WEBVTT 1 00:00:00.240 --> 00:00:03.320 Adaptation and resilience is a big theme at COP27. 2 00:00:03.720 --> 00:00:06.400 However, private sector has been typically 3 00:00:06.400 --> 00:00:08.800 overlooked in the adaptation debate. 4 00:00:09.400 --> 00:00:13.840 While these days we realize that due to increasing consequences of climate 5 00:00:13.840 --> 00:00:18.520 change and companies assets and business models, companies really need to act. 6 00:00:18.880 --> 00:00:23.360 So number one, they need to analyze the physical risks that are impacting them. 7 00:00:23.880 --> 00:00:26.320 Number two, they really need to understand 8 00:00:26.320 --> 00:00:30.160 what is the economic impact on their assets, on their business model. 9 00:00:30.320 --> 00:00:32.040 And number three, they need to come up with 10 00:00:32.040 --> 00:00:35.520 proper adaptation and/or resilience strategies.