Closing the gap on climate action

Zurich’s new report, Closing the gap on climate action, explores the actions that both business leaders and policymakers should be taking to help achieve a climate-resilient economy.

• Chapter 1 covers the latest edition of Zurich’s Climate Change Scorecard, which tracks progress towards a 2°C scenario across 12 climate metrics. It highlights where, sometimes surprisingly, positive developments have been made and where challenges remain.
• Chapter 2 explores how companies can adopt mitigation measures to help curb carbon emissions and develop net-zero business models. It draws on market insights, Zurich’s own experiences, and highlights where insurers, as well as risk managers and investors, can help companies and societies manage the transition risks associated with decarbonization.
• Chapter 3 focuses on resilience and the unavoidable physical risks associated with ongoing climate change. It advises on how businesses could include adaptation measures into their strategies to help tackle these risks and leverage them as opportunities.
• Chapter 4 addresses the debate on climate policy. It offers recommendations on where government action in the short term could have the biggest impact in supporting a smooth transition to net-zero.

In Chapter 3, the reports proposes three key steps of a climate resilience adaptation strategy:

• Identify the broad business and strategic risks;
• Develop a granular view of the risks involved;
• Develop a mitigation strategy.