Climate-related risks to supply chains are on the rise, according to a new white paper by insurance and risk management services firm TT Club.
The publication says ports, terminals and logistics operations are significantly impacted by hazards arising from climate change. With nine out of 10 major ports now affected, and around 80-90 per cent of worldwide trade passing through ports, there are clear effects on international supply chains, operational models and the global economy.
The white paper also details risks caused to logistics by geopolitical factors, and provides a practical framework for businesses to understand climate risks and plan adaptive responses, with the aim of improving resilience.
The report can be downloaded [here]. TT_Club_Climate ready_Supply_Chain_whitepaper_DIGITAL.pdf