Global broker, law firm partner to help manage climate risks

Global broker, law firm partner to help manage climate risks | Insurance Business Australia

Environmental

Global broker, law firm partner to help manage climate risks

Partnership will integrate law firm’s climate legal and risk expertise into broker’s climate analytics and consulting offering

Environmental

By
Steven Byerley

Global broker WTW has announced a strategic collaboration with Clyde & Co, a global law firm, to help clients manage climate risks.

Under the partnership, WTW will integrate Clyde & Co’s climate legal and risk expertise into its climate analytics and consulting offering. This collaboration aims to assist clients in effectively managing the impact of physical climate risks and navigating their transition to net-zero.

By joining forces with Clyde & Co, WTW aims to enhance its suite of services by providing organisations with a deeper understanding of climate liability risks and enabling them to capitalise on the opportunities arising from climate change.

“The collaboration will further broaden our relationship with Clyde & Co, developed over a number of years,” said Nadine Coudel, climate liability lead at WTW’s Climate & Resilience Hub. “We will be able to give our clients unprecedented access to regulatory and risk advice in the course of their ESG journeys, pairing WTW’s world-leading consulting expertise and capabilities in delivering climate risk analytics with Clyde & Co’s renowned and globally integrated team of climate liability experts.”

“With regulations tightening in the face of increasingly severe and frequent physical climate risks, there are profound implications for all industries,” said Nigel Brook, partner at Clyde & Co. “The onus on boardrooms to manage the risks presented by climate change is stronger than ever. We are pleased to be able to offer these services as part of WTW’s offering.”

As part of a broader climate risk assessment, the collaboration will provide WTW’s clients across sectors with strategic and legal guidance on climate liability risk exposures. WTW’s Climate & Resilience Hub already offers assessments of physical and transition risks. The collaboration will focus on three key areas: liability analysis to identify current climate liability risks, regulatory planning to navigate evolving climate regulations and disclosures, and contractual review to address high-risk contract hotspots and align them with net-zero goals.

WTW also recently announced the expansion of a program to help safeguard the Mesoamerican Reef.

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