Top Risk Trends for Chemicals, Energy, & Mining in 2026

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Geopolitical shifts, emerging technologies, and changing business models are reshaping risk for chemicals, energy, and mining companies as they look ahead to 2026. Host Victoria Meyer explores the top risk trends impacting these sectors with firsthand insights from Marsh industry leaders including Kimberly Mann, Bill Kost, Cynthia Hazard, Steve Horstkamp, and Raul Munoz after attending the Marsh North American Energy Conference. Discussions range from the rising importance of M&A and evolving credit risks, to the critical role of social license and geopolitics in mining, as well as the proactive management of environmental liabilities.

The conversation also addresses the transformative impact of AI—not just as a potential disruptor, but as a catalyst for new job opportunities and operational efficiencies. Victoria and guests highlight the need for organizations to build adaptive, collaborative, and forward-thinking risk strategies across business functions. With rapid change the new “normal,” these insights offer practical guidance for leaders intent on managing uncertainty and building resilience within the chemicals, energy, and mining sectors.

Victoria and guests discuss the following:

How M&A, market shifts, and geopolitics are reshaping risk in chemicals, energy, and mining for 2026
Why global politics and community buy-in are critical for mining and minerals companies’ success
The impact of artificial intelligence on jobs, business models, operations, and sector vulnerabilities
The growing importance of being adaptive, collaborative, and clear-eyed about risk management
Managing workforce transformation, setting AI boundaries, and upskilling for a resilient future

Killer Quote: “When I speak to leaders about transformation, it’s not about job loss, it’s about job redesign. So they need to be thinking, how do we need to work to be the best ABC company to do what we do? It’s taking that redundant low value work, giving it to an AI agent and then really upskilling our employees, the humans to be better at what we do.” – Cynthia Hazard

Watch This Episode Here:

Top Risk Trends for Chemicals, Energy, & Mining in 2026

In an ever-shifting global business environment, the chemical, energy, and mining sectors are bracing for new and complex risks as 2026 approaches. On this episode of The Chemical Show, host Victoria Meyer shares insights gathered from industry experts at January’s Marsh North American Energy Conference. Through a series of candid interviews with professionals like Kimberly Mann, Bill Kost, Cynthia Hazard, Steve Horskamp, and Raul Munoz, three major trends stand out: changing risk profiles, the impact of AI and technology, and the need for proactive, collaborative risk management. Here’s a look at what’s shaping the strategic conversation for 2026 and beyond.

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The Evolving Nature of Risk in Chemicals, Energy, and Mining

Risk is nothing new in these sectors, but the nature and sources of that risk are quickly changing. According to Victoria, this shift comes from a blend of macroeconomic and political forces, M&A activity, and the aftershocks of supply chain disruptions.

Raul Munoz, head of mining and minerals at Marsh North America, underscores the unique challenge mining companies face when operating in geopolitically sensitive regions. “You can’t choose where you find copper or other ores,” Raul explains. “Where the resources are dictates where you need to go. And with that comes exposure to regional, political, and social risks.” Social license to operate is now just as critical as insurance and compliance, echoing the reality that ESG concerns are deeply embedded in daily operations, not a new concept for miners.

On the chemical side, Kimberly Mann highlights how restructuring, carve-outs, and acquisitions introduce unfamiliar environmental liabilities. “When you divest or acquire, you’re inheriting exposures you might not fully see, even with thorough due diligence,” she notes. Environmental site assessments can help, but uncertainty persists, especially as regulations evolve.

AI and Technology: Opportunity and Risk

The transformative power of AI is everywhere—on the shop floor and in the boardroom. But as Victoria says, this isn’t just a tool; AI promises industry upheaval. Its adoption raises urgent questions about job redesign, data privacy, and the pace of organizational change.

Cynthia Hazard brings a pragmatic view: “There’s a lot of fear around AI replacing human jobs, but our actual challenge is redesigning work and upskilling employees to leverage AI strengths.” According to recent studies she cites, while AI may displace millions of roles, it will create even more jobs—roles that don’t exist yet. For organizations, success depends on unlocking the human potential that AI can’t replicate: judgment, creativity, and insight.

Bill Kost agrees, pointing out that rigorous oversight is essential when layering in technology. For example, while AI transcription tools can speed up documentation, they also open up new vulnerabilities if errors go unchecked. “It’s trust, but verify,” he says, a principle for any AI-driven process handling sensitive business information.

Proactive, Adaptive, and Collaborative Risk Management

The final recurring theme is a call to action: companies can’t afford to be passive about risk. Adaptation and collaboration across business functions and the value chain are essential to manage today’s complexity. Victoria stresses that risk is everyone’s job, from the corporate office to the commercial team.

Steve Horskamp relays that clients are challenging advisors to help them right-size insurance programs, reduce fixed costs, and gain more control over retained liability; moving away from a “one size fits all” mindset.

Cynthia Hazard advocates for breaking out of risk-averse comfort zones, especially when it comes to digital transformation. “Embrace the art of the possible with AI,” she says. Effective risk management in 2026 will demand both the discipline to protect critical assets and the creativity to pursue new openings.

The risk landscape for chemicals, energy, and mining is more dynamic and unpredictable than ever. Businesses must remain vigilant, foster a culture of collaboration and continuous learning, and use technology as both shield and catalyst. As 2026 approaches, keeping these themes at the center of your strategy will help your organization not just survive, but thrive in the face of uncertainty.

For ongoing insights, tune into The Chemical Show or connect with us for future discussions—because risk may be constant, but how we face it makes all the difference.