Marsh and Risilience are to collaborate on a risk platform to help the former’s clients understand the risks resulting from climate change.
The project, done through Risilience’s risk platform, will reportedly help clients map their journey towards net zero and help them generate annual climate risk reports that fall into line with their Taskforce on Climate-Related Financial Disclosures (TCFD).
Amy Barnes, head of climate and sustainability strategy at Marsh, said: “COP26 represented a turning point in climate change mitigation, and the actions taken by governments and industry in the next decade will be critical to achieving the goal of global net zero by 2050.”
She added: “By using Risilience as part of our climate change consulting services, Marsh can support our clients to be more resilient to climate risks as they emerge, develop actionable plans to reach net zero within their timeframes, and meet their TCFD obligations.”
Marsh’s announcement comes just over a week since the World Economic Forum (WEF) said it identified climate failure as the ‘foremost long-term global risk’.
That report said: “Respondents to the GRPS rank “climate action failure” as the number one long-term threat to the world and the risk with potentially the most severe impacts over the next decade. Climate change is already manifesting rapidly in the form of droughts, fires, floods, resource scarcity and species loss, among other impacts.”
Attempts to move to net zero, said the WEF, are also fraught with uncertainty. It wrote: “Governments, businesses and societies are facing increasing pressure to thwart the worst consequences. Yet a disorderly climate transition characterized by divergent trajectories worldwide and across sectors will further drive apart countries and bifurcate societies, creating barriers to cooperation.”
Barnes joined Marsh in April last year to lead the company’s sustainability and climate change strategy.
