WEBVTT

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We've had an incredible year

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of record breaking temperatures
and extreme weather.

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Are businesses doing enough
to adapt? Are they ready?

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- I don't think businesses are ready.

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I think we are all realizing
how fast things are changing.

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We try to quantify how
much damage there was

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over the past years
resulting from climate change

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and the second and third order effects.

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And in 2022 alone, we
quantified that amount

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to be about $200 billion US alone.

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And a big part of that is not insured.

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So it hits the P&L of
companies around the world.

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So it hits the P&L of
companies around the world.

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And I do think they're waking up.

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I do think they're realizing

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this has a major impact
on their financials,

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it has a major impact
on their supply chain

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and operational resilience.

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For example, when you go

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into some of the consumer
goods categories,

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I mean, there's just not the
same amount of supply available

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at the same places as it used to be.

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And I mean, companies need to adapt.

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I think many have started,
but very few are at a point

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where I would say they
have fully embraced it

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and adapted to what will be
the reality going forward.