WTW and Cornell University partner to predict drought and prepare for water scarcity
WTW (NASDAQ: WTW) has announced a strategic scientific partnership with Cornell University to assess and quantify global drought risks. The collaboration aims to develop more accurate drought prediction tools and datasets, focusing on identifying geographical 'hotspots' for climate-amplified drought.
The initiative addresses a critical global challenge, as two-thirds of the world's population experiences water stress seasonally. The research will be led by Prof. Toby Ault at Cornell's Atkinson Center for Sustainability, a leading expert in future drought under climate change. The partnership seeks to overcome current limitations in climate models that often underestimate drought severity, duration, and correlation.
This collaboration will particularly benefit water-dependent sectors such as food and beverage, energy production, and waterborne transport, helping businesses better prepare for water scarcity risks. The research emphasizes the increasing impact of climate change on drought conditions, notably affecting low-income and middle-income countries, particularly in agriculture-dominated regions.
WTW (NASDAQ: WTW) ha annunciato una partnership scientifica strategica con l'Università Cornell per valutare e quantificare i rischi globali di siccità. La collaborazione mira a sviluppare strumenti e dataset di previsione della siccità più accurati, concentrandosi sull'identificazione di 'hotspot' geografici per la siccità amplificata dal clima.
L'iniziativa affronta una sfida globale critica, poiché due terzi della popolazione mondiale sperimenta stress idrico stagionalmente. La ricerca sarà guidata dal Prof. Toby Ault presso il Atkinson Center for Sustainability della Cornell, un esperto di riferimento sulla siccità futura in relazione al cambiamento climatico. La partnership cerca di superare le attuali limitazioni nei modelli climatici che spesso sottovalutano la gravità, la durata e la correlazione della siccità.
Questa collaborazione beneficerà particolarmente i settori dipendenti dall'acqua come alimenti e bevande, produzione energetica e trasporto fluviale, aiutando le imprese a prepararsi meglio ai rischi di scarsità d'acqua. La ricerca sottolinea l'impatto crescente del cambiamento climatico sulle condizioni di siccità, che colpisce in particolare i paesi a basso e medio reddito, soprattutto nelle regioni dominate dall'agricoltura.
WTW (NASDAQ: WTW) ha anunciado una asociación científica estratégica con la Universidad de Cornell para evaluar y cuantificar los riesgos globales de sequía. La colaboración tiene como objetivo desarrollar herramientas y conjuntos de datos de predicción de sequías más precisos, centrándose en la identificación de 'puntos críticos' geográficos para la sequía amplificada por el clima.
La iniciativa aborda un desafío global crítico, ya que dos tercios de la población mundial experimenta estrés hídrico estacionalmente. La investigación será liderada por el Prof. Toby Ault en el Atkinson Center for Sustainability de Cornell, un experto en sequías futuras bajo el cambio climático. La asociación busca superar las limitaciones actuales en los modelos climáticos que a menudo subestiman la gravedad, duración y correlación de la sequía.
Esta colaboración beneficiará particularmente a los sectores dependientes del agua, como alimentos y bebidas, producción de energía y transporte fluvial, ayudando a las empresas a prepararse mejor para los riesgos de escasez de agua. La investigación enfatiza el impacto creciente del cambio climático en las condiciones de sequía, afectando notablemente a los países de bajos y medianos ingresos, especialmente en regiones dominadas por la agricultura.
WTW (NASDAQ: WTW)는 코넬 대학교와 전략적 과학 파트너십을 발표하여 전 세계의 가뭄 위험을 평가하고 정량화합니다. 이 협력은 기후 변화에 의해 증폭된 가뭄을 위한 지리적 '핫스팟'을 식별하는 데 중점을 두고, 더 정확한 가뭄 예측 도구와 데이터 세트를 개발하는 것을 목표로 합니다.
이 이니셔티브는 전 세계적으로 두 번째로 많은 인구가 계절적으로 물 스트레스를 경험하는 중요한 글로벌 도전 과제를 다룹니다. 연구는 코넬의 아킨슨 지속 가능성 센터에서 기후 변화에 따른 미래 가뭄의 전문가인 토비 올트 교수에 의해 주도될 것입니다. 이 파트너십은 종종 가뭄의 심각성, 지속 기간 및 상관 관계를 과소평가하는 현재 기후 모델의 한계를 극복하는 것을 목표로 합니다.
이 협력은 식음료, 에너지 생산 및 수상 운송과 같은 물에 의존하는 부문에 특히 혜택을 줄 것이며, 기업들이 물 부족 위험에 더 잘 대비할 수 있도록 도와줄 것입니다. 연구는 기후 변화가 가뭄 조건에 미치는 영향이 증가하고 있음을 강조하며, 특히 농업 중심 지역의 저소득 및 중간 소득 국가에 큰 영향을 미치고 있습니다.
WTW (NASDAQ: WTW) a annoncé un partenariat scientifique stratégique avec l'Université Cornell pour évaluer et quantifier les risques de sécheresse à l'échelle mondiale. La collaboration vise à développer des outils et des ensembles de données de prévision de sécheresse plus précis, en se concentrant sur l'identification des 'zones chaudes' géographiques pour la sécheresse amplifiée par le climat.
Cette initiative répond à un défi mondial crucial, car deux tiers de la population mondiale subit un stress hydrique saisonnier. La recherche sera dirigée par le Prof. Toby Ault au Atkinson Center for Sustainability de Cornell, un expert de renom sur les sécheresses futures liées au changement climatique. Le partenariat vise à surmonter les limitations actuelles des modèles climatiques qui sous-estiment souvent la gravité, la durée et la corrélation des sécheresses.
