Climate Change & COVID-19: global challenges shaping our lives

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Both threaten our health and economy, but also offer us an opportunity to rethink the way we do business. For instance, we can use data to pick suppliers with the lowest carbon footprints, transforming the supply chain while at the same time helping mitigate climate change. And these actions can be beneficial in other ways. As the current health crisis has shown, sustainable, resilient, and smart corporates in the financial industry have a competitive advantage.
Getting serious about climate changeFortunately, a growing number of re/insurers, including Swiss Re, have publicly announced their support of the Paris Agreement. They committed to transitioning their investment portfolios to net zero greenhouse gas emissions by 2050. And, more recently, they made the same commitment for their insurance portfolios.Just as we had previously known of the risk of a global pandemic, scientists have warned for a long time about the impact of global warming and the urgent need for more sustainable business models. Global warming and urbanisation are the main causes of the increased risk of natural catastrophes. We live, build and work in locations most at risk from floods, storms, wildfires and extreme weather events. In cities or towns along the coast, on …

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