A collection of initiatives aiming at our planet's sustainability:
GCCAPITALIDEAS.COM, July 7, 2020
As climate change and the associated increase in natural catastrophe events alters the contemporary risk landscape, there is now an opportunity for governments to partner with the (re)insurance market and put its expertise to work.
After a flood event, companies need to take into account both the short-term imperatives to get up and running quickly and the longer-term need to future-proof against a repeat event, according to Bev Adams, Head of Catastrophe Resilience and Visual Intelligence at Marsh Risk Consulting. Marsh is an affiliate of Guy Carpenter.
Investing in protection against repeat events over the longer term is just as important to consider as addressing the short-term imperatives for business operation.
Just as the current global health crisis has exposed the cracks in federal and state leadership and infrastructure, so too has it accentuated warnings about environmental challenges ahead.
As author Naomi Klein recently pointed out during a Fridays for Future webinar, our “normal” was grim to begin with. Headlines about the reduction of air pollution and the return of wildlife to Venetian canals — while giving false hope about the climate crisis — demonstrate changes that, according to a recent study, “are likely to be temporary as they do not reflect structural changes in the economic, transport or energy systems.”
What’s needed, therefore, is not a “return” to our old ways, but a recalibration of policy and economic models that will serve the interests of our communities and prioritize the local quality of life and environment over offshore profits in the post-COVID rebuild.