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Zurich Resilience Solutions (ZRS), the business risk advisory and services arm of Zurich Insurance Group, has partnered with climate service provider and carbon project developer South Pole to launch a new climate change offering for companies.
According to Zurich, the joint offering will initially be available in the US, Germany and Switzerland. It helps businesses tackle both sides of the climate challenge simultaneously, helping them define and implement their short- and long-term climate resilience objectives, as well as their net-zero goals. It focuses on measuring physical climate risk and emissions, helps establish a strategy to reduce each, and oversees actions to meet local regulatory and sustainability reporting requirements.
“Defining and deploying effective climate adaptation and mitigation strategies requires specialized knowledge, and for multinational companies this can be very complex and time-consuming,” said Hanno Meijer, global head of Zurich Resilience Solutions. “Demand for climate resilience services has grown exponentially in recent years. Collaborating with the South Pole will allow us to holistically address climate-related risks by supporting clients’ net-zero travel and resilience.
Zurich said Companies must intensify their efforts to collectively reduce emissions and successfully transition to net zero and minimize environmental impacts. At the same time, companies must prepare and adapt to the effects of global warming and consider the current and future impacts of climate change on their business. According to the Climate Disclosure Project, the financial benefits of climate action outweigh the costs of the risks by at least 15 times.
Companies increasingly understand that taking climate action is critical to managing their operational risks, but more stakeholders expect companies to openly demonstrate how they actively reduce their environmental impact and create resilience in their value chain, and more importantly, to report frequently on the effectiveness of these measures.
“Companies that fail to demonstrate their progress in building resilience and reducing emissions could pay a price, both reputationally and financially,” said Renaud Heuberger, CEO of South Pole. “But knowing where to start can be difficult. We’re excited to combine South Pole’s best-in-class climate consulting with the expertise of Zurich Resilience Solutions to guide corporate leaders toward effective mitigation and adaptation efforts – for business success and climate protection.
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