UK Climate Change Risk Assessment
As part of the Third UK Climate Change Risk Assessment (CCRA) the Grantham Research Institute on Climate Change and the Environment at the London School of Economics in collaboration with the UK Committee on Climate Change investigated climate risks to businesses and industry in the UK. This work aims to inform the UK Government’s climate change adaptation planning under the Climate Change Act. The research explores the direct and indirect impacts of climate change on businesses operating in the UK. To support the CCRA3 chapter on business and industry we conducted a business survey asking companies about their current and future climate risk/opportunities, financial impact and adaptation strategies, climate risk preparedness, reporting, and engagement with internal and external stakeholders.
Activities to reduce emissions (climate change mitigation) are not considered.
The Independent Assessment of UK Climate Risk (CCRA3) report was published in June 2021 and full details can be found on the UK Climate Risk website.
This works builds on CCRA1 (2012) and CCRA2 (2017). See here for ‘60 seconds – CCRA at a glance’.
For more information about the UK Climate Change Risk Assessment please visit the UK Committee on Climate Change website.
Climate risks for business and industry have been covered in dedicated chapters, with cross-cutting aspects such as infrastructure, international risks and natural capital spread across the full report:
The primary purpose of the CCRA3 evidence report is to provide an assessment of the risks for the UK from climate change impacts, identifying the priority risks, to enable the UK Government and Devolved Administrations to set out objectives, proposals and policies for adapting to climate change. In addition, unless it conflicts with the primary purpose, the CCRA3 evidence report should also seek to inform others making investment and policy decisions where climate is a significant factor; show progression since CCRA1 and CCRA2 on refining assessment of priority risks and; act as a stepping stone to CCRA4 in terms of the approach and framing.
Technical CCRA3 chapter on business and industry: Surminski S (2021) Business and industry. In: The Third UK Climate Change Risk Assessment Technical Report [Betts R A, Haward A B and Pearson K V (eds.)]. Prepared for the Climate Change Committee, London, 2021.
The LSE Climate Risk Business Survey 2020 – synopsis
To support the CCRA3 chapter on business and industry we conducted a business survey asking companies about their current and future climate risk/opportunities, financial impact and adaptation strategies, climate risk preparedness, reporting, and engagement with internal and external stakeholders.
Assessing climate risks across different business sectors and industries: an investigation of methodological challenges at national scale for the UK
Research article 30 April, 2018
This research explores the methodological challenges for a national-scale assessment of climate risks through the lens of the UK Climate Change Risk Assessment (UKCCRA) process and compares the approaches adopted in the first and second UKCCRA (2011, 2016), while also reflecting on international experiences elsewhere.
Advances in risk assessment for climate change adaptation policy
Research article 30 April, 2018
This paper reviews the current practice and frontiers of climate change risk assessment, with specific emphasis on the development of adaptation policy that aims to manage those risks.