Climate risks could impair long-term viability of world’s key waterways
London, 10 November, 2022 – According to a new paper published today by Marsh, the world’s leading insurance broker and risk advisor, the future of some of the world’s most important shipping lanes – including the Suez and Panama Canals and other sea-facing port and terminal infrastructure – could be impaired from risks associated with climate change. According to Marsh, this could have implications for regional economies, global food security, and supply chains in the medium and long term.
Marsh’s paper, High seas: Enabling a climate resilient Suez Canal, which includes modelling data provided by XDI (the Cross Dependency Initiative, a leading physical climate risk analysis provider), examines how physical climate change-related risk is impacting key waterways, with the Suez Canal as a case study, and outlines methods to build resilience at a local level.
The full paper is available for download on the Marsh website HERE
Marsh is the world’s leading insurance broker and risk advisor. With over 45,000 colleagues operating in 130 countries, Marsh serves commercial and individual clients with data-driven risk solutions and advisory services. Marsh is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people. With annual revenue nearly $20 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman.