The Long Hedge: Preserving Organisational Value through Climate Change Adaptation, 1st Edition (Hardback) book cover

The Long Hedge

Preserving Organisational Value through Climate Change Adaptation, 1st Edition

By Jason West


344 pages

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Hardback: 9781907643958
pub: 2014-01-31
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eBook (VitalSource) : 9781351276368
pub: 2017-09-08
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Part of the Greenleaf Publishing Responsible Investment Series.Mitigating and adapting to risks and changing circumstances is a natural part of doing business. But methods of mitigating and adapting can be quite different in terms of time, cost and observed impacts. The impacts of mitigation activities are more immediate while the benefits of adaptation activities may take many years to take effect. Nowhere is this difference more apparent than in the case of the corporate response to climate change.In the context of climate change, adaptation is the process of changing behaviour in response to actual or expected climate change impacts. Climate change adaptation is now emerging as a critical partner to mitigation, and indeed may even become the primary protection mechanism for future generations.In this unique book, Jason West provides a comprehensive assessment of the management of climate change adaptation in the corporate sector. The book provides a formal overview of the range of approaches available along with a series of practical case studies and examples that can be used by companies and other organizations to identify, assess and manage climate change adaptation.A major focus is on the financial and investment implications of climate change adaptation. West examines how firms can evaluate the investment decisions associated with long-term climate change adaptation measures, including how such investments can be valued and funded, the appropriate accounting treatment of such measures and appropriate risk management and governance practices in relation to such measures. The book also considers the needs and interests of investors and other stakeholders, and considers how they can assess the adequacy and appropriateness of corporate action on climate change.The Long Hedge will be essential reading and a key text for risk-practitioners, investors, financiers, scholars and policy makers in the field of climate change.

Table of Contents

Introduction 1. Understanding climate change 2. Business response to climate change 3. Defining mitigation and adaptation 4. Adaptation activities 5. The costs of adaptation – assessment options 6. Adaptation: investor disclosure 7. Managing adaptation strategies 8. Evaluating corporate sustainability 9. Sustainability assessment using DEA 10. Research gaps and future directions 11. How to deploy these techniques: A user’s guideAppendix 1: Generic climate cost estimation Appendix 2: Economic assessment of adaptation Appendix 3: Corporate governance principles Appendix 4: Sample risk register Appendix 5: Risk instruments Appendix 6: Case study for CO2 mitigation Appendix 7: Constructing the firm marginal abatement curve References Glossary

About the Series

The Responsible Investment Series

The Routledge Responsible Investment series has established itself as the most authoritative forum for outstanding empirical and theoretical work on all aspects of responsible investment. We are now accepting proposals for 2019 and 2020.

We welcome proposals books and edited collections on the following topics:

  • The financial, environmental, social and governance outcomes from responsible investment.
  • Responsible investment in different asset classes.
  • Responsible investment in different geographies.
  • The implementation of responsible investment by different actors (e.g. pension funds, asset managers, sovereign wealth funds, private equity funds, insurance companies), and in different geographic regions.
  • The role that has been played by collaborative initiatives such as the UN Principles for Responsible Investment, UNEPFI and the investor networks on climate change.
  • Public policy and responsible investment.

Reflecting the changing landscape of responsible investment, we are particularly interested in the question of impact. We welcome proposals that critically engage with and analyse the contribution that investment makes to the Sustainable Development Goals (SDGs), to delivering the goals of the Paris Agreement on Climate Change and to enhancing the stability and resilience of economic and financial systems.

To submit a proposal to the Responsible Investment Series, please email

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Business Ethics
BUSINESS & ECONOMICS / Investments & Securities
SCIENCE / Global Warming & Climate Change