White Paper The risk and realities of climate change for corporations

The impact of climate change is becoming increasingly evident, as extreme weather events, rising temperatures and shifting rainfall patterns take effect around the world. What was once considered an end-of-century risk is now creating very near and present challenges

In 2023 alone, the U.S. experienced more than 25 separate billion-dollar-plus weather and climate disasters – the most recorded in a calendar year.¹ Then during the pre-monsoon season of 2024, large regions of Asia experienced temperatures well above 40°C (104°F) for many days,² with one part of Delhi reaching 49.9°C (121.8°F) – the Indian capital’s highest temperature on record.³

Severe storms have since caused flooding in Toronto⁴ and Dubai.⁵ And in Hong Kong, torrential rain in May 2024 led to the highest rainfall recorded in an hour since records began. Although it is difficult to directly link individual rainstorms to climate change, scientists agree that global warming makes these extreme events more likely.⁶

Wherever you’re located, your business needs to take measures to protect its physical assets and operations from the financial and human resource impacts of climate risk. Plus, by proactively tackling climate change and embracing sustainability, you have the potential to ensure that your firms’ money is protected and can work harder to maximize growth, as well as contribute to a greener future.