From major storms and floods, to water shortages, and extreme heat events, the impacts of climate change are being felt by communities and businesses in many parts of the world, devastating people’s lives, disrupting supply chains, and interrupting business operations. The wide-ranging impacts of climate change underscore the importance for businesses and authorities to focus on adaptation and take actions to build resilience.
While there is recognition of the impact of climate-related hazards, Marsh’s recently released Corporate Climate Adaptation Survey suggests that many businesses do not view climate adaptation as a current concern, but rather an issue for the future. Although the lack of standardized methods to measure resilience could negatively impact the way different entities collaborate and insufficient and incomplete data may impact organizations’ ability to take action, there is urgency to address climate change-related risks.
In this episode of Risk in Context, Amy Barnes, Marsh’s Head of Climate Change and Sustainability Strategy, talks with Gerardo Herrera, Head of Climate and Sustainability Strategy for Latin America and the Caribbean and Head of Marsh Advisory for the region, about some of the climate-related challenges and opportunities businesses in the region are facing. They also discuss findings from Marsh’s recently released Corporate Climate Adaptation Survey, share learnings from this year’s Climate Week NYC, and look ahead to this month’s COP16.
