Extreme weather events are driving greater focus on climate adaptation efforts. (Photo: iStock)
Climate adaptation is emerging as a new engine propelling the green economy in response to the impacts of climate change. A recent study by the London Stock Exchange Group (LSEG) revealed that solutions related to climate adaptation generated an additional USD 1 trillion in global revenues last year. Among the companies surveyed, over 30% reported taking action on climate adaptation—especially those in the real estate and utilities sectors.
Green products and services reach record revenues
On April 12, the LSEG released its annual Green Economy Report, which showed that green products and services generated more than USD 5 trillion in revenue last year—a record high across the past six reports. The largest contributions came from green buildings and water infrastructure, while climate adaptation accounted for roughly one-fifth of the total.
