The occurrence of extreme weather events has increased more than four times over the last 40 years, and the energy sector — with its infrastructure of interconnected systems — is particularly vulnerable.
As the frequency and severity of extreme weather events increase, the strain on energy supply and demand, production, revenue streams and overall system efficacy becomes more and more substantial. To adapt and protect global energy assets requires a rapid and significant investment, which will only be possible via cooperation and coordination between the public and private sectors.
This report, prepared by the World Energy Council in partnership with Marsh & McLennan Companies and Swiss Re Corporate Solutions, highlights the crisis that the global economy will soon face if energy systems are not transformed to handle extreme weather events.
