Major reinsurers have already pulled back from providing bespoke cover for coal projects as part of efforts to meet global climate change commitments, but now comes the hard part – finding ways to exclude coal from bulk-buy contracts, known as “treaty” reinsurance. Reinsurance companies help to share the burden of insurance risks by underwriting frontline… Continue reading Reinsurers Looking to Exclude Coal from Bulk-Buy Policies in Green Gambit
Tag: climate change
Protesters Set Off a Stink Bomb at Lloyd’s Amid Continued Climate Change Activism
Climate change protesters continued to focus on Lloyd’s of London as the fossil fuel industry’s main insurer by setting off a stink bomb outside the market headquarters in London. The activist group, Insurance Rebellion, is calling on the UK government and the insurance industry to stop supporting UK development of the West Cumbria coal mine… Continue reading Protesters Set Off a Stink Bomb at Lloyd’s Amid Continued Climate Change Activism
Eyes on U.S. Climate Lawsuits after Landmark Dutch Ruling
A landmark ruling on Wednesday by a Dutch court ordering Royal Dutch Shell to drastically cut its planned greenhouse gas emissions could impact the United States where most of the world’s climate cases are being litigated. About 1,375 lawsuits seeking relief from climate change have been filed in U.S. courts, compared to about 425 in… Continue reading Eyes on U.S. Climate Lawsuits after Landmark Dutch Ruling
Biden Orders U.S. Agencies to Assess, Mitigate Risks of Climate Change
President Joe Biden on Thursday directed federal agencies to assess and mitigate the increasing and serious risks that climate change poses to individuals, businesses, the federal government and the U.S. financial system, the White House said. Biden issued an executive order requiring development of a comprehensive government-wide climate-risk strategy within 120 days, as well as… Continue reading Biden Orders U.S. Agencies to Assess, Mitigate Risks of Climate Change
NOAA Announced New Climate Normals
The new climate normals released by National Oceanic and Atmospheric Administration on Tuesday reveal that weather across the US is warming. The current normals data set, which represent the average temperature, precipitation and rainfall for 1991 through 2020, highlight that most of the country has warmed compared to normals for 1981 through 2010, except for… Continue reading NOAA Announced New Climate Normals
World Economy Set to Lose Up to 18% GDP from Climate Change If No Action Taken
Climate change poses the biggest long-term threat to the global economy. If no mitigating action is taken, global temperatures could rise by more than 3°C and the world economy could shrink by 18% in the next 30 years. But the impact can be lessened if decisive action is taken to meet the targets set in… Continue reading World Economy Set to Lose Up to 18% GDP from Climate Change If No Action Taken
Zurich Forges Ahead with Climate Goals to Tackle Growing Risk to Society
Zurich Insurance Group (Zurich) is intensifying action in support of global efforts to avert the threat of climate change. The Group is committed to using every lever available – investments, operations, and products and services – to accelerate the transition to a net-zero2 emission economy. Zurich is setting new climate targets for its investments and… Continue reading Zurich Forges Ahead with Climate Goals to Tackle Growing Risk to Society
Oil Companies Defeat New York City Appeal Over Global Warming
A federal appeals court on Thursday rejected New York City’s effort to hold five major oil companies liable to help pay the costs of addressing harm caused by global warming. Ruling in favor of BP Plc, Chevron Corp, ConocoPhillips, Exxon Mobil Corp and Royal Dutch Shell Plc, the 2nd U.S. Circuit Court of Appeals in… Continue reading Oil Companies Defeat New York City Appeal Over Global Warming
Water Scarcity Is Baking Cropland, Ramping Up Wildfire Risk from California to Texas
Normally at this time of year, Katy Kemp’s 80 head of cattle would be grazing on her family’s ranch in Staples, Texas. Instead, the herd is living off dwindling hay stores as drought dries up grassland and chokes off crops. Parts of Texas are so starved for water that ranchers are trucking feed 1,000 miles… Continue reading Water Scarcity Is Baking Cropland, Ramping Up Wildfire Risk from California to Texas
New York Senator Stalls Climate Overhaul of Flood Insurance Program
One of the federal government’s main efforts to push Americans to prepare for climate threats is in question after the Senate majority leader’s office objected to a plan to adjust flood insurance rates. The Federal Emergency Management Agency was preparing to announce new rates for federal flood insurance on April 1, so that the prices… Continue reading New York Senator Stalls Climate Overhaul of Flood Insurance Program