While climate change policies and negotiations are developing and scientist are urging for more action, in most countries progress remains on a low level and the macro figures indicate that climate change becomes even more critical. As a reaction to this, some advanced business leaders have initiated various actions and projects with their companies, and various regulations have been introduced by governments with varying levels of effectiveness. In this context of a mix of international initiatives, media attention, customer irritation, diverse regulatory changes and partial political lethargy, ever more companies are challenged to identify and reduce their exposure to climate change issues. Whereas the reduction of climate change emissions is an important topic, it has also become obvious that climate change is not just a future risk but is already happening. This invokes adaptation activities in addition to mitigation strategies and measures. A basic requirement to design the corporate climate strategy is the knowledge about the company’s exposure as well as about options, effects and costs of emission reductions and adaptation measures. This is where climate change accounting as a specific kind of environmental management accounting comes into play. This introductory section outlines core questions and approaches.