A global pandemic and the resulting economic damage had been forecasted over a decade before 2020, but companies ignored the warnings. Much in the same way, climate risk will lead to large scale economic downturn unless companies prepare their businesses to respond proactively.
Significant steps must be made by risk professionals to both better understand and better communicate the risks their companies and clients face, otherwise the same negative outcomes will repeat themselves.
https://www.barrons.com/articles/ignoring-climate-change-risks-market-chaos-51591231460
