Global concerns about the impact of climate change took center stage during the United Nations’ Climate Change Conference, COP28, which took place recently in Dubai. Government leaders and senior officials from organizations around the world gathered to discuss the effects of climate change and the actions required to address them.
While effectively managing climate change requires a continuing mitigation effort, there is increased recognition that this is not sufficient, especially considering the changes that have already taken place, Instead, there is an increased emphasis on adaptation to increase resiliency with organizations needing to focus beyond their own assets, but also understand the vulnerabilities of third parties.
In this episode of Risk in Context, Amy Barnes, Marsh's Head of Climate and Sustainability Strategy, talks with Nick Faull, the Head of Climate and Sustainability Risk and Innovation at Marsh, Scott Williams, the ESG coordinating director for Marsh India, the Middle East, and Africa, and Swenja Surminski, Managing Director, Climate and Sustainability at Marsh McLennan. They discuss learnings from the conference and what these mean for businesses and their risk managers, share some of the actions that organizations are already taking or should be considering, and talk about expectations for 2024.
Head of Climate & Sustainability Strategy
Global
Amy Barnes heads Marsh’s climate and sustainability strategy. Prior to this she held a number of leadership roles with Marsh’s global energy, power, and renewables business. She has a respected depth and breadth of experience assisting some of the largest and most complex companies manage risks.
Head of Climate & Sustainability Risk, Marsh
United Kingdom
Nick Faull is the Head of Climate and Sustainability Risk at Marsh where he helps to develop Marsh’s global sustainability and climate services — including risk modelling and management — to support clients as they transition towards net zero carbon emissions. He was previously Head of Strategic Risk Consulting at Marsh in the UK, as part of which he led the roll-out of Marsh’s climate proposition to clients. Prior to this he spent nine years with Oliver Wyman consulting to financial services firms on a range of risk-related issues. He combines extensive consulting experience with a strong background in climate having completed a DPhil in climate change modelling at Oxford University.
Climate & Sustainability Advisory Leader, India, Middle East and Africa
South Africa
A chartered accountant by background, Scott Williams is responsible for the coordination and delivery of ESG advisory engagements. His areas of expertise are ESG advisory and reporting engagements. He also has extensive experience of sustainability assurance engagements. He has a postgraduate certificate in development management, providing him with strong credentials and knowledge of sustainable development-related matters. Prior to joining Marsh, he was an associate director in PwC’s sustainability and climate change department and prior to that had 10 years of financial assurance experience.
Managing Director of Climate and Sustainability, Marsh McLennan
United Kingdom
Swenja Surminski is managing director of climate and sustainability at Marsh McLennan, and chairs the Munich Climate Insurance Initiative. She is a Professor at the Grantham Research Institute at the London School of Economics and has been appointed by the UK government to the UK Climate Change Committee, an independent statutory body that advises the UK government on emissions targets and on adapting to the impacts of climate change. She was contributing author to the Intergovernmental Panel on Climate Change and has written several books and articles on climate risk management.