Cette collaboration profitera particulièrement aux secteurs dépendants de l'eau tels que l'alimentation et les boissons, la production d'énergie et le transport fluvial, aidant les entreprises à mieux se préparer aux risques de pénurie d'eau. La recherche souligne l'impact croissant du changement climatique sur les conditions de sécheresse, touchant notamment les pays à faible et moyen revenu, en particulier dans les régions dominées par l'agriculture.
WTW (NASDAQ: WTW) hat eine strategische wissenschaftliche Partnerschaft mit der Cornell University angekündigt, um globale Dürre-Risiken zu bewerten und zu quantifizieren. Die Zusammenarbeit zielt darauf ab, genauere Werkzeuge und Datensätze zur Dürrevorhersage zu entwickeln, wobei der Schwerpunkt auf der Identifizierung geografischer 'Hotspots' für klimabedingte Dürre liegt.
Die Initiative adressiert eine kritische globale Herausforderung, da zwei Drittel der Weltbevölkerung saisonal unter Wasserstress leiden. Die Forschung wird von Prof. Toby Ault am Atkinson Center for Sustainability der Cornell University geleitet, einem führenden Experten für zukünftige Dürre unter dem Klimawandel. Die Partnerschaft zielt darauf ab, die aktuellen Einschränkungen in den Klimamodellen zu überwinden, die oft die Schwere, Dauer und Korrelation von Dürreereignissen unterschätzen.
Diese Zusammenarbeit wird insbesondere wasserabhängigen Sektoren wie Nahrungsmittel und Getränke, Energieproduktion und Binnenschifffahrt zugutekommen, indem sie den Unternehmen hilft, sich besser auf die Risiken von Wasserknappheit vorzubereiten. Die Forschung betont die zunehmenden Auswirkungen des Klimawandels auf die Dürrebedingungen, die insbesondere einkommensschwache und einkommensmittelreiche Länder betreffen, insbesondere in landwirtschaftlich geprägten Regionen.
- Strategic partnership with Cornell University enhances WTW's climate risk assessment capabilities
- Development of new tools and datasets for drought prediction strengthens WTW's service offerings
- Expansion into climate risk analysis positions WTW in growing environmental consulting market
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Insights
This strategic partnership between WTW and Cornell University marks a significant advancement in climate risk assessment capabilities, with substantial implications for WTW's market position in the growing climate risk advisory sector. The collaboration addresses a critical gap in current climate modeling - the tendency to underestimate severe drought risks - which has direct implications for risk pricing and assessment across multiple industries.
The initiative's focus on developing more accurate drought prediction tools positions WTW to enhance its risk advisory services in several high-value sectors:
- Agricultural insurance and risk management, where better drought forecasting can improve underwriting accuracy
- Energy sector consulting, particularly for hydroelectric and water-cooling dependent operations
- Supply chain risk assessment for food and beverage companies
- Infrastructure planning for water-dependent industries
From a competitive standpoint, this partnership strengthens WTW's position in the rapidly expanding climate risk advisory market. By combining Cornell's advanced climate science capabilities with WTW's industry expertise, the company is building proprietary risk assessment tools that could create significant barriers to entry for competitors. This is particularly valuable as regulatory requirements for climate risk disclosure continue to expand globally.
The focus on developing regions and water-stressed areas is strategically important, as these markets represent significant growth opportunities in risk advisory services. The ability to better quantify drought risks in these regions could help WTW expand its market share in emerging economies where traditional risk assessment models have been less reliable.
LONDON, Feb. 19, 2025 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, announced today a new scientific partnership with Cornell University to quantify the risks of severe and sustained drought worldwide. This collaboration will provide an in-depth view of global exposure to drought risks and the potential effects of water shortages on business operations.
Around two-thirds of the global population live in places that encounter water stress for at least part of the year. When water supplies are further diminished by drought, many communities experience reduced agricultural yield, energy production, and slower economic growth. The adverse effects of drought are more serious in low-income and middle-income countries and are particularly disruptive to agriculture-dominated areas of the developing world.
Climate change has already increased drought risks in many regions, but unfortunately even the latest generation of climate models still underestimate the potential severity, duration, and correlation of future droughts. Under this new initiative, WTW and Cornell University will collaborate to identify geographical ‘hotspots’ for climate-amplified drought, produce more accurate estimates of drought risk, and create new tools and datasets to anticipate single and multi-year drought. At Cornell, the research is supported by the Atkinson Center for Sustainability and led by Prof. Toby Ault, a leading global expert in future drought under climate change.
Scott St. George, Head of Weather & Climate Research for the WTW Research Network, said, “Water is essential to all industries, so no one can afford to have drought take them by surprise. We know climate change has already supercharged droughts in some places — witness the ongoing drought in the American Southwest, now in its third decade. Prof. Ault and his team at Cornell will provide us with a clear view of the real risk of drought and water scarcity. Those insights are absolutely critical for our clients’ operations and planning in water-dependent sectors such as food and beverage, energy producers, and waterborne transport.”
"We're excited to work with WTW to translate cutting-edge climate science into actionable insights for the insurance industry," said Prof. Toby Ault, Associate Professor in the Department of Earth and Atmospheric Sciences at Cornell University. "Our research has shown that traditional climate models often underestimate the risk of severe, prolonged droughts, particularly in regions already facing water stress. By combining our expertise in drought modeling with WTW's industry knowledge, we can better prepare for the complex drought risks of the future."
About Cornell University
Cornell University is an Ivy League and statutory land-grant research university located in Ithaca, New York. Founded in 1865, Cornell is consistently ranked among the world's leading academic institutions, with strengths in atmospheric sciences, engineering, and environmental research. The university's Department of Earth and Atmospheric Sciences is internationally recognized for its leadership work in climate science, drought research, and applied climatology.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.
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FAQ
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