Residents of fire-ravaged Western states, and an entire world of observers looking on in horror, have asked themselves, “How can this be happening?” As fire last week taunted Paradise, California, destroyed in the 2018 Camp Fire, many others have found themselves asking a related, but much more complicated question: How can this be happening again?”… Continue reading Scientists Studying Why California Keeps Burning
Tag: climate change
Major Risks of Our Time: Pandemics, Climate Change, Cyber
The coronavirus pandemic has shown the world how vulnerable it is to very large risks. Trillions in financial losses ought to be a wake-up call for economies to better equip themselves for extreme risks of this nature. We therefore must not lose sight of major threat scenarios such as cyber and climate change because their… Continue reading Major Risks of Our Time: Pandemics, Climate Change, Cyber
Hurricanes Keep Getting More Destructive
A destructive storm is rising from warm waters. Again. America and the world are getting more frequent and bigger multibillion dollar tropical catastrophes like Hurricane Laura, which is menacing the U.S. Gulf Coast, because of a combination of increased coastal development, natural climate cycles, reductions in air pollution and man-made climate change, experts say. The… Continue reading Hurricanes Keep Getting More Destructive
Coastal Flooding Could Hit 20% of World GDP by 2100: Study
Failure to rein in climate change and bolster sea defenses could jeopardize up to a fifth of the world’s economic output by the end of the century, as flooding threatens coastal countries worldwide, according to a study released on Thursday. From Bangladesh and India to Australia and even Britain, rising sea levels already are leading… Continue reading Coastal Flooding Could Hit 20% of World GDP by 2100: Study
Climate Change, COVID-19 Stoke Wildfire’s Economic Risk: Fed Says
Wildfires threaten the economy of the western United States to a greater extent than the rest of the country, and the coronavirus pandemic and climate change will only make that worse, according to research from the San Francisco Fed on Monday. Some 52% of economic output in Arizona, California, Idaho, Nevada, Oregon, Utah, and Washington… Continue reading Climate Change, COVID-19 Stoke Wildfire’s Economic Risk: Fed Says
Connecting Climate Change Nuisance Suits to Insurance Recovery
Over the past few years a wave of lawsuits has sought to hold fossil fuel companies responsible for the societal costs associated with climate change. For the most part, these lawsuits have been brought by cities, counties, and one state in which the plaintiffs have pressed novel claims of public nuisance and other state laws… Continue reading Connecting Climate Change Nuisance Suits to Insurance Recovery
Boardrooms Urged Not to Let Climate Change Drop Off the Agenda After Pandemic
Board directors have been informed of the need to maintain focus on meeting the UK government’s target of a net zero carbon economy by 2050, as well as the short-term goal of reaching a 50% reduction in emissions during the decade. Speaking at a webinar jointly organised by Chapter Zero and Willis Towers Watson, Susan… Continue reading Boardrooms Urged Not to Let Climate Change Drop Off the Agenda After Pandemic
RMS Enables Organizations to “Flatten the Curve” from Acute and Chronic Disasters with Modern Risk Technology
The world is experiencing the extraordinary crisis of the COVID-19 pandemic, coupled with the never-ending climate crisis and escalating cyber threats. Markets, supply chains, economies, societies and assets can be highly susceptible to shocks and damage from these dynamically shifting risks, posing major challenges to understanding the impacts of these risks and to recovery. At… Continue reading RMS Enables Organizations to “Flatten the Curve” from Acute and Chronic Disasters with Modern Risk Technology
Climate Change Risk Will Have Transformative Effect on Energy Sector
Climate change and Environmental Social Governance (ESG) will transform the energy industry risk landscape, according to Willis Towers Watson, a leading global advisory, broking, and solutions company, at the launch of its annual Energy Market Review. Additionally, the recent oil price war and the reduction in demand for hydrocarbons as a result of the current… Continue reading Climate Change Risk Will Have Transformative Effect on Energy Sector
Socio-Economic Developments, Climate-Change Effects to Drive Rising Losses from Severe Weather Events: SIGMA
The latest sigma “Natural catastrophes in times of economic accumulation and climate change” says that Swiss Re Institute expects that global warming will lead to growing intensity and frequency of severe weather events, but also to more uncertainty in their assessment. Economic and insured losses resulting from such events will rise in the coming decades,… Continue reading Socio-Economic Developments, Climate-Change Effects to Drive Rising Losses from Severe Weather Events: SIGMA