A hiker stands atop a rocky outcrop near a summit and surveys the valley below

Economists and scientists have studied climate risk for decades, however, climate science is relatively new to the private sector and regulators alike. Approximately five years ago, many of these stakeholders turned their focus to climate change and understanding its potential impact. Fast forward to present day; both groups are catching up at an unprecedented speed. This is a timely development as many see climate risk as a large driver of industry change which will allow innovators to reap profits while leaving laggards with losses and stranded assets. There are myriad impacts to the world as a result of the climate change issue and one thing is for sure; climate risk consideration and the management thereof will remain a hot topic for years to come.

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