Climate Risk and Response: Physical Hazards and Socioeconomic Impacts

After more than 10,000 years of relative stability, the Earth’s climate is changing. As global temperatures rise, the risk of more severe weather events such as flooding, droughts and rising sea levels increases. Climate change is shaping human, physical and natural systems – from the world’s breadbaskets becoming less reliable to infrastructure breaking under climate stress – simultaneously benefiting some regions while hurting others. While some moves have been taken to improve the sustainability and resilience of our societies and economies, investors, companies and regulators need to up the pace and scale of adaption significantly in order to mitigate developing climate risks.

In January 2020, the McKinsey Global Institute (MGI) released their report ‘Climate risk and response: Physical hazards and socioeconomic impacts’ which assesses the nature and extent of the physical risk associated with climate change – including chilling projections for certain regions and industries. For instance, as much as 4.5 per cent of India’s GDP could be at risk annually as dangerously high temperatures reduce outdoor working hours and labour productivity. The report also suggests what policy makers and business leaders can do in the face of these challenges.

Jonathan Woetzel, MGI Director and Senior Partner, will join this Asia House event to deliver the findings of this high-impact research. He will be joined by a panel of experts to discuss how climate change is reshaping markets and the implications for business strategy and public policy.

AGENDA

8.30 – 9.00am: Registration and networking breakfast

9.00 – 9.05am: Welcome remarks by Lord Green of Hurstpierpoint, Chairman of Asia House

9.05 – 9:30am: Presentation of ‘Climate Risk and Response: Physical Hazards and Socioeconomic Impacts’ by Jonathan Woetzel, MGI Director and Senior Partner

9:30 – 11.00am: Panel discussions

Speakers include:

• Jonathan Woetzel, MGI Director and Senior Partner
• Dr Robert Falkner, Research Director of the Grantham Research Institute on Climate Change and the Environment, and Associate Professor in International Relations at the LSE
• Dr Rhian-Mari Thomas OBE, Chief Executive of the Green Finance Institute
• John Scott, Head of Sustainability Risk, Zurich Insurance Group
• Daniel Klier, Group Head of Strategy and Group Head of Sustainable Finance, HSBC
• Charlie Humphreys, Director of Corporate Affairs at Asia House [moderator]

SPEAKERS

Jonathan Woetzel, MGI Director and Senior Partner

Dr Robert Falkner, Research Director of the Grantham Research Institute on Climate Change and the Environment, and Associate Professor in International Relations at the LSE

Dr Rhian-Mari Thomas OBE, Chief Executive of the Green Finance Institute

John Scott, Head of Sustainability Risk, Zurich Insurance Group

Daniel Klier, Group Head of Strategy and Group Head of Sustainable Finance, HSBC

Charlie Humphreys, Director of Corporate Affairs at Asia House

This event will be held in partnership with McKinsey & Company and attendance is by invitation only. If you are interested in attending, please get in touch with Nadine Golding, Business & Policy Programme Assistant: nadine.golding@asiahouse.co.uk