This study examines the relationship between climate change and new entrepreneurial activity. We propose, using the emerging Theory of External Enablers (TEE), that climate change can enable entrepreneurial activity when individuals perceive environmental uncertainty as an attractive opportunity to start a business. Our multi-level analysis of 1,116,324 individuals from 100 countries over a 10-year period strongly supports the idea that climate change can stimulate entrepreneurial activity. Our moderation analysis further shows that women and individuals with a larger entrepreneurial network are even more likely to view climate change as a potential entrepreneurial opportunity. However, those with higher entrepreneurial self-efficacy are generally less likely to see climate change in this way. We discuss the implications of this evidence-based understanding of climate change as a catalyst for new entrepreneurial action for the fields of entrepreneurship and management.