A new study paper CLIMATE CHANGE X CYBER: An Intertwining Risk by Guy Carpenter says climate change and cybersecurity individually are well-known global risks, but the potential intersection of these perils represents an emerging threat that must be understood and taken into consideration by organizations in their long-term business plan and risk management strategy.
The 11-page study paper published in September 2025 says climate-change events, such as extreme weather, can exacerbate cyber risks by disrupting digital systems or causing physical damage that compromises cybersecurity measures. The increase in technologies developed to combat climate change, such as electric vehicle charging stations and green-energy production, also introduces new cyber vulnerabilities.
It further says, “Cyber threats can worsen the impact of climate events if attacks coincide with adverse weather conditions and target critical infrastructure. Cyberattacks directed at the utilities and energy industries can result in major wildfires and even longer-term environmental impacts.
“Understanding the potential interconnections between climate change and cybersecurity will provide a holistic view of loss potential for organizations and governments. A multi-peril
assessment, such as the stress-test framework established by Guy Carpenter, allows insurers and reinsurers to manage their accumulation risk and create innovative risk transfer products to protect cedants against such risks in the future.
The report is the result of joint research between Guy Carpenter’s Cyber Center of Excellence, Guy Carpenter's Peril Advisory Team and Marsh McLennan's Cyber Risk Intelligence Center.