The 2021 Global Risks Report posits that climate change impacts cannot be ignored. Here we bring together a roundup of recent GC Capital Ideas posts focusing on climate change. The 2021 Global Risks Report is published by the World Economic Forum with support from Marsh McLennan. A Hot Opportunity – Four Trillion Reasons To Accelerate the Energy Transition: Today, it is crucial for companies and the (re)insurance market to incorporate climate change into business considerations as investors, ratings agencies and financial regulators apply pressure on firms. If European companies do no more to reduce carbon dioxide emissions than they have currently promised, Earth’s temperature will be on track to rise 2.7 degrees Celsius by 2100. That’s well above the Paris Agreement’s target increase of no more than 1.5 C and higher than the 2-degree C tipping point at which life-threatening climate changes will be triggered.
Protecting our Planet and the Public Purse: Guy Carpenter’s report on public sector risk, Protecting Our Planet and the Public Purse, highlights how the risk landscape for public-sector entities is changing at an unparalleled rate, with extreme weather set to dominate government agendas for decades to come.
Video – The Reinsurance Market and Climate Change: In this video, Jessica Turner, Senior Vice President, Catastrophe Advisory at Guy Carpenter, explains to The Insurer how firms need to incorporate climate change and related risk factors into their decision making.