Climate

ESG and value creation: Why risk managers need to play a front line role

Risk managers have a critical role in boosting ESG performance. WTW’s John Merkovsky and Lisa Lipuma look at the practical tools, tactics and best practices they can deploy to deliver enhanced ESG risk management.

Cities across the world are ill-prepared to evade, withstand, and recover from shocks and long-term stresses

By David Benyon and Sara Benwell

The least resilient cities, according to the study, carried out in partnership with Economist Impact, were New Delhi, Jakarta, Cairo, Dhaka, and, lastly, Lagos.

How risk-sharing systems can help climate vulnerable countries

By Isobel Rafferty and Sara Benwell

New research shows world’s most climate vulnerable countries could lose over 100% of GDP in 2024 from disasters that are insurable

Risk briefing: Five steps APAC organisations must take to tackle extreme weather risks

New research shows risk managers are more concerned about extreme weather than any other threat to operations. Despite this a quarter of firms have no plans to mitigate climate risks. Here are five ways to protect your organisation

Climate risk survey 2023 results: how to boost board engagement

Our 2023 climate change survey shows businesses taking compliance seriously but falling short on funding, let alone real action. Can risk managers light a fire under such tepid board engagement?

Four key lessons from the Axa Future of Risk report

A new survey asks 3,500 risk experts about the greatest emerging threats facing countries and companies today. We dig into the four key takeaways from the report

Case study: How Prysmian is integrating TCFD reporting into its ERM framework

A producer of electrical cables for the energy and telecoms sector, Prysmian is embedded in the green transition. Internally too, climate risk is a central concern, says CRO Alessandro De Felice, as it continually develops new ways to integrate TCFD reporting into its ERM framework.

Special report: Climate change

Climate change is already here - so what now? Learn how organisations can start meeting the challenges head on and turn risks into opportunities

A best practice guide to developing climate resilience

EXPERT VIEW: Climate change may already be here, but we can – and must – work ahead of time to map out our exposures for the impacts still to come. International SOS’s James Wood explores how to build climate resilience, through data analysis, assigning accountability and securing investment.

How to manage the growing risk of climate change litigation

As climate litigation risk gathers momentum, John Firth shares the steps that companies can take to identify and reduce these risks.

APAC risk managers must gear up for increased climate reporting

By Trevor Treharne

Climate risk is fuelling APAC region’s ‘eco-consciousness’, here’s what risk managers need to have on their radar

Case study: Enhancing urban resilience in Medellín through insurance protection for climate risks

Following the conclusion of the two-year Medellín Tripartite Project in Colombia, the risk industry team involved reflects on the project’s outcome, the challenges they overcame, and how the knowledge they gained on the way can help future resilience programmes

How risk managers can become climate leaders through better communication

With the right communication and data, risk managers can speak the language of the c-suite and become a driver of real climate change says Chris Hickin, vice president - operations engineering manager, London operations at FM Global

Maui wildfire insured losses “will be at least $1bn”

Commercial property insurers will likely reassess their exposures, pricing and reinsurance as a consequence of the wildfires in Hawaii, says Moody’s

APAC business boards lack oversight to tackle climate threats - how risk managers can help

“Pressure from governments, investors and civil society will soon impact everything from a company’s credit rating to its ability to borrow and get insurance. Here’s what risk managers need to know

Expert view: Why data is the lynchpin of climate resilience and reporting

By Nina Arquint, CEO EMEA at Swiss Re Corporate Solutions

Nina Arquint, CEO EMEA at Swiss Re Corporate Solutions, explores why data could be both an obstacle and a gamechanger for risk managers dealing with climate-related risk

Putting science and data behind climate risk management

By Sara Benwell

Bill Bradshaw, operations manager at FM Global talks to StrategicRISK about how the insurer is trying to move the needle on climate risk.

Five steps to building a world-class ESG risk and compliance program

Chief risk officers have been managing ESG exposures for some time now, but compliance is getting more complicated. Dean Alms, chief product officer at Aravo explains why risk professionals must step up

Spotlight on: wildfire risks and how to ensure business continuity

As wildfires spread across Europe and the Americas, Strategic Risk explores the steps risk managers can take to safeguard their employees and ensure business continuity

Storms are getting stronger - and risk managers must prepare

Reinsurance broker Lockton Re has published a report on climate change and hurricane trends.

Why APAC risk managers must use scenario planning to better target climate risk

By Sara Benwell

Singapore-listed companies have made good progress in climate disclosures, according to new research. But more needs to be done to balance risks and opportunities.

Case study: How Taprobane Seafood Group are using parametrics to protect against nat cats

A new and innovative parametric structure is allowing shrimp farms in Sri Lanka to protect themselves against multiple weather risks not covered by traditional insurance

How climate change is making it more difficult for risk managers to find adequate insurance

By Sara Benwell

As insurers grapple with increasingly frequent and severe natural catastrophes, the insurability of cat risks is being called into question, with worrying implications for risk managers.

