Exploring how physical climate storylines and narratives impact private stakeholder behaviour

The private sector and industry are increasingly accessing physical climate data to a) identify and disclose climate risk as required by regulations and b) seek to estimate and limit both present and future economic impacts of physical risk on their business.

Projections of physical climate risk and associated changes in estimates in losses are typically provided to private sector stakeholders in isolation from the wider social and systemic picture. Whilst individual private sector stakeholders can take some measures to minimise impacts from climate hazards, a collective approach in conjunction with local communities and the public sector may be more effective, in terms of both risk reduction, and upfront cost.

We provide physical climate storylines and narratives as a complement to the typical physical risk data provided to private stakeholders. We work with many private stakeholders and are seeking interdisciplinary discussion and collaboration with a view to exploring and quantifying the cost- benefit of individual stakeholder action versus collective action.