We hold the view that climate change will materially affect economies and our lines of business, with potential risks and opportunities arising from acute and chronic physical effects on property or human health, such as warming temperatures, extreme weather events, rising sea levels, intensifying heatwaves and droughts, and a cross-sectoral structural change stemming from the transition to a low-carbon economy, including changes in climate policy, technology, and market sentiment, as well as climate change litigation and the market value of financial assets.