Flood, fire, and drought fueled by climate change could take a massive bite out of the U.S. federal budget per year by the end of the century, the White House said in its first ever such assessment on Sunday. The Office of Management and Budget assessment, tasked by President Joe Biden last May, found the… Continue reading Climate Change Could Cost U.S. Budget $2 Trillion Annually by End Century
Tag: climate change
U.N. Panel: Impacts of Climate Change Now Severe and Widespread
Storms, heat waves, droughts, and other extreme weather events are occurring more frequently and with greater severity than experts predicted several years ago, causing serious health and economic consequences around the world, according to a panel of scientists convened by the United Nations in a new report released Monday. Climate experts described the report as… Continue reading U.N. Panel: Impacts of Climate Change Now Severe and Widespread
U.S. Coastline to See Up to a Foot of Sea Level Rise by 2050
The United States is expected to experience as much sea level rise by the year 2050 as it witnessed in the previous hundred years. That’s according to a NOAA-led report updating sea level rise decision-support information for the U.S. released today in partnership with half a dozen other federal agencies. The Sea Level Rise Technical… Continue reading U.S. Coastline to See Up to a Foot of Sea Level Rise by 2050
U.S. Crop Insurance Payouts Rise Sharply As Climate Change Worsens Droughts, Floods
Insurance payments to U.S. farmers for crops lost to droughts and flooding have risen more than threefold over the past 25 years, according to an analysis of federal data by the Environmental Working Group (EWG) released on Thursday. The report reinforces concerns that insuring the nation’s crops will get more expensive for insurance companies, farmers… Continue reading U.S. Crop Insurance Payouts Rise Sharply As Climate Change Worsens Droughts, Floods
Climate Change Contributed to $130B in Insured Losses in 2021: Aon
Climate change played a part in insured losses from natural catastrophes that totalled $130 billion globally in 2021, the fourth-highest on record, broker Aon said in a report on Tuesday. Economic losses – the combination of insured and uninsured losses – reached $343 billion, Aon said in the report which it publishes annually. Climate change… Continue reading Climate Change Contributed to $130B in Insured Losses in 2021: Aon
New Deloitte Research Highlights Increasing Business Concern Over Climate Change
Deloitte’s 2022 CxO Sustainability Report: The Disconnect Between Ambition and Impact, reveals that global C-level business leaders (or CxOs) are increasingly concerned about climate change and see the world at a tipping point to act. Eighty-nine percent of CxOs agree there’s a climate crisis and 63% say their organizations are very concerned. Yet, they are… Continue reading New Deloitte Research Highlights Increasing Business Concern Over Climate Change
Closely Built Homes Help Spread Colorado Marshall Fire
Too many houses built too close together on the tinder-dry high plains between Denver and Boulder resulted in $1 billion in Marshall firestorm losses, insurance industry researchers discovered this week as they sifted through ashes and charred ruins. They were starting an investigation, similar to the work done after previous devastating fires, such as the… Continue reading Closely Built Homes Help Spread Colorado Marshall Fire
Cyber Perils Outrank Covid-19 and Broken Supply Chains as Top Global Business Risk: Allianz
Cyber perils are the biggest concern for companies globally in 2022, according to the Allianz Risk Barometer. The threat of ransomware attacks, data breaches or major IT outages worries companies even more than business and supply chain disruption, natural disasters or the Covid-19 pandemic, all of which have heavily affected firms in the past year.… Continue reading Cyber Perils Outrank Covid-19 and Broken Supply Chains as Top Global Business Risk: Allianz
World Economic Forum Warns Cyber Risks Add to Climate Threat
Cyberthreats and the growing space race are emerging risks to the global economy, adding to existing challenges posed by climate change and the coronavirus pandemic, the World Economic Forum said in a report Tuesday. The Global Risks Report is usually released ahead of the annual elite winter gathering of CEOs and world leaders in the… Continue reading World Economic Forum Warns Cyber Risks Add to Climate Threat
Marshall Fire Insured Losses Estimated at $1 Billion: KCC
The recent severe wildfire outbreak that was named the Marshall Fire and impacted residential areas in Boulder County, Colorado, has been estimated as around a $1 billion insurance industry loss, by risk modeller Karen Clark & Company. About 1,000 properties destroyed and more damaged by the Marshall Fire, there was a strong chance insurance and… Continue reading Marshall Fire Insured Losses Estimated at $1 Billion: KCC