Zurich Resilience Solutions and KPMG Switzerland have formed a strategic collaboration to offer advisory services to address the physical and transition risks associated with climate change.

The frequency, duration and severity of extreme weather events have increased and pose an emerging threat to businesses and communities, with buying behavior shifting accordingly.
Transition risks include policy changes, reputational impacts and shifts in market preferences, norms and technology. Having a holistic approach to climate change risk can help companies to better protect their assets, operations, employees and the communities in which they work, while complying with relevant reporting standards, frameworks and regulations.

The new partnership will combine Zurich’s physical risk assessment with KPMG’s transition risk assessment capabilities, with the goal of helping businesses to better understand and manage their exposures, while also strengthening physical and operational resilience, and to develop transition strategies to a low-carbon economy and to seize opportunities arising from this process. At the core of the combined services is a customised climate scenario analysis.

Sierra Signorelli, CEO commercial insurance at Zurich, said: “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.”

Marc Gössi, global client lead partner at KPMG Switzerland, added: “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. By bringing together Zurich's strong physical risk capabilities and the specialised expertise of KPMG professionals, we empower our clients to craft judicious and sustainable choices, underpinned by a comprehensive climate risk assessment that takes into account the broader picture.”

The offering is initially available in Switzerland and later in other markets across Europe, the Americas and Asia-Pacific.

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