CLIMATE CHANGE
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Geosciences and Environment (FGSE), leveraging an interdisciplinary approach that serves as a major asset to the centre and the research it carries out. Its team is multidisciplinary, comprising experts in diverse fields, including meteorology, climatology, machine learning, statistics, extreme-value theory, geostatistics, quantitative risk management, actuarial science and green finance. This collaborative strength enables ECCE to fulfil its mission of generating scientific knowledge to better understand the complex challenges associated with climate catastrophes and to be better equipped to develop effective, tailored solutions. Moreover, the centre acts as a vital resource for policymakers and businesses, providing them with robust, evidence‑based insights on climate extremes in present and future climates to inform risk management and decision-making. Where climate science meets business To address the increasing occurrence and severity of extreme climate phenomena, such as floods, heatwaves and wildfires, the ECCE serves as a platform for collaborative and interdisciplinary work between climate science experts and HEC Lausanne specialists. Research projects conducted within ECCE aim to model these events and analyse their various impacts on societies and economies. For instance, modelling floods and heatwaves not only allows for the prediction of these events but also for the evaluation of their consequences on public health and infrastructure. The interaction between climatologists and management experts offers a broadened perspective: climate researchers provide precise data and predictive models, while HEC Lausanne specialists contribute to economic risk analysis, cost evaluation and the formulation of adaptation strategies for businesses and communities. This is particularly pertinent for projects that involve quantifying the human and financial costs associated with climate catastrophes, informing decision-makers on the investments necessary for improving the resilience of socio-economic systems. Furthermore, ECCE explores innovative approaches, such as the incorporation of stochastic modelling and machine learning techniques, to refine climate forecasts. This enriches the field of study and allows for a better understanding of
ecent catastrophic events – such as January’s wildfires in Los Angeles in the US, last year’s devastating floods in Valencia, Spain and Rio Grande do Sul, Brazil and increasingly frequent storms across
Europe, including severe weather and landslides in Switzerland – highlight the magnitude of the challenges posed by climate change and increasing frequency of extreme climate events. The intensity of such disasters is expected to increase in the coming years, resulting in devastating humanitarian, societal and economic impacts that can be measured in billions of dollars. That’s why understanding and managing the risks surrounding extreme climate events is now crucial for decision‑makers and future leaders of both public institutions and private corporations. This requires the development of new models for predicting extreme climate events. However, it also entails an update of the cost functions related to damages from these events, as well as the adaptation of leadership In this context, the University of Lausanne launched the Expertise Center for Climate Extremes (ECCE) in February 2024. Its primary goal is to assess the growing risks associated with climate extremes, so that society and businesses can better anticipate and respond to these challenges. Climate extremes encompass all extreme events within the climate system occurring across various timescales, from short-term weather events (days or weeks) to longer-term climate phenomena. These include extreme rain and snow, heatwaves, cold spells, windstorms, severe thunderstorms, hailstorms, tornadoes and tropical cyclones. They also cover droughts, wildfires, floods, landslides, avalanches, extreme snow depths and cryospheric events, such as rockfalls and glacial collapses triggered by permafrost melting. We believe that ECCE is the first and only centre of its kind established within any business school worldwide. It unites researchers from the University of Lausanne’s Faculty of Business and Economics (HEC Lausanne) and its Faculty of profiles for managers and decision-makers. An interdisciplinary platform
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Business Impact • ISSUE 1 • 2025
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