Significant shifts in extreme weather events are already underway and have caused unprecedented natural disasters. The severity and frequency of these events will increase in the future.
As a result of climate change, both public and private enterprise is at risk with physical assets such as civil infrastructure, commercial buildings and private homes becoming physically and financially unsustainable and uninsurable. There is also emerging acknowledgement that service delivery and business continuity are also likely casualties of climate change impacts.
Owners of physical assets will have to either demonstrate how they will adapt or be faced with insurmountable costs that will leave many without access to insurance, finance or the ability to renew existing assets at the end of life.
In the near future finance and insurance companies will no longer insure or finance assets such as private homes, commercial buildings and infrastructure that pose an unacceptable risk from climate change now and in the future. This will be driven by insurance premiums exceeding the capacity for consumers to pay.
The need for business, governments and community groups to create adaptation strategies to manage these impacts of climate change is rapidly emerging. To be ready, these risks must be faced head on.
There is an urgent need for integrated plans and strategies seeking to adapt and mitigate these risks leading to new fields of Climate Change Risk Assessment and Climate Change Adaptation.
Partnered with XDI Pty Ltd, Direct Future Consulting is perfectly placed to become an industry leader in the emerging fields of Climate Change Risk Assessment and Climate Change Adaptation. Utilising the XDI Platform as an authorised reseller, Direct Future Consulting can guide businesses, governments and community groups to identify and assess climate change risk and develop bespoke climate change adaption strategies and action plans.