Aon Launches Climate Hub in Singapore

Global professional services firm Aon, announced the launch of a new climate innovation hub in Singapore. Supported by the Singapore Economic Development Board (EDB), Aon said the hub will help its clients around the world navigate environmental risk and opportunities.

Aon plans to invest in the hub over the next 10 years to further enhance its data, analytics, insights and solutions to better advise clients on emerging and evolving risks that are increasingly complex and interconnected.

In addition, Aon plans to grow its Centre for Innovation and Analytics (ACIA) in Singapore, which houses the new hub, from nearly 180 staff to more than 350 personnel over the same time period.

“Climate change is a reality, not a probability. In 2022, there were US$313 billion in total economic losses from natural disasters globally—US$299 billion of which was the result of weather and climate events,” said Greg Case, CEO of Aon.

“The acceleration of innovation and digitalisation will continue to influence the future of business. We look forward to working closely with the EDB to identify local talent, pursue innovation at scale and develop new solutions that help our clients make better-informed decisions around the world.”

Through this commitment, Aon plans to further advance its capabilities in several areas to help meet the greatest needs that organisations of all sizes face:

  • Navigating new forms of volatility: model emerging long-tail risks, with an emphasis on climate, and build predictive models and digital solutions.

  • Rethinking access to capital: develop best-in-class global solutions based on Aon’s capabilities to digest, analyse and innovate leveraging data across the global insurance value chain.

  • Building a resilient workforce: create scalable workforce solutions through advanced digital technologies and analytics.

  • Addressing underserved markets: provide access to new solutions to all types of organisations, through rapid deployment and scalable insurance solutions built on digital platforms.

Singapore’s EDB chair Png Cheong Boon added: “Aon’s climate innovation hub will complement Singapore’s growing ecosystem of sustainability solutions providers that can help businesses meet their climate commitments, support their energy transition and explore green growth opportunities.”

“We look forward to partnering with Aon on this initiative and to bring together Aon’s expertise and Singapore solutions providers to develop new and innovative solutions to tackle climate and sustainability challenges.”

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