Insurers and pension funds managing $2.3 trillion pledged on Monday to shift their portfolios away from carbon-heavy industries in the hope of triggering snowballing climate commitments from other big investors. German insurer Allianz, the California Public Employees’ Retirement System (CalPERS), and Swedish pension fund Alecta were among the founders of the new “Net Zero Asset… Continue reading Pension Funds and Insurers Pledge Climate Action at U.N. Summit
Tag: climate change
Scared Central Banks Face Up to Threats from Climate Change
Bank of England Governor Mark Carney was in no mood for laughter as he stood in his tuxedo before the great and good of the British insurance industry. “I’m going to give you a speech without a joke, I’m afraid,” Carney began his remarks on the night of Sept. 29, 2015, at Lloyd’s of London.… Continue reading Scared Central Banks Face Up to Threats from Climate Change
Climate Change Poses Major Risk to Flood Insurance Program, Experts Warn
Environmental experts last week warned House lawmakers about risks to the National Flood Insurance Program (NFIP) posed by climate change, saying the situation is likely to worsen in the coming years. The hearing, hosted by the Financial Services Subcommittee on National Security, International Development and Monetary Policy, focused on the macroeconomic effects from climate change… Continue reading Climate Change Poses Major Risk to Flood Insurance Program, Experts Warn
U.S. Scientist to File Whistleblower Complaint after Agency Halts His Climate Work
A climate scientist for the Trump administration’s health protection agency who was ordered to drop work on climate issues will file a whistleblower complaint this week with the U.S. Office of Special Counsel, his lawyers said on Wednesday. George Luber, who ran the climate and health program at the Centers for Disease Control and Prevention,… Continue reading U.S. Scientist to File Whistleblower Complaint after Agency Halts His Climate Work
Automakers Strike a Deal with California to Reduce Tailpipe Pollution
Four of the world’s largest automakers, including the Ford Motor Company, have struck a deal with California to reduce tailpipe pollution, in a blow to the Trump administration as it prepares to roll back national vehicle pollution standards and revoke states’ rights to set their own such rules. While Trump administration officials in the White… Continue reading Automakers Strike a Deal with California to Reduce Tailpipe Pollution
As Climate Change Threatens California, Officials Seek ‘Sustainable Insurance’
California regulators are teaming up with the United Nations to develop “sustainable insurance” guidelines that would help address climate-change-related disasters such as coastal flooding and larger wildfires — the first such partnership of its kind between the international organization and a U.S. state, officials announced Tuesday. After a roundtable discussion at UCLA with lawmakers, state… Continue reading As Climate Change Threatens California, Officials Seek ‘Sustainable Insurance’
Zurich Commits to UN Climate Pledge, Plans to Lower Fossil Fuel Exposure
Zurich Insurance Group has committed to setting new climate targets in line with the framework of the UN Global Compact Business Ambition Pledge, which aims to limit the rise in global temperatures to 1.5°C. As part of its commitment, Zurich will expand its existing thermal coal policy by engaging with clients and investee companies to… Continue reading Zurich Commits to UN Climate Pledge, Plans to Lower Fossil Fuel Exposure
The Impact of Climate Change on the Reinsurance Market
Traub Lieberman Straus & Shrewsberry LLP Senior Counsel Adam D. Krauss has just published a new white paper in conjunction with Aspen Re on climate change and its impact on the (re)insurance market. In the piece, titled “Climate Change and the (Re)insurance Implications,” Krauss takes a comprehensive look at the issues surrounding climate change, including… Continue reading The Impact of Climate Change on the Reinsurance Market
Architects, Builders Hear New Buyer Mantra: Safety, Resilience
Breezy Point is beautiful in the summertime, a quaint neighborhood sitting on a slim peninsula that juts out into the Atlantic just south of New York City. In a storm, though, that dreamy setting can become a nightmare. Breezy Point was devastated by Hurricane Sandy in 2012. Flooding, high winds and fires destroyed more than… Continue reading Architects, Builders Hear New Buyer Mantra: Safety, Resilience
As Hurricane, Fire Seasons Approach, More People Likely to Be in Harm’s Way
As emergency managers prepare for hurricane and wildfire seasons, they say growing development and higher population in vulnerable areas will likely amplify the damage and devastation. Meteorologists expect more than a dozen named storms in the Atlantic this year, slightly above average. In California, a burst of vegetation from rains could serve as fuel in… Continue reading As Hurricane, Fire Seasons Approach, More People Likely to Be in Harm’s Way