Welcome to another week of Shaken Not Burned! 

Extreme weather is here. Supply chains are vulnerable. Insurance costs are rising. And whether or not governments pull funding for climate science or roll back disclosure rules, businesses, economies, and insurers still have to grapple with the very real impacts. Insurers can’t afford to ignore mounting losses, and companies can’t afford to ignore their exposure. Risk still needs to be priced, especially in a world where the costs are only going up.

In our latest episode, host Felicia Jackson sits down with Tom Sabbatelli-Goodyer, VP of climate risk at FIS, to unpack one of the biggest threats to modern business: climate risk.

Recorded before the latest wave of political shifts – including the US election, the roiling tariff trauma and pushback on climate and ESG, as well as the EU’s delay on CSRD – the conversation feels more relevant than ever. While regulation may stall, and ESG becomes a political football, the physical reality underpinning climate risk remains unchanged.

Tom and Felicia explore what climate risk really means today – from acute shocks such as floods and wildfires, to chronic pressures like sea-level rise and declining productivity. They break down how businesses can move from awareness to action, with smarter scenario planning, better data, and tools designed to make resilience a strategic advantage, not just a compliance box.

This is not just another climate conversation. It’s a wake-up call for decision-makers navigating a world where climate is no longer a future problem – it’s a financial one happening now.

To address climate risk effectively, businesses and governments must move beyond acknowledgment to active management. This means measuring exposure with better data and forward-looking models, embedding climate risk into core financial and strategic decisions, and investing in physical and financial resilience. Transparency through robust disclosure should drive internal change, not just meet compliance requirements.

Companies must also collaborate across sectors, advocate for smart, science-based policies, and view climate resilience as a source of competitive advantage rather than a cost. Ultimately, climate risk needs to be treated like any other critical business risk –urgent, measurable, and central to strategy – because it is no longer a future threat; it is a present financial reality.

Reading materials:

• Climate risk is not about politics, its about economics

• What is climate risk and what does it mean for your organisation?

• EU Climate change impacts, risks and adaptation

• Climate risk and insurance

• UNEP FI Climate risk reports

• Billion dollar weather and climate disasters

• WEF Global Risks Report 2025

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