Introduction

Climate risk and response has rapidly moved up the agendas for leaders everywhere as extreme weather events and new research findings highlight the risks to lives and livelihoods. Our research and analysis found that in 2021, economic losses from natural disasters were estimated at $343 billion, 27 percent above the 21st century average. The protection gap for those losses is 62 percent. Yet, even as these events rise in frequency and severity and the costs mount, many companies are still seeking to understand their risk exposures and how to embed environmental and ESG risk into their decision making.

We know the stakes are high, the immense magnitude of the challenge requires every organization to play a part, and better decisions today are essential for our shared future. Our ESG strategy is focused on three major areas of environmental impact — our own decarbonization efforts and investments in sustainability, our work to accelerate clients’ climate resiliency and response and convening leaders and organizations to collaborate and scale our ambitions.