New report on private sector adaptation reporting in the Global Stocktake

Assessing merits and shortcomings in current reporting, it offers recommendations for private sector reporting to serve as an input to the Global Stocktake

As an essential feature of the Paris Agreement’s built-in process, the Global Stocktake (GST) was set up to take stock of the overall progress made in achieving the Paris Agreement’s long-term goals, including the Global Goal on Adaptation.

Climate change is already affecting the operations of private sector, including their ability to generate profits. As a key member of the broad-based coalition of actors required to mitigate and adapt to climate change, it is important that the contributions and needs of the private sector are not overlooked by the global stocktake.

This report is jointly developed by UNEP-DTU Partnership and the Indian Institute of Management, Ahmedabad, under the Adaptation Working Group of the independent Global Stocktake (iGST). It explores the landscape of existing adaptation reporting processes, assesses their merits and the shortcomings that hinder aggregated assessments of private sector adaptation, and offers recommendations for enhancing the potential for private sector reporting processes to serve as an input to the GST. This new research provides valuable insights to support the GST, or similar stocktaking exercises relevant to adaptation, to be able to better consider the adaptation being implemented by private sector actors.