Climate change is increasingly influencing the frequency and severity of natural catastrophe perils, with physical climate risk creating both acute and chronic threats, while some physical risks are less affected by climate change than others. At the same time, the shift to a less-polluting, lower-carbon economy is spawning multiple transition risks.
Guy Carpenter experts help ease the pathway toward dealing with climate issues, offering insights, analytics and advisory to help our clients turn risk into return.
Our climate team’s expertise was on full display during 2023, providing useful information about climate impact all over the world, including Managing Climate Change Physical Risk in Asia Pacific, Africa and the Middle East, a set of briefings examining how climate change affects physical risks posed to insurers with exposures in East Asia, South East Asia, India, Australasia and Oceania, and the Middle East and Africa. Another prime example of Guy Carpenter’s international reach would be 2023 Western North Pacific Tropical Cyclone Prediction.
Rather than strictly accentuating recovery, Guy Carpenter has been emphasizing how prevention and mitigation are major factors in dealing with the impact of climate change. In this article published as part of the World Economic Forum Annual Meeting, Guy Carpenter’s Julian Enoizi, CEO, Guy Carpenter Europe, spotlights the need for building resilience to these types of physical threats before they take place. In this video interview, Julian also discussed the importance of scaling the (re)insurance sector’s impact on climate adaptation and driving engagement with projects that require further support.
Julian, who also leads Guy Carpenter's Public Sector practice, also played a lead role in developing the community-based parametric program put in place to provide emergency funding to low- and moderate-income households in New York City with payouts in the aftermath of a major flooding event. He addressed it in this video interview, and has also testified before a Congressional subcommittee.
Most recently, Guy Carpenter experts Matthew Eagle, Head of Global Model Solutions and Advisory, and Josh Darr, Global Head of Peril Advisory, appeared in a video (part 1 and part 2) related to the 2023 United Nations Climate Change Conference, more commonly referred to as COP28, in which they discuss climate change, building resilience and responding to regulatory initiatives.
Recent climate-related video interviews with Guy Carpenter experts include Josh Darr on peril modeling and climate, and Kieran Bhatia on increases in catastrophe loss. Recent thought leadership articles published for major conferences include Guy Carpenter Experts Weigh in on Risk, Regulation Regarding Climate Change and Climate Change: Risks and Opportunities.