The Importance of Pricing Risks

Hear from Rohan Hamden, Co-Founder and CEO of XDI, as we examine how climate-related impacts are exceeding our models and why the need for adaptation has never been greater.

Despite our best efforts to measure and model the physical risks from climate change, the impacts continue to outpace our expectations. Consequently, we are left dangerously unprepared for extreme weather events both now and in the future. This highlights the critical need for robust adaptation measures, as we move into decades of unprecedented physical risk. The recent wildfires in California and flooding in Europe serve as stark reminders of the risks that extreme events pose.

Although governments and financial institutions are gradually getting to grips with these issues, we’re still on the back-foot in the race against climate change, and swift action is needed to regain control over our transition to a resilient, net-zero society. That’s why in today’s episode, we’ll explore some of the major gaps in our global response to climate change, including:

• Why the physical risks from climate change continue to exceed our predictions;
• How adaptation planning is being undermined by conservative risk modelling and short-term thinking; and
• The dangers of normalizing extreme weather events, which are becoming all too frequent.

To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr

For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate

If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com Links from today’s discussion:

• XDI Homepage - https://xdi.systems/
• XDI Article: Uninsurable Future - https://xdi.systems/uninsurable-future/
• Intergovernmental Panel on Climate Change (IPCC) AR6 Synthesis Report – https://www.ipcc.ch/report/sixth-assessment-report-cycle/
• Tim Lenton on the GARP Climate Risk Podcast - https://www.garp.org/podcast/complexities-climate-risks-cr-201102
• Julie Pullen on the GARP Climate Risk Podcast - https://www.garp.org/podcast/ocean-climate-finances-cr-220505

Rohan Hamden, Co-Founder and CEO of XDI: Cross Dependency Initiative

XDI, the Cross Dependency Initiative, is an international data and analytics organisation specialising in the modelling and analysis of asset level physical climate risk. In 2017, Rohan co-founded XDI with a vision of mainstreaming climate information into infrastructure and financial decision making.

Rohan began his career as a fire fighter before working in the Australian government for nearly 15 years. During that time Rohan held a number of sustainability and climate related roles, culminating in the directorship of the Climate Adaptation Program for South Australia, where he designed and led the implementation of the State’s multi-award-winning climate change adaptation program. Rohan has advised various state and national governments on their climate adaptation programs in Australia, Canada, the US and the UK.