2021 Climate & Resilience Risk Workshop
NOAA and Liberty Mutual Insurance partnered to host the virtual Climate and Resilience Risk Workshop this October that brought together key stakeholders from the government, climate, insurance and financial sectors to discuss the policy landscape and explore the challenges with respect to climate data and community impacts of climate change. Learn more in the event summary.
The IPCC Sixth Assessment Report highlights the need to reduce emissions immediately to mitigate accelerating physical risks. The financial sector has a key role to play in supporting innovation, and in financing the transition to a low carbon economy. However, policy and action need to be informed by an understanding of the availability and usefulness of climate data and considerations of the interconnectedness of financial ecosystems.
Climate & Resilience Risk Workshop: Opening remarks
Introductions from Don Graves, Deputy Secretary of Commerce, U.S. Department of Commerce; Richard W. Spinrad, Ph.D., Under Secretary of Commerce for Oceans and Atmosphere and NOAA Administrator; James M. MacPhee, Executive Vice President, President, Global Retail Markets, Liberty Mutual Insurance
Climate & Resilience Risk Workshop: Challenges of climate data services
This panel focuses on the current state of climate risk modeling (catastrophe and climate models). It explores what aspects of climate modeling and forecasting are known and what scientific data can be incorporated into catastrophe models to make them more suitable to assess risks in the mid-and-long-time horizons. Additionally, it highlights gaps in climate data, how those gaps hinder resilience planning, and what actions are needed to address those gaps.
Climate & Resilience Risk Workshop: Community Impacts of climate change
This panel highlights the interconnectedness in risk financing, by drawing links between the identification and pricing of climate risks and the follow-on impact on the financial ecosystem. It explores actions needed by governments and communities to absorb financial impacts.
Climate & Resilience Risk Workshop: Meet the NOAA experts
Meet the workshop's NOAA experts. This panel showcases some key NOAA science and capabilities that can be used to assist the insurance and finance industries in their decision-making, and what improvements are needed in data collection and analysis.