Wildfires are now outpacing existing suppression systems and have become one of the most destructive and costly climate-driven risks globally. Recent events, including the January 2025 Los Angeles-area wildfires, which resulted in an estimated $40 billion in insured losses, underscore the growing economic and social toll.
Developed in partnership with PwC, this white paper highlights that continuing to prioritize suppression and post-disaster response is no longer sufficient. While more than half of wildfire-related spending is directed towards response, only a fraction is invested in prevention and planning, despite strong evidence that upstream investment delivers substantial avoided losses. The paper presents a framework for shifting towards prevention-focused, long-term wildfire resilience by making risk reduction measurable, priceable and financeable.
Drawing on global data, case studies and expert insights, it outlines how coordinated action across finance and insurance, data and technology, nature-based solutions, and community-led approaches can reduce losses, stabilize markets and support more resilient communities worldwide.