1、How a holistic risk approach increaseS resilience in the face of a changing climate Fostering growth and building resilience in a changing worldHow a holistic risk approach increases resilience in the face of a changing climate 2ContentsKey takeaways 3The urgency of adopting a holistic approach to c

2、limate risks 4The components of a holistic approach 6Risk assessment 7Risk financing 8Resilience and adaptation 9Realizing the holistic approach to risk 11A holistic view of risk supports the optimal combination of risk finance and adaptation 13Endnotes 141Contents233a3b3c453dHow a holistic risk app

3、roach increases resilience in the face of a changing climate 3Key takeaways Climate change is putting pressure on existing risk and protection strategies,with current approaches to manage risk often inadequate to put society on a path to resilience.Catastrophe losses continue to increase across the

4、world.This is in part due to climate change,with other factors also influencing the evolution of natural catastrophe losses,including population growth,urbanization,and aging infrastructure and building stock,along with inflation.Global climate change is at risk of exacerbating the already significa

5、nt protection gap,leaving many communities across the world unprotected against worsening extreme weather events.The total costs of risks will continue to increase,unless significant action is taken to address existing vulnerabilities and to optimize resilience strategies.A holistic approach to risk

6、 management presents a viable path forward by quantifying,financing and reducing the risks in a coordinated way,thereby increasing resilience levels and ensuring the continued viability and profitability of the insurance industry.1Contents233a3b3c453dHow a holistic risk approach increases resilience