Lloyd's concerns over security implications of Climate Change
Consider how we can use our expertise to assist the developing world to understand and respond to climate change
Lloyd's 360 Risk Insight project published a 'Climate change and security' report (5MB, pdf) on 28 April 2009 which stressed that climate change is likely to threaten countries’ economic and national security, sparking growing tension between states as they compete for increasingly scarce natural resources.
The report illustrates that the developing world and many other regions will see adverse impacts of climate change on food production and water availability. It shows that demographic effects ,such as migration, are a likely consequence and these coupled with energy and natural resource security issues are likely to lead to international tensions.
As with other 360 reports there is a focus on business and the practical actions that can be taken to mitigate and adapt to this risk. These include: driving more efficient use of water into business processes, changing consumption patterns in the developed world, sourcing local produce where possible, taking changing political risks into account in business planning, facilitating large investments into renewable energy, establishing good employment strategies to reduce tension and considering investment in desalination to reduce the need for relocation.
It is hoped by highlighting these issues, Lloyd's will encourage businesses and the insurance industry to consider the wider implications of climate change to the benefit of those in the developing world and elsewhere.
Last updated on 22 May 2009
