Warren Buffett’s Berkshire Hathaway Inc on Monday urged the rejection of shareholder proposals that annual reports be produced about its efforts to address climate change and promote diversity and inclusion. The proposals were disclosed in Berkshire’s annual proxy filing, ahead of the Omaha, Nebraska-based company’s scheduled May 1 annual meeting. Berkshire also said Buffett’s compensation… Continue reading Buffett’s Berkshire Opposes Shareholders’ Climate Change, Diversity Proposals
Tag: climate change
Rising Sea Levels Inundating Coastal Economies Four Times Faster
The economic impacts of rising sea levels will be felt four times faster by people living in some of the world’s biggest coastal cities, which are sinking beneath their own weight into manmade cavities created below the surface. The scientific assessment published Monday in Nature Climate Change is the second in a month to show… Continue reading Rising Sea Levels Inundating Coastal Economies Four Times Faster
NAIC Task Force Meets to Address Climate and Resiliency
The National Association of Insurance Commissioners (NAIC) discussed the work of its Climate and Resiliency Task Force during meetings of insurance regulators last week, coordinating state-level efforts to address growing climate risk in the insurance sector. The Climate and Resiliency Task Force coordinates the NAIC’s domestic and international efforts on climate and resiliency issues, including… Continue reading NAIC Task Force Meets to Address Climate and Resiliency
Dumping Coal Can Be Good for Insurance Company Stock
As far as climate groups like the Sunrise Project are concerned, getting insurers out of the coal underwriting business is the most important thing they can do. No more insurance, no more coal. It’s something Sunrise has been pushing for years. But while it’s happening in Europe, it hasn’t caught on in America. Analysts at… Continue reading Dumping Coal Can Be Good for Insurance Company Stock
Transition to Renewable Energy Driving Transformation of the Industry: WTW
Climate change and the subsequent transition to renewable energy and low-carbon initiatives, as well as the growing significance of Environmental Social Governance (ESG) pressures, will transform the renewable energy industry risk landscape, according to Willis Towers Watson, a leading global advisory, broking, and solutions company, at the launch of its annual Renewable Energy Market Review.… Continue reading Transition to Renewable Energy Driving Transformation of the Industry: WTW
Homeowners and Insurers Will Grapple with Climate Change in 2021
After a 2020 filled with hurricanes and wildfires, this year could be the moment when the U.S. insurance industry finally grapples with climate change. Who will win that wrestling match? Insurers? Homeowners? Or the increasingly challenging environment? “The alarm bells are now ringing loudly,” says Karen Collins, who handles home insurance and other personal lines… Continue reading Homeowners and Insurers Will Grapple with Climate Change in 2021
2020 Ties for Hottest Year on Record, NASA Says
Rising temperatures last year capped the world’s warmest decade in modern times, federal climate scientists said Thursday. In a new climate study, the National Aeronautics and Space Administration ranked 2020 in a dead heat with 2016 as the warmest year since official record-keeping began in 1880. The record-tying warmth came despite a cooling La Niña… Continue reading 2020 Ties for Hottest Year on Record, NASA Says
Climate Change Has Cost the U.S. Billions of Dollars in Flood Damage, Study Finds
Intensifying rainfall fueled by climate change has caused nearly $75 billion in flood damage in the U.S. in the past three decades, Stanford University researchers confirmed in a new study Monday. The findings, published in the journal Proceedings of the National Academy of Sciences, shed light on the ongoing debate on how climate change has… Continue reading Climate Change Has Cost the U.S. Billions of Dollars in Flood Damage, Study Finds
Climate Change Led to Record Insurance Payouts in 2020
COVID continues to cause severe economic distress, but natural disasters fueled by a warming planet also took their toll this year, causing record damage and displacing millions according to two new assessments of insurance claims in 2020. Christian Aid, the relief arm of 41 churches in the U.K. and Ireland, ranked the 15 most destructive… Continue reading Climate Change Led to Record Insurance Payouts in 2020
Changes Caused by Worsening Wildfires in California Forests Will Last Centuries
The single-engine Cessna was buzzing 1,000 feet above a Northern California burn scar as UC Berkeley scientist Scott Stephens shifted excitedly in his seat and peered out the window for a better view. Down below, heavy machinery kicked up clouds of dust as commercial loggers attempted to salvage whatever timber they could, while a vast… Continue reading Changes Caused by Worsening Wildfires in California Forests Will Last Centuries