Extreme weather-related exposures are reshaping the way asset owners and investors think about an asset’s resilience and long-term value. Amid concerns around climate-related losses, access to affordable insurance is increasingly influencing whether assets are considered financeable, bankable, and ultimately viable over the life of an investment.
This shift is driving more attention to forward-looking climate analysis. Many organizations are looking more closely at how both acute risks, such as storms, floods, and wildfires, and chronic risks, like rising temperatures and water stress, could affect assets over time and what that could mean for resilience, operations, and exit value. And with climate impacts appearing in both traditional and less conventional claims patterns, greater attention is being paid to adaptation measures and the role resilience investments can play in supporting long-term asset performance.
In this episode of Risk in Context, Amy Barnes, Marsh’s Global Head of Energy & Power, speaks with Callum Ellis, Marsh’s Head of Climate Resilience in the UK, Doug Halvorson, Managing Director within Marsh’s Private Equity Mergers and Acquisitions Practice in the US, and Steve Hatfield, co-head of Global Sustainability at Carlyle. They discuss why insurability has become a critical consideration for investors, why historical assumptions may no longer be enough, and how a more structured approach to resilience could help organizations make better-informed investment and risk management decisions.
Energy & Power, Climate & Sustainability Strategy Head, Marsh
United Kingdom
Amy Barnes is Marsh’s Global Head of Energy & Power and also heads Marsh’s Climate and Sustainability Strategy. Prior to this, she held several leadership roles with Marsh’s global energy, power, and renewables businesses. She has a respected depth and breadth of experience assisting some of the largest and most complex companies in managing risks.
Head of Climate and Sustainability, Marsh
United Kingdom
Callum Ellis is the Head of Climate and Sustainability within Marsh’s Climate Resilience & Strategy Practice. In this global role, he is the technical subject matter expert for climate risk modeling, supporting Marsh’s clients with understanding, quantifying, and reporting on their climate exposures. Alongside modeling, he often works with clients to identify operational resilience measures to help mitigate potential future climate risk. He also co-leads Marsh’s Center of Excellence for climate risk, heading a dedicated team of climate practitioners.
Managing Director, Private Equity Mergers and Acquisitions Practice, Marsh
United States
Doug Halvorson is a Senior Relationship Officer and Portfolio Manager within Marsh’s Private Equity and M&A Services Practice. He works with the firm’s largest private equity and infrastructure fund clients on all aspects of their insurance needs. He started his career in the insurance industry in 1994 as part of Marsh’s Global Property Practice, serving multinational risk management clients.
Co-Head, Global Sustainability, Carlyle
United States
Steve Hatfield is Co-Head, Global Sustainability at Carlyle, based in Washington, DC. Prior to joining Carlyle, he helped lead ESG integration across investments at Cerberus Capital Management. Prior to that, he was a Manager at PwC where he advised clients in many sectors, including private equity and asset management, on ESG and sustainability related matters.
