Our perspective is that climate change will have a material impact on economies and industries, with potential risks and opportunities arising from both immediate and long-term changes. These can include acute and chronic physical effects such as rising temperatures, severe weather, 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, as well as litigation related to climate change.