Carbon footprints measure the amount of carbon dioxide released into the atmosphere as a result of everyday activities ECB runs climate stress tests on the euro zone's commercial banks and has been increasing the penalties - or haircuts, in banking jargon - charged on...
Climate, Environment, Renewable Energy
Aon and Lifeguard to boost emerging risk insights through science crowdsourcing platform
The collaboration with Aon will augment existing insurance industry emerging risks research and provide insights into areas where insurers lack the resources to gain a thorough understanding of their exposures CHICAGO: Aon plc, a leading re/insurance broker , today...
IPCC report a call to action for all, especially countries like India: Co-authors
As per the report's indicators, India, with a large coastline and millions of people surviving on the revenue they earn from fisheries, has many things to worry about. With the rise in seawater level, which the report documented as 3.7 mm per year between 2006 and...
Global insured losses from natural catastrophes break through USD 100 billion threshold again in 2022: Swiss Re
This reaffirms the trend of a 5–7% average annual increase in insured losses over the past three decades, reveals Swiss Re’s latest sigma report "The magnitude of losses in 2022 is not a story of exceptional natural hazards, but rather a picture of growing property...
Climate risk-related downgrade may affect 20% of global corporates by 2035
London: Almost 20% of global corporates could face rating downgrades by 2035 due to climate vulnerabilities if such risks are not mitigated, Fitch Ratings says. ``This represents the proportion of corporates that we estimate to have Climate Vulnerability Scores...
EU’s climate stress now to include insurers
The inclusion of insurers marks an expansion of the region’s preparations for the transition of the financial sector. Insured losses from climate change hit about $120 billion in 2022, according to data compiled by Munich Re, and the industry is generally seen as at...
Civil aviation ministry’s consultative committee discusses sustainable development initiatives
Jyotiraditya Scindia,Union minister, Ministry of Covil Aviation The ministry has taken initiatives to make airports carbon neutral and reach the target of net zero carbon emissions. It has also advised all operational brownfield airports and upcoming greenfield...
Finance firms with $136 trln urge boards for more environmental data
For the first time, the questionnaire will also ask companies about plastics-related business risks, for example around packaging, and how they are addressing them The increase in demand for more information from companies comes as regulators across the world begin to...
Unprecedented increase in global ocean plastic pollution
The ocean supplies half the planet’s oxygen, absorbs more than a third of carbon dioxide emissions from the burning of fossil fuels and feeds billions of people. But it is in trouble from overfishing, plastic dumping and acidification The report comes just days after...
Canada’s financial industry regulator issues norms for banks, insurers to disclose climate risks
The principles come into effect at the end of fiscal 2024 for larger banks and insurers and in 2025 for smaller firms, the regulator said in a statement. The Canadian regulator is going ahead with its first climate framework as global financial bodies raise pressure...