ABSTRACT
This chapter examines the range of partnerships in which leading companies are involved. Partnerships in a sense aim to address different forms of 'governance' failure in a situation where governments, companies and non-governmental organisations are unable to unilaterally achieve desired public objectives, especially when it comes to complex global problems such as protection of the environment. Climate change has at last started to affect markets in which companies operate. Partnerships also provide opportunities to share risk in researching consequences and innovations in market and technology development related to climate change. Partnerships have also enabled many companies to enter into proactive or exploratory industry-wide or cross-sector dialogues in terms of understanding implications of climate change trends. Partnerships can also reduce risks related to climate change, which can be regulatory, reputational, commercial or financial in nature. The partnership can be used to strengthen the strategic position in existing markets.
