On a daily basis, human activities impacting climate and environment, often in an irreversible way. With augmenting frequency and intensity of extreme weather, the drastic effects of climate change are already perceptible. SDG 13, therefore, calls on nations to “take urgent action to combat climate change and its impacts.” Climate change will be as much an economic problem as an environmental one. Extreme weather events not only become more frequent but also costlier. According to recent estimates, natural disasters caused about $155 billion in damage across the world in 2018. Moreover, the effects of a changing climate are expected to damage property and critical infrastructure, impact human health and productivity, and negatively affect the agriculture, forestry, fisheries, and tourism sectors. With these economic factors in mind, how is the private sector responding to the challenge of climate change? What are the economic costs of failing to tackle the challenge effectively? What is the role of companies in the fight against climate change? How can they be held responsible? To what extent can private sector stakeholders be allies in the fight against climate change?
