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This report identifies various approaches companies are using to address climate risks, examines challenges companies face in managing and reporting risks, and suggests strategies to overcome these challenges and strengthen climate risk management within the private sector. It provides an in-depth look at the state of climate risk assessment and resilience planning within the business community. While some companies have taken steps to assess risks and prepare their business for future climate changes, many companies face various internal and external challenges that hinder efforts toward greater climate resilience.