Many insurers think they have climate casualty risk managed by virtue of avoiding writing the oil and gas industry or with limitations on their policies.Executive SummaryThe oil and gas industry may be an obvious target for climate change litigation, but it’s not the only large industrial target. Production of meat accounts for up to 20 percent of global emissions.
Climate casualty risk is broader than this view indicates, with the primary and secondary effects of climate change creating risks across most sectors of the economy. The importance of this fact is made more salient because the latest reports from the International Panel on Climate Change make clear that we are quickly approaching a point of no return and that, even if we meet the targets established in the Paris Climate Accords, our world may look vastly different than it does today.