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Opportunity Issue 102

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Opportunity magazine is a niche business-to-business publication that explores various investment opportunities within Southern Africa’s economic sectors. The publication is endorsed by the South African Chamber of Commerce and Industry (SACCI).


CLIMATE CRISIS Losses to weather and catastrophes rise globally The Aon 2021 Weather, Climate and Catastrophe Insight Report shows only 38% of natural peril losses were covered by insurance. Aon, a leading global professional services firm, has published its 2021 Weather, Climate and Catastrophe Insight Report, which evaluates the increasing frequency and severity of disruptive natural disasters and how their resulting economic losses are protected globally. This data serves as the foundation for insights that can help business leaders quantify and qualify catastrophe-related risk and assess how their organisations can increase resilience amid an increasingly volatile climate. In 2021, 3-billion in global weather and catastrophe-related economic losses were reported, up from 7-billion in 2020. Of the total losses, most (9-billion) resulted from weatherand climate-related events, making last year the third-costliest year on record after adjusting for inflation. While losses were up from 2020, the number of notable disaster events slightly decreased, demonstrating the heightened costliness and severity of these events. Of the 2021 losses, only 38% were covered by insurance. Despite an increase in overall losses from 2020, the protection gap of economic losses not covered by insurance decreased from 63% to 62% in 2021. "Clearly there is both a protection and innovation gap when it comes to climate risk," said Eric Andersen, president of Aon. "As catastrophic events increase in severity, the way that we assess and ultimately prepare for these risks cannot solely depend on historical data. We need to look to technology like artificial intelligence and predictive models that are constantly learning and evolving to map the volatility of a changing climate. With scalable solutions, we can help organisations make better decisions that make them more resilient as they continue to more frequently face interconnected and increasingly volatile risks." Other key findings from the report include: • 401 notable disaster events were recorded in 2021, down from 416 in 2020 • 50 instances of billion-dollar economic loss events, the fourthhighest year on record • European floods in July were the costliest disaster on record for the continent at -billion Wildfires increased in prominence as conditions have become more conducive for the rapid spreading of fires. Germany, Belgium, Austria, Luxembourg and China recorded the costliest insurance industry events on record. 2021 was the world's sixth-warmest year on record with land and ocean temperatures at 0.84°C (1.51°F) above the 20th-century average. The hottest temperature ever reliably measured on Earth was unofficially recorded in Death Valley, California, United States, on 9 July 2021 at 54.4°C (130.0°F). South Africa experienced three notable disaster events in 2021: Cyclone Eloise in January 2021 (above -million), floods (-million) and wildfires in the Western Cape in April 2021 (above 0-million). "Many global communities are exposed to increasingly volatile weather conditions that are in part enhanced by the growing effects of climate change. This includes record-setting episodes of extreme temperatures, rainfall and flooding, droughts and wildfires, rapidly intensifying tropical cyclones and late-season severe convective storms," said Steve Bowen, meteorologist and head of Catastrophe Insight at Aon. The full report and a short video are available on Aon's interactive microsite. Along with this report, readers can access current and historical natural catastrophe data and event analysis at About Aon Aon plc (NYSE: AON) exists to shape decisions for the better – to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow 56 | their business

10 YEARS IN BUSINESS, LEADERS IN ENVIRONMENTAL CONSULTANCY! To be the leading consulting company within the consultancy market, they provide high value Geological, Hydrological, Environmental and Waste Management and Cleaning specialized services to clients across a range of industries that are primarily natural resource based. The company aims to be a consultant that communicates sound waste and environmental services solutions. Singo Consulting (Pty Ltd) offers a wide range of cost effective, high quality Geo-Environmental and Mine Design (Engineering) services to meet your business needs. We are experts in offering:- Mining and Prospecting Applications Mining Feasibility Studies, Mine Design, Reserve Estimation and Competency Report Geological (Exploration, Resource Estimation and Competency Report) Geotechnical Studies (Soils and Rocks) Public Participation Processes Environmental Impact Assessment (EIA) Environmental Management Programme (EMPr) Hydrological and Geohydrological (Surface and Groundwater Studies) Social, Labour and Community Development Programme (SLP) GIS Services Corporate (Organizational Development) Consulting Water Use Licenses Official Website with Free Access | Office 870, 5 Balalaika Street, Tasbet Park Ext 2, eMalahleni

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