Chapter 1 introduces the central puzzle of the book: how multinational corporations confront the growing risks and opportunities of climate change. It establishes the urgency and global salience of the issue, situating the discussion within international business and political economy scholarship. The chapter reviews existing literature, identifies key knowledge gaps, and formulates the research questions that guide the study. It then presents the book’s overarching analytical framework, integrating resource dependence theory with a typology of climate risks and corporate response strategies. By linking firm-level decision-making to national capacity and international engagement, this introduction explains how the subsequent chapters contribute to theory and practice. It concludes by highlighting the book’s dual purpose: to advance academic understanding of business strategy under climate stress and to draw actionable lessons for policymakers and business leaders.