By Kobad Bhavnagri, Global Head of Strategy, BloombergNEF
Executive summary
Climate-related damages are rising fast. In 2024 alone, storms, fires and other natural disasters cost the world’s major economies $1.4 trillion. Adapting to minimize these impacts will require trillions in investment — in everything from sea walls to seed science. Today, the world spends only a fraction of that, but the business case for climate adaptation is beginning to emerge. This article explores how the adaptation imperative is reshaping strategy and creating new risks and opportunities, and outlines the key themes BNEF will analyze in its new research on Adaptation and Resilience.
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