Climate change is a significant threat to the aviation industry, impacting operational resilience, financial performance and stakeholder trust.
Momentum in the aviation industry is moving towards increased transparency and more ambitious climate targets. As an industry with high fixed costs and volatile profitability, it is more important than ever that aviation companies have a keen understanding of the short to long-term financial implications of their climate risk.
Increasingly, aviation risk managers are being asked to develop robust climate risk strategies which meet the challenges of a rapidly changing operating environment.
Clearly defining, evaluating and managing environmental, social and governance (ESG) is also now a priority for aviation organizations seeking to position their businesses for long-term success. This is about connecting ESG, climate and sustainability efforts to your organization’s purpose and business priorities and reflecting a commitment to managing ESG risk in your people, risk and capital strategies and tactics.
Aviation insurance solutions for climate risk management
Your climate risks are driven by a complex, international regulatory landscape with investors, customers, employees, legislators and regulators all demanding climate disclosures and commitments.
WTW’s Global Aviation & Space specialists, calling on powerful analytical tools and capabilities, are committed to clarifying the climate risk priorities for the global aviation sector. We are focused on helping your business reveal the potential openings in the transition to a low carbon economy while keeping ahead of emerging risks through industry research.
Climate data analytics for aviation
With the right data analytics, your aviation business can seize the opportunities presented by the climate transition.
Together with our range of integrated consultancy services, WTW’s risk and insurance analytics help you to outsmart uncertainties and define your climate priorities. We do this by combining a deep understanding of aviation sector-specific needs with our data-driven, holistic analysis of climate risks.
Climate QuantifiedTM Aviation
Climate QuantifiedTM Aviation helps you look beyond the typical climate risks to your business. It looks at the double materiality of the transition to net zero, harnessing WTW’s comprehensive suite of solutions across people, risk and capital to help you analyze, understand, report and respond to physical, transition and liability risks.
Climate QuantifiedTM Aviation helps you identify, quantify and mitigate the range of climate risks:
Physical risks
The immediate risks arising from acute weather-related events and a longer-term, slower onset of chronic climatic changes.
Transition risks
The risks arising from the transition to a lower-carbon economy.
Climate QuantifiedTM Aviation brings together our deep weather and climate analytical experience, our extensive academic research and institutional investor relationships, and our multidisciplinary team of risk and capital expertise into a fully integrated service offering.
Aviation insurance solutions for climate risk
As expert managers of risk and volatility, the insurance industry is in a unique position to help push forward change. Managing climate risk can be achieved through risk controls, risk financing and insurance and therefore we partner with the insurance industry to develop solutions to these new emerging risks and technologies.
Whether it be through developing a holistic, enterprise level strategy, executing tactical ESG-related insurance programs, or helping to connect sustainability goals to talent objectives, WTW can help with services and solutions that foster operational excellence and long-term sustainability.
Helping you take off into a resilient future
