Marsh talks the talk when it comes to climate risk, but by working with Adani it is walking us all into a dangerous future
The conservative International Energy Agency in May warned against governments developing Covid-19 recovery plans that back fossil fuels for fear they’d expose nations to “escalating financial, health and social risks”. The thinking is sound.
Unfortunately, governments seem incapable of learning from past catastrophes, or thinking long term and strategically to prepare better for those to come. Covid-19 is very much a dress rehearsal for what awaits us with climate if governments continue to ignore the science, and the policy demands for an effective response.
Last summer’s devastating bushfires proved Australians are highly vulnerable to the impacts of climate change. So too are our insurers. As of 23 January the Insurance Council of Australia had tallied 20,000 bushfire-related claims, with insured losses estimated at A$1.65bn.