Resilient cities - Hong Kong report: extreme heat



Clyde & Co’s climate change consultancy

In a globalised world, no industry or business can avoid the physical effects of climate change. From reliability of supply chains, physical damage to infrastructure, interruption to water and electricity supplies, through to a greater need for cooling and refrigeration, to an increased likelihood of extreme weather events, companies need to be aware of the key physical risks to their business and to the economy generally. Climate change is now a critical board room issue; boards have responsibilities to shareholders and other stakeholders to understand, measure, mitigate and report on those risks. A broad spectrum of businesses are at risk of climate related litigation,fromclaimsagainst corporations whose activities may have contributed to climate change or for alleged failure to protect assets and investments against the impact of physical or transition risks. Not only the corporations themselves but also their directors and officers are at risk of being held to account.

Clyde & Co is committed to supporting initiatives that facilitate greater resilience in the developed and developing world. Helping businesses deal with the multifaceted effects of urbanisation and climate change is an area where Clyde & Co is particularly active, with extensive experience advising a range of clients in many sectors on the complex issues it raises and how to adapt to these disruptive forces.We can assist companies and their insurers in navigating loss and identifying opportunities, such as green investment and green finance. In the face of climate change, the risk management challenges facing corporates, governments and communities are considerable. As a leading law firm in the insurance, construction, marine and aviation sectors, Clyde & Co Hong Kong is well-placed to assist clients inmitigating and adapting to the risks resulting from climate change as highlighted in this report.

Clyde & Co is offering a consultancy service to (re)insurers and other PRA- regulated entities in relation to the following projects: –– Reviewing corporate governance, disclosure and reporting; –– Identifying exposure to underwritten risks in specific sectors and/or jurisdictions; –– Locating ‘silent environmental’ exposures in policy wordings; and –– Developing new products such as parametric insurances and bonds.

For more information, please contact Nigel Brook.

Nigel Brook Partner, London T +44 (0) 20 7876 4414 E

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