The Wharton Risk Management and Decision Processes Center, established in 1985, is a research center affiliated with the Wharton School at the University of Pennsylvania. Engaging students and faculty throughout the University in collaborations, research projects, and other partnerships, the Center is recognized worldwide as a leader in risk-related research and policy analysis. The Risk Center also serves as a bridge between scholars at Penn and organizations and decision-makers in the public and private sectors.
Risk Center Annual Conference
Organized by the Business, Climate, and Environment Lab, the Risk Center hosted a virtual conference on December 3rd, 2021. The day featured panels on the intersection of climate change and the financial system, insurance markets, and housing markets, as well as a discussion of emerging markets for renewable energy finance and carbon credits. Marisa Drew, Chief Sustainability Officer & Global Head Sustainability Strategy, Advisory and Finance at Credit Suisse gave the Keynote Address.
Read more about the panelists and watch recordings on the conference page here.
NSF Civic Innovations Award
We are thrilled to announce that the Policy Incubator has received a Stage 2 Civic Innovations grant from the National Science Foundation (NSF), in partnership with the Department of Homeland Security and the Department of Energy.
Learn more about the launch of this joint inclusive insurance project with the New York City Mayor’s Office of Climate Resiliency (MOCR) and the Center for New York City Neighborhoods (CNYCN) on our project page here.
Digital Dialogue No. 6
The insurance industry plays a critical role in climate adaptation and building climate resilience. It can also, however, play a pivotal role in driving climate abatement. This role can range from their own asset management and underwriting to their support of clean technologies and changes to their own operations.
In the News
Preparing, and paying for, climate change-induced disasters
Penn Today
In the wake of a series of unusual and devastating December tornadoes, Carolyn Kousky tells Penn Today about strategies for resilience and recovery. “The costs and the impact of recovery are often much broader than people anticipate before going through it,” Kousky says. “And recovery takes much longer than people assume it will.”
Beyond Business: Tackling the Climate Crisis. Can Business Lead the Way?
Knowledge@Wharton
On October 20th, Professor Benjamin Keys, and Professor Sarah E. Light, joined Erika James, Dean of the Wharton School for a virtual panel discussion. They spoke about how climate change is reshaping the mortgage and housing industries as well as an action plan for businesses to follow. This event was part of the Wharton School’s Tarnopol Dean’s Lecture Series, Beyond Business, which streamed on Wharton’s LinkedIn page.
The changing climate is driving up home insurance claims, and rates
Marketplace
The more severe storms, fires and floods are, the more people are going to be dealing with damaged roofs and basements. “And that means that consumers need the protection of insurance more than ever,” said Carolyn Kousky at the Wharton Risk Management and Decision Processes Center at the University of Pennsylvania. But the problem is “those same trends are making it more difficult for insurers to offer coverage, or offer it at a price point that people can afford,” she said.
Podcast Mini Series: Innovative Solutions to Flood Risk
America Adapts with Doug Parsons
In a two-part series, Doug Parsons of America Adapts and the Wharton Risk Center invite guests to discuss the challenges of recovering from flood events and offer some solutions for communities to find financial resilience.
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Wharton Risk Management
and Decision Processes Center
St. Leonard’s Court | Suite 217
3819 Chestnut Street
Philadelphia, PA 19104
P: 215-898-5688
F: 215-573-2130