Climate change and environmental degradation constitute a growing threat to the stability of societal and economical systems. The observed and anticipated increase in the frequency and intensity of extreme weather events under future emission scenarios, combined with the projected long-term shifts in climate patterns are already leading to significant economic damages on a local to global scale with repercussions in insurance and finance sectors.

To mitigate systemic risks from extreme weather events an improved model representation of extreme weather and climate hazards at impact relevant scales and a better understanding of their often compounding ways they cause impacts is urgently needed. In recognition of this challenge climate risk assessments for the financial and insurance sectors have experienced amplified attention in both the academic and private spheres.

This session aims at providing a platform for actors from academia and the private sector to exchange information on strategies for assessing climate risk, and is organised under three main pillars:

-Physical Climate Risks: Trends, Processes and Modelling
-Identifying and Managing Climate Risks
-Quantifying Damages and Impacts from Climate Risks

We encourage submissions on a wide range of topics including innovative climate risk modeling and model evaluation, damage functions, integrated assessment modelling, bias adjustment and downscaling methods, climate emulators, climate hazard indicators and their projections for specific sectors (e.g. food, energy, insurance, real estate, supply chains), impact data collection and categorization.