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Marsh McLennan Releases the Climate Action Navigator from the Oliver Wyman Forum
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Part of an enterprise-wide effort to help clients halve emissions by 2030
NEW YORK--(BUSINESS WIRE)--
Today, Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, unveiled the Climate Action Navigator from the Oliver Wyman Forum. The navigator helps senior leaders explore the actions they need to take to enable us to halve emissions by 2030, keeping a 1.5 degrees temperature rise in reach.
The Climate Action Navigator helps public and private sector leaders plot a path through climate science. It identifies emissions levels for 22 industry sectors in 12 global regions and quantifies the effects of different carbon-reduction strategies.
The Climate Action Library brings together, for the first time, an assessment of the impact of multiple different mitigation actions, including changes in energy and fuel usage, in building construction and heating, in industrial processes and transportation, in land use and food efficiency, and in negative emission technologies. The effect of each mitigation strategy can be analyzed for each sector and region, giving business and government leaders vital insights to realize their 2030 climate goals.
“Marsh McLennan aims to be a significant enabler of low-carbon, climate resilient investment in the corporate sector,” said Nick Studer, CEO of Oliver Wyman and Vice Chair of Marsh McLennan. “We’re developing industry-leading data and analytics like the Climate Action Navigator to bring together the public and private sector to solve real problems. The Navigator will help our clients understand the speed of change needed, assess options and develop resilient strategies for the future.”
The Climate Action Navigator is part of efforts across Marsh McLennan’s four businesses, under the stewardship of Mr. Studer, to help clients embed climate planning into their decision making about risk, strategy and people.
Risk
Marsh McLennan through its Marsh and Guy Carpenter businesses, advises companies and governments on climate risk and the low-carbon transition. It helps clients understand and quantify climate risk, and works with corporate and public sector clients to manage capital, volatility and growth while navigating climate-related global regulatory stress tests and disclosure requirements. It supports clean energy developers through a globally integrated renewable energy business, and helps traditional energy producers transition to clean energy production.
The Company also provides catastrophe modelling, advisory and reinsurance services to the largest insurance and disaster risk programs in the world, including the U.S. National Flood Insurance Program and Flood Re in the UK, to help reduce the economic impact of climate related losses and enable investment in more sustainable communities. It is committed to creating new, innovative products, dynamic risk modelling tools that incorporate climate change scenarios, and establishing new capital models to accelerate the transition to a low-carbon future.
Strategy
Oliver Wyman works with clients to develop transition strategies in all sectors of the economy, especially the high-impact transitions in financial services, energy and power, transport, manufacturing and heavy industry. Mercer, a pioneer in sustainable investment, helps asset owners identify and manage climate risks in investment portfolios through research and advice frameworks, along with tools and solutions that can support implementation. Mercer believes embedding sustainability in investment beliefs, policy, process and portfolios can help improve client outcomes.
People
Mercer also helps clients navigate culture and workforce transformation. This includes advising organizations on ways to integrate sustainability and shared purpose more fully into workforce cultures in the face of the low-carbon transition. Mercer’s People Sustainability Index advises institutions on where they stand against others in the market and helps clients build a strategic plan and culture to help companies reach their goals in achieving a healthy, resilient and equitable future.
Climate Commitments
Marsh McLennan is committed to sustainability. In 2020, the Company signed on to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and released its first TCFD-aligned report in 2021. It is also a certified CarbonNeutral® company as of September 1, 2021 in accordance with The CarbonNeutral Protocol, and has pledged to reduce its carbon emissions by 15% below 2019 levels by the year 2025.
Its businesses have worked with organizations including CDP, the World Economic Forum, United Nations Environment Programme Finance Initiative and The Nature Conservancy, to set new agendas and build consensus on the issue of climate change. Most recently, Oliver Wyman and the Climate Group outlined a blueprint for a commercially-smart climate transition, distilling insights from some of the world’s most experienced corporate climate action leaders on how they turn climate commitments into tangible outcomes.
More information about how Marsh McLennan is bringing together its businesses and capabilities to help its clients anticipate climate risks and opportunities is available here.
About Marsh McLennan
Marsh McLennan (NYSE: MMC) is the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s 78,000 colleagues advise clients in 130 countries. With annual revenue over $18 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses. Marsh provides data-driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. Mercer delivers advice and technology-driven solutions that help organizations redefine the world of work, reshape retirement and investment outcomes, and unlock health and wellbeing for a changing workforce. Oliver Wyman serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit mmc.com, follow us on LinkedIn and Twitter or subscribe to BRINK.
Oliver Wyman Forum
The Oliver Wyman Forum is committed to bringing together leaders in business, public policy, social enterprises, and academia to help solve the world’s toughest problems. The Oliver Wyman Forum strives to discover and develop innovative solutions by conducting research, convening leading thinkers, analyzing options, and inspiring action on three fronts: Reframing Industry, Business in Society, and Global Economic and Political Change. Together with our growing and diverse community of experts, we think we can make a difference. For more information, visit www.oliverwymanforum.com.
