Taking Action to Mitigate Climate Risk and Build More Resilient Communities

As communities grapple with escalating disasters, the need for resilient infrastructure and pre-disaster preparedness and mitigation has become increasingly urgent. The U.S. Chamber of Commerce Foundation's 13th Annual Building Resilience Conference brought together leaders to discuss these challenges and potential solutions. 

In a fireside chat with Marty Durbin, senior vice president of policy at the U.S. Chamber of Commerce, Elliot Stultz, senior vice president, deputy general counsel, and chief sustainability officer at Allstate, discussed the business case for resilience and the importance of strong public-private partnerships for effective climate risk management. 

Immediate Climate Resiliency Is Needed to Mitigate the Impacts of Severe Weather Events 

Stultz emphasized the growing importance of resilience in the face of climate uncertainty.  

“To the extent that we can show that pre-disaster preparation and mitigation can be much more effective and much more efficient than post-disaster recovery, it will help communities be more prepared, help communities rebuild more quickly, help small businesses be stronger,” Stultz explained. 

While mitigation remains critical, he added, the increasing frequency of severe weather events necessitates a robust focus on resilience. In his role at Allstate, Stultz has already begun to see climate-related weather effects on insurance policyholders. 

“Ten years ago, we helped customers recover from approximately 80 disasters a year. Today, on average, we pay out on approximately 100 events a year,” Stultz said. 

Communities Are Already Making Difficult Decisions for Long-Term Resilience 

The conversation touched on the economic implications of natural disasters and other climate impacts and the necessity for pre-disaster preparation. Stultz shared an example from his own community, where a historic structure was not rebuilt due to anticipated future risk. 

“The community recognized that by 2050, that beach, because it's so low-lying, is not expected to be there,” he said. “I'm sad to see the loss of a historic structure, but I was very proud to see the evolution of the dialogue to focus on the situation going forward.” 

This illustrates the practical considerations communities must make when planning for long-term resilience.  

“We’re committed to finding solutions to manage climate risk, to help live into our commitments to our customers and communities, and to meet the expectations of our shareholders,” Stultz said. 

The Path Forward Requires Robust Data and Public-Private Partnerships 

One key aspect of building resilience is collecting data around risk management. Stultz pointed out the extensive data Allstate has collected on climate risks and its potential to inform policy and community planning. 

“We have climate data scientists on our staff. We have a very robust risk management department,” Stultz said. 

In addition to data collection, Stultz also stressed the need for stronger building codes, greater preparedness, stronger evacuation plans, and adequate staffing for first responders as part of a broader strategy — a goal that can only be accomplished through a collective effort. 

“None of us in this room or elsewhere can address this situation alone,” he emphasized. “It will require public-private partnerships and we all need to be involved.”