Zurich, Switzerland — New forms of private-public partnerships are required to anticipate and respond to the risks related to climate change, according to Swiss Reinsurance Company Ltd. At the International Disaster and Risk Conference (IDRC) in Davos, Peter Forstmoser, Swiss Re’s chairman of the board of directors, presented the benefits of a risk management approach to climate adaptation.
The impact of hazardous events is continuing to rise, driven by interacting forces, including global warming, population growth, density of assets and the increasing vulnerability of aging infrastructure, according to the Zurich, Switzerland-based reinsurer. Such developments, and the exposure to climate change in general, fall disproportionately on developing nations, partly due to their limited capacity to adapt financially.
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