In this episode of Construction Blueprints our experts discuss the impact of climate change on the construction industry.
Our Climate Practice leaders focus on the most significant climate-related risks for construction projects and provide useful perspective on what construction companies can do to incorporate climate change considerations into their long-term planning.
In this episode, you can also expect to hear helpful insight into the level of preparation required to meet stricter environmental regulations in a constantly evolving landscape.
The impact of climate-related risks on construction
Transcript for this episode:
Construction Blueprints Season 2, Episode 6: The impact of climate-related risks on construction
HOLLY TEAL: Climate change impacts the construction industry in several ways. So first, I think what comes to mind for everyone, and what we're going to focus on really today is the increasing frequency and severity of extreme weather that impacts construction projects directly through losses to the construction site from, say, a storm, a flood, a fire. It causes delays from supply chain disruptions, so if you're not getting your supplies on time. And then, of course, you have employees that work at the site.
Podcast host
Seth Young
Senior Account Executive, Construction Practice
Seth has 12 years of construction-related insurance industry experience working with contractors, owners and developers. His core expertise includes heavy-highway and civil-related risks, with additional experience surrounding commercial and mechanical construction. Seth holds the Certified Property and Casualty Underwriters (CPCU), Associate in Risk Management (ARM") and Associate in Fidelity and Surety Bonding (AFSB®) designations, and was a founding member of the WTW Emerging Construction Professionals group.
Podcast guests
Holly Teal
Climate Practice Leader, North America
Holly has 27 years of experience helping organizations develop and implement innovative solutions to their business challenges. As leader of WTW's Climate Practice in NA, she and her team help clients identify, quantify and manage physical and transition climate risks, supporting risk management, resilience planning, business and investment strategy, and reporting and disclosure. Additionally, Holly serves as a Lead Relationship Manager for global clients, working to understand their key issues and partnering with WTW consultants to deliver integrated solutions and services across the areas of People, Capital and Risk. Holly is also an advisor on the National Association of Corporate Directors (NACD) Climate Advisory Council.
Ryan Redican
Senior Associate, Climate Practice
Ryan has more than 10 years consulting experience spanning physical climate risk assessment, natural catastrophe risk engineering, engineering design and implementation, and construction administration. He uses his strong engineering background and experiences to deliver risk engineering projects in sectors such as energy, transportation, aviation, general manufacturing, construction, higher education, semiconductor manufacturing, defence, and high challenge occupancies.
Ryan is a senior associate in WTW's Climate Practice focused on supporting our corporate clients to understand and quantify physical climate, natural catastrophe, and man-made risk exposures to their business and ways to mitigate risk including catastrophe modelling, probable maximum loss and business interruption quantification, supply chain contingent business interruption quantification, risk engineering assessments, and physical climate analysis.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.