Managing climate risk in times of economic crisis with University of California, Berkeley

It's a turbulent time for the global economy, which is leading some companies to row back on their sustainability commitments and focus their efforts on what is deemed essential spending. However, environmental impacts go both ways: a company can create environmental damage, for example by polluting the air or water, but it can also be at the receiving end of this damage, when ecosystem breakdown leads to flooding or wildfires. Last week we introduced the concept of climate risk, what it is and why it matters. At this point, preventing and managing climate risk becomes essential spending. But how can companies prioritise it in times of economic crisis? In our latest episode, co-host Giulia Bottaro goes into more depth on how to address this challenge with Dave Jones, former California insurance commissioner and director of the Climate Risk Initiative at the University of California, Berkeley School of Law.Dave explains how evaluating climate risk is no longer a “nice to have”, especially as climate disclosure requirements are becoming a regulatory obligation globally. The discussion also delves into the role of insurance in managing climate risk, the importance of nature-based solutions, and the need for transparency and proactive measures in corporate practices.If you enjoyed this episode, subscribe to our newsletter and follow us on LinkedIn, TikTok and Instagram – and why not spread the word with your friends and colleagues?