KPMG and Zurich Resilience Solutions have come together to announce a significant new strategic partnership.
This collaboration is set to launch advisory services focusing on addressing both physical and transition-related climate risks.
In an increasingly volatile climate landscape, businesses today face a myriad of challenges related to changing environmental conditions. Recognising the pressing need for comprehensive risk management solutions, the collaboration between KPMG and Zurich aims to offer a unified, strategic response to these challenges.
Zurich Resilience Solutions is a commercial risk advisory and services unit within the larger Zurich Insurance Group, focusing primarily on equipping businesses with the tools to understand and navigate various commercial risks. KPMG Switzerland, on the other hand, is part of the global KPMG network, renowned for its expertise in business consultancy and risk assessment, particularly in the transition to eco-friendly operations.
The freshly launched offering from the collaboration is built on a foundation of holistic climate risk management. This involves addressing transition-related risks such as policy shifts, reputation management, and market preference changes. Additionally, it also seeks to manage physical risks stemming from rising instances of extreme weather events.
This climate risk advisory service features bespoke climate scenario analyses. These analyses are designed to pinpoint material exposures and evaluate the financial impacts throughout the entire value chain. The ultimate goal is to empower businesses to fathom their climate risk exposures, bolster their physical and operational resilience, craft apt transition strategies, and identify and leverage opportunities related to climate transitions.
The innovative service will first be rolled out in Switzerland. However, both KPMG and Zurich have aspirations to introduce it to wider markets spanning Europe, the Americas, and the Asia Pacific region.
KPMG Switzerland Global Client Lead Partner, Marc Gössi, 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.”
Zurich CEO Commercial Insurance, Sierra Signorelli, remarked, “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 organisation that shares our values and combining our strengths, we can have a greater impact and drive meaningful change towards a more sustainable future.”
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