CPSL's Southern Africa office hosted a panel discussion on 15 February to unpack the business implication of COP15. The panel, which included South Africa's Minister of Water and Environmental Affairs, one of the South Africa's top climate policy experts and Santam CEO Ian Kirk, shared their views on how the global climate discussion will unfold and what it means for South Africa.

Ian Kirk said that while mitigation efforts are important in reducing carbon emission and eliminating the long-term effects of climate change, all stakeholders should also place equal focus on adaptation efforts to tackle the short and medium term threats: "Climate change is already affecting us and we need to prepare ourselves and adapt to the impacts to come".

"Adaptation in a business is just as important as it deals with current issues and threats surrounding unpredictable climate patterns, but there is a lack of basic understanding with regard to the impact of climate change on every day life and business in general. This is also where the insurance industry is particularly exposed"

Ian Kirk stated that climate change is a systemic risk, and that businesses should start engaging with government and society, as collaborative risk management is needed to tackle this systemic issue.