{"id":405212,"date":"2021-02-02T05:09:54","date_gmt":"2021-02-02T13:09:54","guid":{"rendered":"https:\/\/www.esri.com\/about\/newsroom\/?post_type=wherenext&p=405212"},"modified":"2024-05-10T06:32:29","modified_gmt":"2024-05-10T13:32:29","slug":"predicting-climate-risk","status":"publish","type":"wherenext","link":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/predicting-climate-risk","title":{"rendered":"As Disaster Costs Rise, Executives Add Prediction to Planning"},"author":501,"featured_media":0,"parent":0,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"sync_status":"","episode_type":"","audio_file":"","castos_file_data":"","podmotor_file_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","_links_to":"","_links_to_target":""},"categories":[455201,432271,381312],"tags":[],"department":[488822],"wherenext-category":[],"industry":[],"class_list":["post-405212","wherenext","type-wherenext","status-publish","format-standard","hentry","category-a-climate-of-change","category-business-continuity","category-cxo-priorities","department-sustainability-risk"],"acf":{"short_description":"Climate risk continues to rise, and smart business leaders are investing in predictive technology to get ahead of it.","pdf":{"host_remotely":false,"file":"","file_url":""},"flexible_content":[{"acf_fc_layout":"content","content":"The cost of natural disasters in 2020 was nearly twice the previous year's total, jumping to $210 billion from $116 billion, according to a new report<\/a> by global reinsurer Munich Re. Losses hit the US particularly hard, totaling $95 billion, with damage from hurricanes, storms, and wildfires weighing most heavily. Combined with NASA's analysis<\/a> pegging 2020 as the hottest year on record (tied with 2016), the numbers point to accelerating climate risk."},{"acf_fc_layout":"sidebar","layout":"standard","image_reference":null,"image_reference_figure":"","spotlight_image":null,"section_title":"","spotlight_name":"","position":"Left","content":"Article snapshot:<\/strong> The cost of natural disasters nearly doubled in 2020, catching many companies off guard. Those that had already incorporated predictive analysis of climate risk<\/a> into their planning were better prepared and quicker to rebound.","snippet":""},{"acf_fc_layout":"content","content":"The losses don't just affect insurers like Munich Re; they also impact businesses and people. Most corporate directors already see climate risk affecting their organizations<\/a>, according to a recent executive survey from Columbia Law School. The survey highlights multiple motivations for directors to prioritize climate risk in business strategies\u2014from managing cost to practicing corporate responsibility to identifying new business opportunities.\r\n\r\nCompanies worldwide are using technologies such as location intelligence<\/a> and AI<\/a> to predict potential climate risk and inform long-term planning. They're also moving toward real-time situational awareness<\/a> to become more resilient when responding to natural disasters and other business disruptions.\r\n