Zurich Insurance Group’s commercial risk advisory and services unit, Zurich Resilience Solutions, and KPMG Switzerland announced today a new strategic collaboration, offering advisory services aimed at addressing physical and transition climate-related risks.
The new offerings will launch initially in Switzerland, with the companies planning to extend the service to markets across Europe, the Americas and Asia Pacific regions.
According to the companies, the new offering aims to provide companies with a holistic approach to climate risks, which include transition-related risks such as policy changes, reputational impacts, and shifts in market preferences, and physical risks such as those caused by increasing extreme weather events.
Marc Gössi, Global Client Lead Partner at KPMG Switzerland, said:
“In the current landscape, effective climate risk management has developed into a paramount concern for businesses. The imperative lies in fortifying resilience across the entire value chain.”
The new collaboration brings together Zurich’s climate resilience expertise in physical and operational risk, and KPMG’s capabilities in assessing business-related risks that occur through the transition to a low-carbon economy.
The new offering includes customized climate scenario analysis, aimed at identifying material exposures and assessing financial impacts across the entire value chain, in order to help businesses understand and manage their climate risk exposure, strengthen physical and operational resilience, and develop transition strategies, as well as to pursue climate transition-related opportunities.
Sierra Signorelli, CEO Commercial Insurance at Zurich, said:
“Our collaboration with KPMG is a great example of how we are delivering on our commitment to use our capabilities to help customers around the globe tackle the challenges of climate change. By working together with a like-minded organization that shares our values and combining our strengths, we can have a greater impact and drive meaningful change towards a more sustainable future.”