Title page 1

Contents 1

Why is making the business case for adaptation to extreme weather events important? 2

Emerging trends in business-led adaptation 4

Barriers to private sector adaptation 6

The role of private adaptation to strengthen societal resilience 7

References 10

Table 1. Examples of direct and indirect business losses from extreme weather events by sector 3

Figure 1. Business exposure to heatwaves is increasing over time 3

Figure 2. SMEs in the EU are less likely than large firms to undertake adaptation measures 5