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Switzerland is the best-prepared country in the world for climate change and other shocks, KPMG finds. This is the second year in a row that Switzerland has come in first place in KPMG’s Change Readiness Index.
Global management consultancy KPMG has analyzed the ability of 140 countries to respond to external shocks. This includes not only financial shocks, but also the impacts of climate change, for which there are no simple solutions. KPMG’s Change Readiness Index 2019 also includes the ability of countries to respond to political and economic opportunities.
Switzerland came in first place in the index for the second year in a row. It ranked first in terms of both corporate capability and government capability, and it came in third place for people and civil society capability, just after Sweden and Denmark. According to KPMG’s analysis, Switzerland is around 16 percent better prepared for changes and shocks than the average wealthy country.
When comparing regions, Western and North Europe is best prepared for change and shocks, with seven of the ten most adaptable countries located in this region. The 20 best-prepared countries all have high incomes. This is also connected to the high costs associated with adapting to climate change, which KPMG estimates will cost between 280 billion dollars to 500 billion dollars per year by 2050.
To compile its index, KPMG used a survey conducted by Oxford Economics of 1,400 country experts, as well as a wide range of secondary sources, such as the World Bank, the World Economic Forum and the World Health Organization.