According to Global Risks Report (2016), climate risks increase is amongst the most global concerns, regarding impact and likelihood.
Concerns about climate-risks increase have growth since 2015.
The 2016 Global Risks Report indicates the most relevant climate risks concerns. They are: Water scarcity, ineffective climate change adaptation and vulnerability to extreme events.
Risk impact analyses should be more frequently conducted. They can follow ISO 22301 standard or similar instruments. Businesses could increase their climate resilience through Risk management plans. Those risk plans will help to increase climate resilience, despite of the eventual rise in climate variability.
Insurance companies have pointed out climate risks increase and associated losses.
According to a report from Munich Re, the number of meteorological and hydrological events has significantly increased since 1980. However, geological and climatological events remain in the same number.
The World Bank points the absolute need to integrate climate risk management into development strategies in a 2013 Report. The World Bank report stresses that climate risks equally affect developed and developing countries. The impact could be significant in countries with high GDP growth, due to unreliable investments. However, poor countries usually have little capacity to deal with disasters. These countries will suffer the most severe consequences from climate risks increase.
The World Bank and other international entities will finance such climate risk impact assessments, specially in resource-poor countries.
Some governments started to provide business and institutions with the required support for climate impact assessments.
For instance, the British Meteorological Office (Met Office) has opened a “Framework Center for Impact and Climate Risk Studies” (CIRF). The office has published a document to support climate risk assessments. It provides guidelines and data for climate impact studies .
Climate change and climate variability are related phenomena. Heat waves such as that suffered in Europe in 2003 might be “normal” after 2070. However, it is difficult to associate a particular extreme event with global warming.
Global warming provides more energy to the ocean-earth-atmosphere system and therefore it increases the frequency and intensity of extreme events.