Climate Extremes pose significant risks to the global and Australian economy and are an increasing concern for the finance, reinsurance, and insurance sectors. Having robust knowledge on how climate extremes will change at relevant spatial scales allows businesses and government departments to make better decisions. Currently, gaps exist between the variety of ways scientists produce estimates of future extremes, and the information required by business to conduct risk assessment and decision making. The ARC Centre of Excellence for Climate Extremes is in on-going discussions with multiple elements of the finance sector to help close this gap. Recent engagement activities have included briefings to the finance sector on assessing climate risk and on the use and misuse of climate models and how misunderstanding climate data can lead to perverse outcomes and missed opportunities.

Find out more about the Knowledge Brokerage Team at the ARC Centre of Excellence for Climate Extremes and how we can help you.