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Marsh Centre for Climate Adaptation and Resilience Excellence (CCARE)

Marsh Asia’s CCARE brings together climate adaptation expertise, best-in-class data and modelling capabilities, access to capital pools, and innovative insurance products to help pivot your business strategy to adapt to a changing climate and prepare for new extremes.

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We offer:

  • High-quality risk insights with unmatched data and analytics
    We leverage proprietary and leading data providers to provide best-in-class models and deliver quality, actionable risk insights.
  • Collective expertise in industry and climate risk
    We combine expertise in industries, climate risk, and resilience strategy to develop tailored approaches and methods to protect existing assets and values; and ensure future business strategy is fit for purpose for a changing climate in the long run.
  • Capital and insurance access
    We partner with financial institutions to facilitate access to capital pools and innovative insurance products to provide cover for extreme weather events and to define and deploy adaptation finance.

Despite Asia being the most impacted region by extreme weather and climate threats, businesses face challenges in navigating climate adaptation journey.

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: 

  • Lack of awareness of climate-related risks and clear ownership of climate adaptation responsibilities among public and private stakeholders.   
  • Data and modeling that does not fully inform and support quantification and pricing of climate-related risks.
  • Inability to articulate their business case to obtain financing for climate adaptation initiatives.

How can businesses overcome the climate adaptation challenges?

Marsh Asia takes the lead in spearheading CCARE, an initiative with initial focus in empowering businesses in communication and technology, energy and power, and agriculture sectors to effectively pivot their business strategies in response to climate change. 

CCARE brings together a dedicated and highly experienced team of climate risk and resilience experts, along with industry-specific experts to:

  • Assess the effects of climate change at both system-level (e.g., suppliers, customers, and critical infrastructure), and asset-level (e.g., physical assets, operations and people and emergency response) for organisations. (Fig. 1)

Fig 1. Marsh Climate Adaptation Framework

  • Integrate climate resilience actions into their long-term strategies with a compelling business case for action.
  • Prepare for future climate extremes, fostering more resilient and sustainable communities and economies across Asia. 
  • Articulate their needs to obtain financing for climate adaptation initiatives through partnerships with financial institutions and insurers, as well as public and private partnerships. 

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.

Why Marsh?

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:

  • 500+ site inspections conducted in Asia in 2023.
  • Over US$3 trillion total value modelled against climate perils in Asia in 2023.
  • 170+ Parametric policies placed.
  • 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.

Speak to us today for more information about our climate adaptation solutions.

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.

Our People

Placeholder Image

James Addington-Smith

President, Marsh Asia

Dr. Graeme Riddell

Dr. Graeme Riddell

Climate & Sustainability Advisory Leader, Asia and Pacific, and Climate Centre of Excellence Co-Leader

  • Singapore

Si Si He

Si Si He

Head of Alternative Risk Transfer, Asia

  • Hong Kong

Jessica So

Jessica So

Head of Analytics, Asia

  • Singapore

Marshall Lee

Marshall Lee

Head of Climate & Sustainability, Marsh McLennan Asia

  • Singapore

Derek Taylor

Derek Taylor

Head of Strategic Risk Consulting, Asia

Alfred DeGuzman

Alfred DeGuzman

Head of Property Engineering, Asia

  • Singapore

Benny Chen

Benny Chen

High Tech Engineering Leader, Asia

  • Taiwan

Jon Wilkinson

Jon Wilkinson

SVP, Global Energy Risk Engineers, Asia

  • Singapore