Climate events are a key risk to watch in 2023

Healix Risk Outlook 2023

Risk Outlook 2023

Untold impact on businesses as once-in-century climate events now happen yearly

Healix has today released its annual Risk Outlook report for 2023, revealing that ‘once in a century’ natural disasters now occur yearly due to the global impact of climate change.

Unsurprisingly, this shift will pose a major threat to businesses in 2023. Extreme weather conditions and climate-related disasters can cause untold disruption, both operationally and in terms of protecting personnel.

This annual report, which outlines and analyses the key risks and challenges facing businesses for the upcoming year, shows that modern storm systems, intensified by climate change, will continue to have catastrophic consequences for personnel and organisations across the globe.

Rising sea levels and warmer temperatures have already increased the rate of rainfall during hurricanes, heightening and strengthening their impact. The duration and frequency of wildfires and drought has also increased, exacerbating water and food shortages. In Australia, for example, the bushfire season has increased by an average of 27 days in just 40 years.

As these natural disasters increase in frequency and intensity, Healix is calling on businesses to carry out urgent climate risk assessments to gauge their degree of exposure to natural disasters and associated operational challenges, as well as implement suitable mitigation and safety procedures.

Chris Job, Director of Risk Management Services at Healix International, comments:

“Most businesses understand that climate change is a pressing global issue, but it’s vital to consider the material implications that a natural disaster would have on the day-to-day running and security of their company. Not only will it drastically impact a company’s ability to do business, but it will also put their employees at risk, both at home and abroad. With once in a century natural disasters now becoming a yearly occurrence, putting a mitigation strategy in place is vital.

By implementing the necessary measures and introducing enhanced safety procedures, companies will be better positioned to protect people, assets and operations in the event they are caught up in a natural disaster. As with most things, taking steps to protect against these risks now will deliver a far better outcome than trying to react and solve them at the time.”

Click here for full access to the Healix Risk Outlook 2023 report, to read more on business disruption as a result of the climate crisis and other key risks to watch.

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