Global professional services firm Aon has announced the launch of its new centre of excellence for climate and weather risk, intended to help global businesses and governments tackle the problems posed by climate change and increasing numbers of extreme weather events.
The Aon Weather & Climate Risk Innovation network will help clients to evaluate the potential impact of climate and weather risk on their operations, and come up with risk financing strategies to make them more resilient in the face of a problem that only seems set to get worse as countries continue to fail to meet their sustainability targets.
Combining extensive sector knowledge, experience and expertise with advanced data and analytics use, the network makes heavy use of the recommendations of the G20’s Financial Stability Board on climate risk disclosure.
“There has been a shift in the landscape regarding how companies, investors and regulators view weather and climate risk,” said Greg Lowe, Aon’s Global Head of Resilience and Sustainability. “Collectively, this growing awareness has brought insurance tools, such as catastrophe modelling and hazard maps, and instruments, such as catastrophe bonds, to the fore. In light of this, we have decided to strategically combine the capabilities that we have across our firm to address what has been identified as a critical change for businesses and society.”