In light of COVID-19, the 26th United Nations Climate Change Conference of the Parties (COP26) – the most significant climate summit since the 2015 signing of the Paris Agreement – was postponed. However, this does not signify that climate change has been knocked off the agenda. In fact, critical momentum around this issue continues to build, according to Ruth Lux, Head of Public Sector EMEA, Guy Carpenter.
Earlier this year Guy Carpenter released a report on public sector risk – Protecting Our Planet and the Public Purse. It highlights how the risk landscape for public-sector entities is changing at an unparalleled rate, with extreme weather set to dominate government agendas for decades to come, along with how the reinsurance sector is ready and able to support the increasing strain on the public purse.