The climate conversation has rapidly shifted and continues to do so. Investors are demanding climate disclosure, central banks are working together to ‘green the financial system’ and expectations of employees and customers alike are becoming ever more demanding. The need to manage climate risk and support an orderly transition to a low carbon, resilient economy is no longer a matter of conscience, but a strategic and financial imperative. Companies in Ireland are no different and across 2022 we have seen an increasing focus from capital market participants – insurers, investment funds and banks – on how they assess the actions of companies to address their resilience to climate risks. Alongside greater reporting requirements, 2023 will likely see corporates being scrutinised further around their future strategy and not just past actions.
We understand that everyone’s level of knowledge and experience of managing climate risk may be different. Whichever stage of the climate risk management journey you are on, WTW can help you to respond differently to navigate the volatility, build a resilient workforce and seize opportunities.