Brokers missing the mark on ESG factors

By Sara Benwell

UK brokers are failing to consider ESG factors when evaluating insurers, according to new research from GlobalData.

Global warming likely to overshoot 1.5C by 2030s, warns IPCC

Changes in the food sector, electricity, transport, industry, buildings and land-use can reduce greenhouse gas emissions

Major floods continue across NSW, Victoria

Widespread disruption continues due to flood-impacted roads, rail, homes, properties, businesses and agricultural land

COP27: ‘Tangible progress’ needed to close climate finance gap

The recent floods in Pakistan caused $30 billion in economic losses - more than 10% of the country’s GDP

Special report: Climate change 2022

Why risk professionals are the ideal people to make sense of the complexities surrounding climate change

Asian nations lead emerging world in climate commitment

Malaysia and China are ’exemplars’ and governments of Bangladesh, Malaysia and the Philippines are ’strongly committed’

Are you ready for the SEC climate rules?

Publicly-listed firms will be compelled to report on third party climate risks as well as their own

Moving towards net zero

Opportunities and risks around greener business

Marsh expands climate transition offering

Collaboration with deep tech data analytics platform will help corporations understand, manage, and report on their net zero journey

Geopolitics, climate crisis and state meddling

Why 2022 will be a high-wire act for Asian businesses

WEF Report: From ‘fight or flight’ to ‘boiling frog’

By Helen Yates

Why it’s time to shift out of crisis management mode as geopolitical tensions obstruct resilience efforts

WEF Report: Climate inaction dominates global concerns

By Helen Yates

Top risks are climate crisis, growing social divides, heightened cyber risks and an uneven global recovery, as pandemic lingers on

How climate is changing the world’s boardrooms

75% of board members say climate change is very or entirely important to the strategic success of their companies - report

COP26: Risk management “central” to climate mitigation

Insurance industry has a “unique contribution” in advancing understanding and sharing of climate-related risks - report

COP26: International Sustainability Standards Board launches

Move represents a “major step forward in establishing consistent, comparable global reporting standards” - TCFD

COP26 “must be a turning point” - UN

As the World Leaders Summit gets underway in Glasgow, WMO warns the past seven years were the hottest on record

IRM publishes climate change guidance

It is the first time the IRM has published a guidance report focused solely on climate change for risk managers

Global floods events lead 2021 nat cat tally - CRESTA

Extreme floods in Henan province in July caused claims of $1.9 billion, the largest cat event loss ever for Chinese insurers

A nature-based approach to risk mitigation

Why firms most impacted by the climate crisis are looking more strategically at nature-based solutions

Chinese insurers endure costliest-ever nat cat

The total economic cost of flooding in China in July has been estimated at nearly $25 billion - Impact Forecasting

Aon: Nat cat losses reach $93 billion in 1H

Fatalities due to temperature extremes were the deadliest type of disaster during the first six months of 2021

Climate: Tide turns on energy firms

By Helen Yates

After Shell and ExxonMobil, why climate change in major emerging markets could be next legal battleground for energy firms

WTW launches climate transition risk framework

New tool will assess companies’ transition plans to a low-carbon economy and ensure firms can continue to access insurance

Environmental risks a growing credit driver for Chinese insurers

Insurers’ have a rising exposure to climate-related disasters and decarbonisation policies warns Moody’s

Financial sector grossly underreporting climate exposure

Just a quarter are reporting portfolio emissions, which are on average 700 times higher than direct emissions

NSW floods declared a catastrophe

Large parts of New South Wales, including Mid-North Coast and Hawkesbury-Nepean, are inaccessible after widespread floods

Nat cat loss tally rises in October

Total combined economic losses from heavy seasonal rainfall across India are estimated at $4 billion

Study predicts near-normal tropical cyclone activity

Above-average numbers are however anticipated for the Philippines in the first part of 2020, as ENSO neutral conditions continue

COVID-19: The role of climate change

By Helen Yates

Climate change and growing extremes will likely increase the threat of global pandemics, according to AIR Worldwide

2018: Worst natural disaster

In 2018, a number of large storms have battered the globe leaving a trail of physical and economic destruction behind them. StrategicRISK is looking back on the year by examining the costliest natural disaster.

Climate risk could make world 'uninsurable'

Increasing risks to all businesses as nations are failing to act on their current Paris Agreement commitments, with the planet is heading towards a 4°C or higher trajectory.

Nat-cats driving risk strategy changes in APAC

The globe is being battered by an increasing number of natural catastrophes which are forcing risk managers to rethink strategy. Andre Martin, head of innovative risk solutions, Swiss Re Corporate Solutions tells StrategicRISK why you shouldn’t let natural perils disrupt your business.