NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Globally, 2020 was one of the warmest years on record. Global concentrations of carbon dioxide (CO2) and methane (CH4) also continued to increase. The data also show that atmospheric concentrations of greenhouse gases for 2020 were at their highest global annual average in the Copernicus Atmosphere Monitoring Service (CAMS) satellite record since 2003.

Analysing the interplay of variables like temperature, sea ice, precipitation, river discharge or soil moisture underlines the importance of monitoring all parts of our climate system. This helps us understand changing climate trends, with traceability back to the original data.

Now, it is more important than ever that we use the available information to act, mitigate and adapt to climate change. The Copernicus Climate Change Service (C3S) provides key information that can help accelerate our efforts to reduce future risks. Collecting and processing the right data can help create high quality information that can lead to informed decision-making.

However, a joint effort is needed that requires the full mobilization of society, governments and industries. These sectors need the best available information on the forthcoming impacts of climate change.

Some of the key questions addressed will include: 

• What tools and data do you need to analyse and quantify climate risk?
• Where can firms access quality “decision-relevant” climate data and where are the data gaps?
• What data sources should you consider and how can these be built into an organisation’s decision architecture?
• With the Green Deal aiming at embedding climate neutrality in government policies – how can you turn climate change into an economic opportunity? And what can institutions expect from the shift from voluntary to mandatory climate reporting?
• How can insurance companies understand long-term climate severity trends to make better informed underwriting, pricing, and investment decisions?