Climate Change -
The Importance of Organisations Acting Quickly

“Risk managers must integrate climate change within their existing emerging risk management framework and processes” While the COVID-19 pandemic has rightfully taken up most of our attention, we must not lose sight of the growing risks posed by climate change. Organizations must enhance their frameworks and risk maturity to effectively identify and incorporate climate change risks and opportunities into their strategic decision-making. Given the pressing need for enterprises to better identify, assess and manage climate-related risks, the Financial Stability Board has developed a new climate risk taxonomy to provide a clear delineation of physical, transition and liability risks. Read Martin Massey’s full article in the summer edition of the Enterprise Risk Magazine here https://lnkd.in/eyfvdUy, where he underlines the importance of organizations acting quickly to avoid the worst impacts of another pending worldwide catastrophe – climate change.
Read Martin Massey’s full article here

The Climate Change Resilience Forum 2021

The Milliman Climate Resilience Forum - Join us March 2-4, 2021, for exclusive conversations with global leaders as we unite perspectives across the business, government, academic, and not-for-profit sectors. Climate change is not a problem that will be solved in silos—and as experts in risk, Milliman has a unique view into our climate future and its cascading effects on governments, communities, and businesses. The time to bring together all parties and move toward climate resilience is now. Register now to be part of three days of exclusive keynotes, debates, and insights into how to address the most pressing of issues facing our planet.
Learn more here

Climate Change Matters – IRM Newsletter 4

 Delighted to share the 4th Edition of the IRM's Climate Change Special Interest Groups Newsletter. Please find updates on our activities for our SIG Members as well as recent news, published reports and best practice guidance. This is becoming the "go to place" for Climate Change information.

Learn to Translate the Complexity of Climate Change

We are excited to team up with Imperial College London to deliver a practical course on Climate Change Risk Management. The course aims to balance theory with practical tools and techniques to help translate the complexity and uncertainty of climate change to organisations. Please see the link and details below for further information and registration details.

Learn more here

Climate Change Risk Assessment for the Insurance Industry

 Risk managers need to play an increasing role in driving the scenario selection and design decisions to assess future climate scenarios in a rapidly changing world. Please find a report from The Geneva Association at the link below, which outlines how the insurance industry is taking steps to strengthen further its global collaboration across P&C and life re/insurers to advance methodologies and tools for climate risk assessment and scenario analysis for both sides of the balance sheet. One Risk Consulting is currently working with Milliman to develop an innovative process that can help organisations through assessing key triggers and drivers on future profitability across an insurers insurance risk profile.
https://buff.ly/3qllLdM

The Climate is Changing So Should We

The Covid crisis has overshadowed the risks most businesses believed they faced only 18 months ago. Risks from cyber-attacks and disruptive competitors are still there, but we are now more aware than before of threats presented by broader more general global disturbances—and there is no greater such treat than climate change. A recent report from the UK’s Institute of Risk Management (IRM) suggests that businesses need to pay immediate attention to how they prepare for and manage climate change risk in six key areas......read more at the link below:

https://lnkd.in/gzP3d5C

Climate Change Matters – IRM Newsletter 5

Delighted to share the 5th Edition of the IRM's Climate Change Special Interest Groups Newsletter. Please find updates on our activities for our SIG Members as well as recent news, published reports and best practice guidance. This is becoming the "go to place" for Climate Change information

'Practical approaches to integrate climate change risk into risk management frameworks

It was a pleasure to host the recent IRM's Climate Change SIG webinar 'Practical approaches to integrate climate change risk into risk management frameworks'. Our presentations covered case studies from practitioners focussing on the risk management process of identification assessment, monitoring and reporting of climate change risks and engagement with the first line, to support decision making.
Thanks to all the speakers who joined me in making this event a great success, and also Clive Thompson for chairing the session. If you would like to discuss any aspect of the topics we covered, please do not hesitate to email martin.massey@oneriskconsulting.com.
Learn More about our IRM Climate Change SIG Group here:

Climate Change 2021: The Physical Science Basis Report

This report provides the most updated physical understanding of the climate system and #climatechange, combining the latest advances in climate science, and multiple lines of evidence. The United Nations Intergovernmental Panel on Climate Change IPCC report "is a code red for humanity", says the UN chief. Human activity is changing the climate in unprecedented and sometimes irreversible ways, this major UN scientific report has said. The landmark study warns of increasingly extreme heatwaves, droughts and flooding, and a key temperature limit being broken in just over a decade.
Read the full report: https://bit.ly/WGICC2021
Press release: https://bit.ly/WGICC2021PR
Join our Climate Change SIG to be at the heart of the debate and best practice for risk managers and those working in risk to manage the expectation from key stakeholders including regulators that existing risk management frameworks will need to address risks from climate change. https://lnkd.in/e3EECzU