Since 2011, climate-related risks have dominated the rankings of the top five threats to global prosperity in the World Economic Forum’s Global Risks Report—with good reason. Extreme weather events, failure of climate change mitigation and adaptation, water supply crises, and biodiversity loss, among other climate-related risks, threaten the long-term viability of many businesses.
Extreme weather events are increasing in cost to business and government, as well as frequency and severity. Globally, there were 330 natural catastrophe events in 2017. Of those, 97% were weather-related, resulting in $344 billion in economic losses.(1)
Unsurprisingly, investors are beginning to ask hard questions about their exposure to climate-related risks. In June 2017, the Financial Stability Board’s Task Force on Climate-related Financial Disclosures released their recommendations to companies for disclosing how climate-related risks may affect corporate performance. By December, 130 investors with more than $13 trillion in assets had called for their implementation.
If your organization is not already thinking about how to increase its climate resilience in response to these challenges, now is the time to start.
Marsh & McLennan Companies—a leader in climate resilience solutions for corporations and government—has developed a comprehensive framework to help organizations think through all aspects of climate resilience.
The 2018 MMC Climate Resilience Handbook provides concise cases that will change the way you think about climate in the context of your organization in three categories of action:
- Strategies for Climate Resilience: How countries, communities, and companies can thrive as technological innovation and the shift to a low-carbon economy converge.
- Financing for Climate Resilience: How to stimulate private capital to invest the trillions needed to finance climate-resilient economies and societies.
- Risk Management for Climate Resilience: How risk management processes and insights can be applied to enhance organizations’ climate resilience.
In this challenging environment, the 2018 MMC Climate Resilience Handbook provides clear insights for action.
1 Reference: SwissRe