Global Corporate Survey 2023: Climate Risk Solutions Buyers’ Priorities And Preferences

Table of contents

Global survey reveals corporate priorities regarding climate risk
Firms expect transition risks to be more costly than physical risks over the next three years
Each industry’s assets, experiences and market forces explain transition risks
Expected losses from physical risks correlate with recent regional experiences
Limited expertise and knowledge are challenges for firms
Opportunities for climate risk software vendors
One in four buyers will increase spend on climate risk software by more than 10% in 2023 and 2024

Table of figures

Figure 1. Survey respondents come from 15 industries
Figure 2. Map of survey respondent locations
Figure 3. Climate risks included in the survey
Figure 4. Firms expect greater losses from transition risks than from physical risks
Figure 5. Transition risks expected to cause more than $100 million in losses within each industry
Figure 6. Transition risks expected to cause more than $50 million in losses within each industry
Figure 7. Regional concern for physical risks reflects historical and projected impacts
Figure 8. Firms lack internal expertise and do not know how to map climate data to business impacts
Figure 9. For each risk, between one sixth and one quarter of respondents do not know the financial impacts
Figure 10. Over one quarter of respondents will increase spending on climate risk software or invest for the first time
Figure 11. One in three firms use internally developed software for each use case assessed
Figure 12. Firms are interested in software for climate scenario modelling, portfolio and investment planning tools, and TCFD reporting capabilities