Adaptive governance, finance and entrepreneurship in the face of climate change: innovation, inclusion and organizational resilience

Traditional governance and finance models, based on historical data and assumptions of stability, struggle to meet contemporary systemic challenges. In environments characterized by uncertainty, complexity, and interdependent risks, organizations adhering to rigid structures find it extremely difficult to adapt to their social and economic environment. Climate change, in particular, creates major disruptions that challenge performance metrics, value creation mechanisms, and decision-making models.

Faced with this turbulence, adaptive governance is emerging as a central approach. It aims to strengthen organizational learning capacities, avoid irreversible decisions, prioritize institutional flexibility, implement continuous monitoring mechanisms, and foster broader stakeholder participation in decision-making processes. Such governance recognizes that risk management is no longer simply about controlling predictable parameters, but about the ability to evolve in an uncertain environment by integrating iteration, experimentation, and collective innovation.

These challenges are particularly evident in finance. Climate disasters degrade asset values, disrupt insurance markets, and increase the volatility of financial flows, while uncertainty surrounding political and regulatory responses translates into higher risk premiums. In this context, financial flexibility becomes a strategic skill that enables organizations to absorb shocks, reallocate resources, and seize emerging opportunities. It requires governance structures capable of adapting quickly without losing the coherence of their vision.

Inclusion is also acquiring a strategic dimension, in both governance and finance. It is no longer limited to declarations of commitment but is becoming a lever for legitimacy and organizational performance. Integrating local communities, civil society organizations, and stakeholders into decision-making processes allows for a fairer and more effective response to the diversity of social needs. Mobilizing diverse perspectives can stimulate creativity, accelerate collaborative innovation, and strengthen collective resilience, even if the strategic dimensions of inclusion warrant further analysis.

These transformations are accompanied by an evolution of entrepreneurial opportunities. Climate change intensifies risks but also opens up new perspectives in terms of innovation, competitive advantage, and value creation. Green technologies, circular economy models, emerging markets, and sustainable entrepreneurship represent all areas where the transition to a low-carbon economy can become a driver of growth.

In this context, the legitimacy of organizations rests less and less on their financial results alone and more and more on their ability to understand, reduce, and leverage their environmental footprint. Stakeholders now evaluate companies based on their commitment to sustainable development and the integration of these principles into their strategic decisions.

Thus, this research theme examines how climate change is transforming governance structures, financial models, and entrepreneurial opportunities. It questions the ability of organizations to combine adaptation, innovation and inclusion to build regenerative and equitable economies, where the creation of long-term value is inseparable from the preservation of natural resources and social well-being.

Track chair:

Assil GUIZANI (aguizani@edcparis.edu) 

Najlae BENDOU (najlae.bendou@edcparis.edu)

Salah Ben Hamad (Salah.benhamad@fsegt.utm.tn)