Many multinationals that rely on suppliers in developing countries for their raw materials are acutely aware of the risks posed by climate change.
The challenge is converting that understanding into concrete strategies that can help communities prepare for and survive the impact of climate change. This may range from water scarcity in some areas to devastating floods in others.
A lot is riding on the involvement of the private sector, because, as development experts point out, there is a yawning gap between the funds pledged to address climate change adaptation and the estimates of $50bn-$100bn a year that developing countries would actually need.
So what are businesses doing? A number of them are working with development agencies, multilateral institutions and each other on key resource issues such as water.