The wildfires, power outages and extreme weather that have ravaged California are setting the stage for a deepening economic crisis for an engine of U.S. growth. Blazes that scorched 4.1 million acres, more than the past three years combined, have cost a record $1.1 billion to battle. S&P Global Ratings is warning that a new… Continue reading California’s Boom Collapses with Fires Adding $1.1B Toll
Tag: extreme weather
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
QBE Says Parts of Planet Becoming Uninsurable Due to Climate Concerns
Global insurance giant QBE has warned climate change poses a material threat to its business and the entire economy as its chief executive Pat Regan said premiums were at risk of becoming too high in areas exposed to repeated, extreme weather. The comments came after the insurer posted a statutory profit of $550 million, up… Continue reading QBE Says Parts of Planet Becoming Uninsurable Due to Climate Concerns