This is an important question that we need to keep asking ourselves. As we continue on our journey of embedding climate-risks into our practices. Both in the sector, and in our supervision. How climate change impacts insurance companies and pension funds We all remember the scorching heatwaves and droughts of recent years. 18 of the 19 hottest years have all been this century.
You all will have seen the images of flooded Venice, where San Marco square is now completely shut off by local authorities, after the second-worst flood ever recorded… Heatwaves, hail storms and floodings have a direct impact on the economy. Reduced productivity… More epidemics and transport disruption… These are just a few of the effects we experienced this summer.