Climate Risk and Response: Physical Hazards and Socioeconomic Impacts provides data and reasoning for why communities will need to put in place the right tools, analytics, processes, and governance to properly assess climate risk, adapt to risk that is locked in, and decarbonize to reduce the further buildup of risk.

This report links climate models with economic projections to examine nine cases that illustrate exposure to climate change extremes and proximity to physical thresholds. A separate geospatial assessment examines six indicators to assess potential socioeconomic impact in 105 countries. It also provides decision makers with a new framework and methodology to estimate risks in their own specific context.

The report explains seven risks of physical climate change that stand out: It is increasing; it is spatial, non-stationary, nonlinear, and its effects are systemic, regressive, and companies and communities need to be more prepared for the effects of climate change. The report draws attention to how climate change is already having significant physical impacts in regions across the world. The report includes graphs showing hows temperatures across the globe will change, and projections for precipitation as well.

The report shows how socioeconomic impacts will likely be nonlinear and have knock-on effects. Case studies in the report focus on major geographies and sectors across the globe and how they will be affected by climate chage in terms of livability and workability, food systems, physical assets, infrastructure services, and natural capital.

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