We are now into winter and, after a long period of drought in Attica, we have finally seen some rain. Unfortunately, other parts of Greece have experienced severe problems with heavy rainfall. These issues, however, do not compare to the extreme flooding seen recently in parts of Spain, where the outcome has been tragic.
It is often noted that there have always been climate fluctuations throughout historical and prehistoric periods. While we do not disagree, the vast majority of scientists assert that the rate of climate change since the mid-20th century is unmatched for millennia.
Studies show that, depending on the level of expertise, between 91% (all scientists) and 100% (climate scientists with 20+ published papers) agree that human activity is driving climate change. Among all climate scientists, 98.7% concur on this point.
Source: NASA Climate Change Evidence
In our Environment news we refer to a publication by Copernicus. "It is now almost certain that 2024 will be the warmest year on record, and the first year in which the annual average global temperature deviation will exceed 1.5°C above pre-industrial levels (1850-1900) for the first time."
This projection from Copernicus carries a significant warning about the trajectory of climate change. If 2024 indeed becomes the warmest year on record, with the global temperature rising more than 1.5°C above pre-industrial levels, it signals that the Earth is approaching thresholds that could lead to more frequent, intense, and prolonged extreme weather events. This increase is not just a temperature statistic; it has real-world implications that ripple across every aspect of life, affecting the environment, society, and the economy.
For businesses and industries, these climate impacts can lead to damaged infrastructure and disrupted supply chains. Extreme events like floods, storms, and heatwaves make transportation and logistics more challenging, delay production, and create risks for physical assets. In agriculture, tourism, and fisheries, such disruptions directly affect workers, reducing income and destabilizing local economies dependent on these sectors.
Moreover, the cumulative impacts of these events put immense strain on both natural and human systems. They highlight the urgent need for adaptation and resilience strategies—approaches that help communities, businesses, and ecosystems better withstand and recover from climate impacts. Proactive planning in areas like disaster preparedness, sustainable infrastructure, and diversified economic strategies can help mitigate future losses, but the scale of action required is unprecedented. The data emphasizes a pressing need for not just awareness but for transformative action to safeguard environmental, social, and economic stability in the years ahead.
We therefore assess whether insurance coverage alone is sufficient to ensure resilience for businesses, industries, and sectors like tourism and agriculture. Our conclusion is clear: insurance companies are neither willing nor equipped to fully shoulder the impacts of climate change. Even the most comprehensive insurance solutions can not cover all consequences of these escalating climate risks. Instead, proactive prevention and targeted mitigation strategies are essential for building true resilience.
This brings us to our participation as sponsors and exhibitors at the FERMA Forum, the largest conference on enterprise risk management, with over 3,000 delegates from Europe and across the globe, including the USA, Canada, Australia, Latin America, Asia, and Africa. Our experience at the Forum solidified a critical takeaway: our innovative RISK CLIMA application platform is leading globally in the forecasting and management of natural and climate-related risks.
RISK CLIMA provides a robust solution by delivering not only advanced predictions based on reliable models and databases but also long-term risk projections by specific locations. Extending through 2050, the platform incorporates various RCP (Representative Concentration Pathway) emission scenarios, covering a comprehensive array of risks, both natural and man-made, that are relevant to climate change impacts. This makes RISK CLIMA an indispensable tool for organizations looking to proactively manage and mitigate the risks associated with an evolving climate landscape.
Finally, addressing an issue that concerns many small businesses in the Greek market, we recommend the issuance of digital Shipping Documents at minimal cost through our Software as a Service (SaaS) platform, E-ON RIX. Joining this platform not only provides an affordable solution for managing delivery documentation but also keeps the door open for a seamless transition to Electronic Invoicing whenever a business chooses or is required to make the switch.
We hope you find our new articles interesting. As always the people of E-ON INTEGRATION are at your side to help you with platforms based on innovative technologies and consulting services.
