Climate change and environmental degradation pose a growing threat to social and economic systems, particularly due to the increasing frequency and intensity of extreme weather events. These developments could significantly damage sectors such as insurance and finance in particular and lead to global economic losses.
In this context, climate risk assessments are becoming increasingly important. Initiatives such as the Network for Greening the Financial Sector (NGFS) and the Task Force on Climate-Related Financial Disclosures (TCFD) are setting new standards and providing comprehensive climate data for companies and financial institutions.
However, the precise modeling of extreme events and the consideration of complex climatic interactions continue to pose a challenge. In order to promote the exchange between science, business and the financial sector, an interdisciplinary session will be offered at EGU 2025, which will deal with the following topics:
- Climate risk models: chronic and acute risks, compound events, extreme weather events
- AI and machine learning approaches: Bias adjustment, downscaling, fast climate models
- Climate risk indicators: For sectors such as energy, food, insurance, real estate
- Loss assessment and evaluations: Empirical data, global and local loss functions
Abstracts are still being sought for the session, focusing on innovative approaches to climate risk assessment and their economic impact. The deadline for submission is January 15, 2025.
You can find more information here.
(Image source: EGU)