Making Informed Decisions About Climate Risks

Synopsis 

The growing list of extreme weather events and the shocking scale of loss and damage around the world this summer has put governments and businesses on notice. From an unprecedented heatwave that enveloped Western Canada and the North-western US and baked shellfish in their shells, to floods that ravaged many European nations including Germany, Belgium, the Netherlands and the UK, overtopped dams in China, inundated several states in India and caused widespread flood damage, including landslides, in parts of Turkey, Pakistan, Iran, Yemen, Japan, Nepal, Tajikistan, Kyrgyzstan, Uzbekistan and Bangladesh.

What could governments and the private sector have done differently had we known about specific areas of vulnerability to the physical, transitional and liability risks posed by climate change? More importantly, how will we need to allocate finite and scarce resources now, to limit future exposure to risk and to reduce vulnerability of assets and infrastructure to loss and…