The COP21 agreement marks a turning point in international efforts to mitigate climate change. Expectations on governments to deliver are high. But what about businesses? Is there a business case for climate adaptation? Are European companies ready to create a competitive edge towards the rest of the world? A new EU policy report on corporate strategies on climate change mitigation and adaptation gives some compelling answers. The CDP briefing was co-written by Ecofys and is based on the latest environmental data disclosed by 1,800 European companies representing 63% of EU market capitalization. The report analyses opportunities, identifies remaining challenges and provides recommendations for companies, investors and policy makers.