Natural catastrophes and weather events are devastating and displacing, impacting countless lives. The insurance and risk industry is leading the way in rebuilding communities – collaborating with academia, charities and governments every day to tackle climate change, one of the most perilous emerging risks of our time.
Changes in weather and climate events – such as temperature extremes, sea-level rises and flooding – are occurring more frequently and creating increased volatility for businesses around the globe. These changes are amplifying existing risks and increasing the financial impact on physical assets through increased damages to infrastructure, agriculture, energy, transportation and other sectors of the economy.
These changes call for businesses to accelerate their climate resilience and mitigation strategies to enable them to navigate new forms of volatility, rethink their access to capital, and reduce the protection gap as risks begin to amplify.