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Risk in Context Podcast: Climate disclosure can help drive business value

The calls for companies to provide climate-related financial disclosure are growing, with regulators, investors, insurers, and others increasingly looking for robust climate self-reporting.

05/06/2023 · 3 minute read

The calls for companies to provide climate-related financial disclosure are growing, with regulators, investors, insurers, and others increasingly looking for robust climate self-reporting. But companies that view disclosure as a mere box to check could be missing an opportunity to examine and reimagine their climate risk management and expand their business opportunities.

In this episode of Risk in Context, Dr. Bev Adams, head of Marsh's Climate Advisory Practice, and a specialist in environmental, social, and governance (ESG) issues, speaks to Randal Waters, a leader with the Emerging Risks Group within Marsh’s Advisory Practice. They discuss the evolving nature of climate risk and how the information generated for disclosure can help businesses understand their exposures and take the most effective action to mitigate their risks.

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Key takeaways

Risk professionals play a critical role in an organisation’s climate journey.

Climate risk is affecting people, planet, and prosperity. Organisations need to adopt a holistic and enterprise-wide strategy to address this fast-evolving risk.

Climate reporting presents opportunities beyond disclosure requirements.

The data and information generated for disclosure can be leveraged enterprise-wide by a business to better understand climate risk and develop new processes and strategies.

Organisations should control and shape the narrative of their climate journey.

External stakeholders are always developing their views on where an organisation is on its climate journey. It is critical to take action, be transparent, and tell your own story.

About our speakers

Dr. Beverley Adams

Dr. Beverley Adams

Head of Client Engagement and Consulting Director, Strategic Risk Practice, Marsh Advisory

  • United Kingdom

Dr. Bev Adams leads the ESG and climate consulting services within Marsh’s Advisory practice. She is an internationally recognised specialist in property flood resilience (PFR) and adaptation, establishing Flood Re’s nationwide event response programme and driving change via the UK Government’s PFR Roundtable business adoption pathway. She worked for the World Bank before joining Marsh McLennan in 2012 and has a PhD in coastal risk management from University College London.

Randal Waters

Randal Waters

Senior Vice President, Emerging Risks Group, Marsh Advisory, North America

  • United States

Randal Waters is a senior vice president within the Emerging Risks Group, part of Marsh’s Advisory practice. He joined Marsh in 2021 and helps clients understand their strategic risks, with a focus on climate, cyber, and supply chain risk quantification. He also helps with the development of roadmaps to build resilience. 

Sophie Griffin

Sophie Griffin

ESG Leader, Pacific Region, Marsh’s Advisory

  • Australia

Sophie Griffin is a principal consultant with Marsh’s Advisory practice in the Pacific. Sophie helps Marsh clients reduce their exposure to natural hazards through modelling, emergency response planning, business continuity planning, and recommendations related to physical loss and resultant business interruption.

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