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Risk in Context Podcast: Advancing the case for investment in climate resilience

Listen to industry experts discuss how advanced analytics, innovative insurance solutions, and more are critical to build resilience to climate-related risks.

The global conversation around climate resilience is shifting, underscoring the importance of adaptation alongside mitigation, a sentiment that was evident during this year’s Climate Week NYC.

With growing demand for more comprehensive risk management strategies, the insurance industry is leading the charge to address escalating climate risks through enhanced technical capabilities while promoting risk reduction across the value chain and innovating insurance solutions. At the same time, advances in climate risk analytics are providing more accurate insights to help guide resilience investments, enabling supportive cost-benefit analyses for the prioritization of resilience investments. In this environment, multi-stakeholder collaboration is essential to drive the adoption of resilience measures.

In this episode of Risk in Context, Amy Barnes, Global Head of Energy and Power and Head of Climate and Sustainability Strategy at Marsh, speaks with Francis Bouchard, Managing Director of Climate at Marsh McLennan, Julie Milbrandt, Wildfire Risk Solutions Leader at Marsh, and Kieran Bhatia, Climate and Sustainability Lead, North America, at Guy Carpenter. They discuss some of the key takeaways from Climate Week NYC and talk about strategies and solutions already transforming how climate resilience is integrated into business strategy. 

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Key takeaways

Climate resilience requires multi-stakeholder alignment

Effective climate resilience requires coordinated efforts across governments, businesses, and communities, with shared accountability and collaboration helping to maximize the collective benefits of investments.

Cost-benefit analysis unlocks resilience investment

Quantifying the economic benefits of resilience through the development of credible models that demonstrate the financial returns of resilience investment to attract capital and support decision-making remains critical.

Practical solutions and insurance enable adaptation

Innovative technologies, improved analytics, and growing capital availability signal a readiness to implement resilience solutions at scale, with the insurance industry at the forefront of facilitating risk reduction and supporting rapid recovery from disruptions.

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