The Queensland Government has launched the 'Small and Medium Enterprise Sector Adaptation Plan'. The Plan identifies potential climate change risks specific to small and medium-sized enterprises, and strategies for government, business, and other stakeholders to manage those risks.

SMEs make a significant economic contribution to the Queensland economy, with the sector being the state's largest employer, and making up 97.7% of the state's businesses. As such, the Plan provides a useful resource for businesses in this sector to consider and manage their climate risks and opportunities.

The report will also be of interest to the insurance industry, as it notes that some SMEs have encountered challenges in either affording or obtaining insurance for climate-related risks, and identifies addressing insurability as an action item for government and relevant industry stakeholders.