Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the launch of a suite of advisory and modelling services to help clients integrate climate change strategies into their Environmental, Social and Governance (ESG) programs.
Key services include natural hazard risk assessment and risk modelling, exposure data enhancement, and adjustment of catastrophe models, as well as capital modelling and solvency capital requirement calculations, and regulatory compliance processes.
The suite will also focus on traditional risk transfer, parametric instruments and catastrophe bonds, in addition to advice on public risk transfer solutions and public/private partnerships, and risk underwriting for new technologies and infrastructure.
“The myriad challenges resulting from climate change have initiated action, with early adopters seeking to demonstrate best-in-class responses to these issues,” said Peter Hearn, CEO at Guy Carpenter.
“To reach that level, clients must gain clarity around critical areas such as their physical exposure to climate risk, how they manage transition risk, how they address potential liability risk, and how they underwrite towards greener outcomes. By offering this wide spectrum of climate-focused services and collaborating with the wider Marsh McLennan businesses, we can help our clients achieve that clarity.”
Working in tandem with Marsh, Oliver Wyman, and Mercer, Guy Carpenter is also provides client services that span several other climate-related areas, including transition risk modelling, climate investment portfolio modelling, asset-level resilience surveys and scoring, and commercial due diligence.
Dean Klisura, President at Guy Carpenter, also commented: “Managing climate risk is becoming an increasingly prominent component of an organization’s overarching Environmental, Social and Governance approach, with the majority of our clients expressing a strong desire to develop robust strategies on this front.”
“As the direct impacts of a shifting climate reverberate through our industry, Guy Carpenter is working to provide our clients with the foundations necessary to build resilience, ensuring that they are in turn able to deliver for their clients during this transformative period for our planet.”