James Addington-Smith
President, Marsh Asia
26.5% of Asia’s GDP may be at risk if no action on climate change is taken by 20501, and can cause far-reaching impacts on various sectors, including critical infrastructure, agriculture output, public health and the economy.
However, developing East and South Asia and the Pacific will need up to US$644 billion of adaptation investment annually to meet the regions’ needs from 2021 to 2030, and there is still a more than 90% gap in global adaptation finance2.
While the private sector has a crucial role to play and needs to make a stronger commitment to address climate adaptation with investments in climate resilience, they often encounter the following challenges:
CCARE brings together a dedicated and highly experienced team of climate risk and resilience experts, along with industry-specific experts to:
Fig 1. Marsh Climate Adaptation Framework
Effective climate adaptation efforts rely on strong public and private partnerships, and Marsh CCARE is also instrumental in fostering a collaborative environment for public sector engagement. Leveraging its climate adaptation capabilities and solutions, CCARE supports the alignment of policies and frameworks that incentivise and empower climate adaptation initiatives, helping to ensure a coordinated and impactful approach.
CCARE draws upon the extensive knowledge and experience of a highly skilled team comprising over 100 dedicated experts in climate risk and strategy, business resilience, and engineering, based in Asia. This team has assessed the impact of climate perils on more than US$1 trillion in asset value in Asia in 2023. Their expertise has also benefited the scientific community through over 20 authored publications on climate risk.
Marsh Asia is committed to tailoring effective climate adaptation approaches, and leverage the collective power of public and private collaboration to enhance the ability to adapt to the impacts of climate change and build a more resilient and sustainable future for all.
President, Marsh Asia
Climate & Sustainability Advisory Leader, Asia and Pacific, and Climate Centre of Excellence Co-Leader
Singapore
Head of Alternative Risk Transfer, Asia
Hong Kong
Head of Analytics, Asia
Singapore
Head of Climate & Sustainability, Marsh McLennan Asia
Singapore
Head of Strategic Risk Consulting, Asia
Head of Property Engineering, Asia
Singapore
High Tech Engineering Leader, Asia
Taiwan
SVP, Global Energy Risk Engineers, Asia
1 The Economics of Climate Change: Impacts for Asia. https://www.swissre.com/risk-knowledge/mitigating-climate-risk/economics-of-climate-change-impacts-for-asia.html
2 Adaptation Gap Report 2023. https://www.unep.org/resources/adaptation-gap-report-2023
Explore Marsh Global Climate Resilience and Adaptation Hub here.