Endnotes 1. Benayad, A. et al. (2024). Why Investing in Climate Action Makes Good Economic Sense. Boston Consulting Group. https://www.bcg.com/publications/2024/investing-in-climate-action. Note: Benayad et al’s analysis is based on a review of recent literature and expert engagement. The authors relied on the macroeconomic modelling of Network for Greening the Financial System (NGFS), Phase IV, as of November 2023. Some recent estimates suggest climate change will have even higher impacts on global GDP , such as the fifth vintage of NGFS released in November 2024, which builds on the damage function proposed by: Kotz, M. et al. (2024). The economic commitment of climate change. Nature, no. 628, 2024, pp. 551-557. https://www.nature.com/articles/s41586-024- 07219-0. Kotz et al’s research, published in April 2024, estimates an impact on global GDP – expressed as income (per capita) reduction – of 11-29% (with a midpoint of 19%) by 2050, based on current emissions levels (RCP2.6). 2. United Nations Environment Programme. (2024). Emissions Gap Report 2024. https://www.unep.org/resources/ emissions-gap-report-2024. 3. United Nations Environment Programme. (2024). Emissions Gap Report 2024. https://www.unep.org/resources/ emissions-gap-report-2024. 4. United Nations. (2025, 10 January). Confirmed: 2024 was the hottest year on record, says UN weather agency. https:// news.un.org/en/story/2025/01/1158891. 5. European Union, Copernicus Climate Change Service. (2025, 10 January). Copernicus: 2024 is the first year to exceed 1.5C above pre-industrial level. https://climate.copernicus.eu/copernicus-2024-first-year-exceed-15degc-above-pre- industrial-level. 6. World Economic Forum. (2025). Business on the Edge: Building Industry Resilience to Climate Hazards. https://www. weforum.org/publications/business-on-the-edge-building-industry-resilience-to-climate-hazards/ 7. World Economic Forum. (2024). Global Risk Report 2024. https://www.weforum.org/publications/global-risks- report-2024/digest/. 8. United Nations Office for Disaster Risk Reduction (UNDRR). (2022). Our World at Risk: Transforming Governance for a Resilient Future. https://www.undrr.org/gar/gar2022-our-world-risk-gar . 9. Newman, R. & Noy, I. (2023). The global costs of extreme weather that are attributable to climate change. Nature. https://www.nature.com/articles/s41467-023-41888-1. 10. Centre for Research on the Epidemiology of Diseases (CRED), UC Louvain, United States Agency for International Development (USAID). (2024). 2023 Disasters in Numbers: A Significant Year of Disaster Impact. https://files.emdat.be/ reports/2023_EMDAT_report.pdf. 11. World Economic Forum. (2024). The Cost of Inaction: A CEO Guide to Navigating Climate Risk. https://www.weforum. org/publications/the-cost-of-inaction-a-ceo-guide-to-navigating-climate-risk/ 12. World Economic Forum. (2024). The Cost of Inaction: A CEO Guide to Navigating Climate Risk. https://www.weforum. org/publications/the-cost-of-inaction-a-ceo-guide-to-navigating-climate-risk/ 13. Benayad, A. et al. (2024). Why Investing in Climate Action Makes Good Economic Sense. Boston Consulting Group. https://www.bcg.com/publications/2024/investing-in-climate-action. See note under Endnote #1 for more information on this data. 14. Benayad, A. et al. (2024). Why Investing in Climate Action Makes Good Economic Sense. Boston Consulting Group. https://www.bcg.com/publications/2024/investing-in-climate-action. See note under Endnote #1 for more information on this data. 15. Benayad, A. et al. (2024). Why Investing in Climate Action Makes Good Economic Sense. Boston Consulting Group. https://www.bcg.com/publications/2024/investing-in-climate-action. See note under Endnote #1 for more information on this data. 16. BCG, Global Resilience Partnership & USAID. (2023). From Risk to Reward: The Business Imperatives to Finance Climate Adaptation and Resilience. https://www.globalresiliencepartnership.org/wp-content/uploads/2023/12/from-risk-to- reward-report.pdf. 17. Sources: –BCG, Global Resilience Partnership & USAID. (2023). From Risk to Reward: The Business Imperative to Finance Climate Adaptation and Resilience. https://www.globalresiliencepartnership.org/wp-content/uploads/2023/12/from- risk-to-reward-report.pdf. –Grüter, Trachsel, Laube & Jaisli. (2022). Expected global suitability of coffee, cashew and avocado due to climate change. https://pmc.ncbi.nlm.nih.gov/articles/PMC8791496/. –British Broadcasting Corporation. (2011). Hard disk and camera makers hit by Thai floods. https://www.bbc.com/ news/technology-15534614. –Government of the Philippines. (2013). Post-Disaster Needs Assessment of TY Yolanda Affected Areas. Climate Adaptation: Unlocking Value Chains with the Power of Technology 39

Climate Adaptation Unlocking Value Chains with the Power of Technology 2025