We hold the view that climate change will materially affect economies and our business sectors. Risks and opportunities can be seen in the immediate and long-term, including acute and chronic physical impacts on property or human health, such as warming temperatures, extreme weather events, rising sea levels, intensifying heatwaves and droughts, as well as cross-sectoral structural change stemming from the transition to a low-carbon economy, including changes in climate policy, technology, and market sentiment, and the impact of climate change on financial assets, as well as litigation.