A holistic approach to climate risks and opportunities

“Climate change and ESG is one area where every function of the company needs to work together,” said Adhiraj Maitra from Willis Towers Watson. (Photo: Sepp photography/Shutterstock)

As global warming contributes to more severe and frequent weather catastrophes, insurers and reinsurers will play a more prominent role in helping society mitigate climate risks and build economic resilience in the coming years. Faced with this opportunity to be global leaders fighting climate change, (re)insurers must build knowledge around the risks and strengthen their own operations.

A recent white paper, “The journey to net zero: An insurer’s guide to navigating climate risks and opportunities,” from Willis Towers Watson (WTW) and Wellington Management, aims to serve as a pragmatic guide for insurers and reinsurers as they navigate climate risks and opportunities.