Jessica Schappell, Head of Asia Pacific, Beazley said,“Communities and businesses across Asia are experiencing the devastating and wide-ranging impact of climate risk, yet our data reveals that executives are turning their attentions to the economic uncertainties of the here and now. But as Asia warms up faster than the global average, businesses can’t afford to underestimate the impact of climate and environmental risks
Singapore: In the current economic environment, executives are focusing on the challenges of the here and now, leaving their businesses unprepared and exposed to the intensifying environmental and climate risk.
This is according to the latest Risk & Resilience report: Spotlight on Environmental & Climate Risk 2025, released by Beazley, the leading specialty insurer.
The report details how 3,500 global business leaders perceive the threat posed by climate risk, the energy transition, greenhouse gas emissions and environmental damage to their operations today.
Exposed and Unprepared
The last 12 months have brought home the real, far-reaching and devastating impact of extreme weather events – and businesses are increasingly exposed.
Yet despite the pressing need to protect their business from the growing impact of extreme weather, concerns about the uncertain economic environment are making meeting sustainability targets less of a priority (83%), with only 22% of Singapore-based executives ranking climate and associated catastrophic risk as a top concern. Combined, this paints a concerning picture of businesses being left vulnerable and unprepared.
Powering Progress
As Singapore sets ambitious targets for sustainable development, particularly in relation to the maritime energy transition, over two-thirds (68%) of Asia-based executives believe they are struggling with the transition to non-carbon energy sources. Yet concern around the energy transition risk is falling, with just 17% selecting it as their top environmental risk this year, down from 25% in 2024. ,
Regulatory Jeopardy
The regulatory road for international businesses is complex. With a host of new and stringent regulations set to come into force in some regions, and diverge in others, navigating this landscape will prove difficult.
“But our data indicates that concern around regulatory risk is falling, with 20% of Asia-based executives selecting the failure to comply with new ESG requirements as their top concern this year, down from 21% in 2024.”said Beazley.
Jessica Schappell, Head of Asia Pacific, Beazley said,“Communities and businesses across Asia are experiencing the devastating and wide-ranging impact of climate risk, yet our data reveals that executives are turning their attentions to the economic uncertainties of the here and now. But as Asia warms up faster than the global average, businesses can’t afford to underestimate the impact of climate and environmental risks.