Businesses need to start building resilience to climate change impacts says Zurich
- Published: Tuesday, 02 October 2018 09:14
A new report by Zurich Insurance Group, ‘Managing the impacts of climate change: risk management responses,’ provides risk management tools, and outlines approaches and best practices to help businesses respond to the growing threat of climate change.
The report examines two scenarios: one based on the failure to act on climate change, resulting in a steady rise in temperature and rising physical risk; the other assumes that effective measures are taken to reduce carbon emissions, with increasing transition risks to be managed in the shorter term.
It also details three steps companies can follow to develop a climate resilience adaptation strategy:
- Identify the broad business and strategic risks;
- Develop a granular view of the risks including individual locations;
- Develop a mitigation strategy involving insurance and resilience, as well as strategic implications for business models.
Read the report (PDF).