The financial Community needs evolved tools for assessing environmental risks and their impact on economic systems.

In 2021 in the United States there were 20 different climatic disasters linked to weather conditions.

Each of them has caused damage of over $1 billion and 2022 is following the same trajectory. Suffice it to say that only the drought in California cost 2 billion dollars and over 14,000 jobs.

In the last 40 years, extreme weather events also associated with climate change – storms, heat waves and floods – have devastated Europe leaving a heavy budget. The death toll, in particular, ranges from 85 to 145.000. According to the latest report by the European Environment Agency (EEA), the damage is estimated at around EUR 500 billion.

These facts show us that it is not enough to invest and operate in the reduction of climate impacts through the goals of net zero; waiting for the restoration of environmental conditions and life acceptable for future generations, It goes without saying that the risks present, potential damage and contingency plans must be defined, as well as adapting existing infrastructures and planning new ones.

Widech SpA is committed to promoting the application of integrated technologies for monitoring the environment, climate and the impact of economic and social activities to achieve the ability to predict extreme climate phenomena and their potential effects.

We believe that we must invest in the green data economy, in the spread of the Internet of Everything to create the necessary knowledge through green big data to predict and govern the impacts of environmental risks.

The goal is to integrate analysis and management of the same in the daily decisions of policymakers and stakeholders so that they can improve adaptation to climate change and disaster risk reduction measures to minimize damage and loss of lives.

Finally, the extension of insurance coverage is equally important as it helps increase the ability of companies to recover from disasters, reduce vulnerability and promote resilience.

Risk management through financial instruments is a further stimulus to the emergence and spread of the green data economy and the government of information-based environmental phenomena.