate change from Governance, Strategy, Risk Management and Metrics & Targets.


Scan the QR code below to download the Report (Chinese)


For more information on ESG and climate change, you can contact GoldenBee Consulting's team at:

Email: esg@goldenbeechina.com

Tel: 010-62132901


Source: GoldenBee Consulting

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