Environmental and Climate Risk dominate the risk landscape both in the short and long term, according to the WEF Global Risks Report 2024, with extreme weather events seen as the top risk in the next year and in a 10-year horizon, while Critical change to Earth systems, Biodiversity loss and ecosystem collapse, and Natural resource shortages will become top risks in the coming 10 years. Financial institutions (like insurers, banks and lenders) are increasingly incorporating climate risk intelligence in their decision-making, such as looking at physical risks and transition risks for real estate portfolios, or providing parametric insurance for extreme weather events, but also all sectors are incorporating climate risk in their decision-making from agricultural businesses to industrial sectors. Climate Risk Intelligence & Management raised $4B since 2020 to advance this space. Most of the funding has gone to Earth Observation, Parametric Insurance, Climate Risk Financial Modeling and Weather Forecasting & Monitoring.