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Zurich Resilience Solutions, the commercial risk advisory and services unit of Zurich Insurance Group, has introduced Climate Spotlight, a digital tool designed to help businesses and public entities understand and manage their climate-related risks.
This solution utilises climate data to provide insights that support the anticipation, mitigation and management of climate risks, fostering resilience.
Climate Spotlight comprises two main offerings – Climate Spotlight Core and Climate Spotlight Expert.
The Core product provides a live, self-serve dashboard, enabling organisations to assess climate risk exposure across up to 100 sites globally.
The Expert product offers further customisation including tailored metrics, vulnerability data, analysis for an unlimited number of sites and access to in-house climate risk specialists.
This service aims to facilitate strategic and operational decision-making by offering a view of climate change-related exposures.
It also supports climate reporting, with analysis that spans four climate change scenarios until the year 2100.
This includes risk identification and evolution, aligning with the corporate sustainability reporting directive requirements and integration with the task force on climate-related financial disclosures framework.
The launch of Climate Spotlight is in line with Zurich's dedication to assisting customers through their climate transition and enhancing their ability to manage climate risks effectively.
Zurich Resilience Solutions climate and sustainability solutions global head Amar Rahman said: “Understanding your climate risk exposure and developing effective strategies for mitigation and adaptation is of strategic importance. Climate Spotlight caters to the needs of companies and public entities by giving them access to state-of-the-art climate risk data and analysis in a flexible and accessible manner that empowers them to take action and safeguard their people and assets.”
Recently, Zurich Insurance Group announced new three-year targets ahead of its 2023–25 cycle's conclusion at the company's Investor Day.
These include striving for a core return on equity of more than 23% from 2025 to 2027, a cumulative cash generation exceeding $19bn (SFr16.8bn) within the same time frame and targeting an average annual growth of more than 9% in core earnings per share.
"Zurich unveils new climate risk management solution " was originally created and published by Life Insurance International, a GlobalData owned brand.
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