“Greenhouse gas levels are record high. Global temperatures are...
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Allianz and Dutch development bank back $1.1 bln sustainable loans fund
The fund will co-invest in a portfolio of about 100 loans targeting...
Impact of climate change on health takes centre stage at COP28: WHO
7 million premature deaths annually are attributed to air pollution...
Busy Atlantic hurricane season predicted for 2020
HOUSTON: U.S. forecasters expect an above-normal 13-19 named storms during the 2020 Atlantic hurricane season, the National Oceanic and Atmospheric Administration’s (NOAA) Climate Prediction Center said on Thursday.NOAA forecasters estimate three to six...
Indian economist appointed to key World Bank position on climate change and disaster management in South Asia
In his capacity as World Bank’s Practice Manager for Climate Change and Disaster Risk Management for South Asia, one of the top priorities of Jha will be to encourage and help the South Asia region (SAR) Disaster Risk Management and Climate Change team to connect and collaborate across Global Practice boundaries, the bank said in a statement on Friday.And also to the World Bank to conceive and deliver innovative and high-quality development solutions to respond to client demands and strengthen disaster risk management and climate action in the region, the statement said.
Citigroup launches new ESG investment banking group
“The current Covid crisis will elevate the importance of ESG to our clients, as they increasingly focus on more sustainable and resilient strategies and on recovery plans that help drive the just transition to a net-zero emissions future,” global BCMA heads Tyler Dickson and Manolo Falcó said in a memo to bankers sent on Tuesday.
Companies have become more focused on environmental, social and governance (ESG) factors in recent years as activists and investors put pressure on them and companies that put these considerations at the forefront are rewarded.
Punjab staring at loss of Rs 50,000 crore due to COVID-19: Chief Minister
The CM said with some experts predicting a peak in coronavirus pandemic in July and August, Punjab was preparing itself “for the worst”, with the massive influx of migrants and Indian returnees from abroad emerging as the top disease management challenge.
Covid-19 could cause economic loss up to $8.8 trn, 9.7% of global GDP: ADB
The ADB’s forecast, equal to 6.4% to 9.7% of global gross domestic product, was worse than projections in April when it said the global economy could suffer between $2.0 trillion and $4.1 trillion in losses, depending on how long containment measures were in place.
Measures to contain the spread could inflict $1.7 trillion to $2.5 trillion in economic losses in Asia, and between $1.1 trillion and $1.6 trillion in China, the ADB said.
Covid-19 Pandemic:World’s top 100 most valuable insurers could lose $100bn in brand value
At the time of Covid-19 Pandemic, insurance firms damaged both financially and reputationally, as they face a surge in coronavirus-related claims and risk angering customers if they refuse to pay out.Chinese brands make up half of the top 10 insurance companies, while Allianz and Axa also rank among the most valuable firms.
“The Covid-19 pandemic is going to hit the insurance sector hard – Brand Finance has predicted that insurance brands could face up to a 20 per cent drop in brand value and undoubtedly, we are going to witness revenue slowdown for all brands across the sector,” said Brand Finance chief executive David Haigh.
Global temperatures in Apr warmest on Record: European Climate Group
Temperatures well above the historical average also were found in Siberia, the Alaskan coast, the Arctic Ocean, Mexico, western Australia and parts of Greenland and Antarctica. Canada and some parts of southern and south-eastern Asia were cooler than usual.
Barclays CEO says ‘putting 7,000 people in a building may be thing of the past’
“There will be a long-term adjustment in how we think about our location strategy…the notion of putting 7,000 people in a building may be a thing of the past,” he told reporters after the bank reported a fall in first-quarter profits.
Indian airlines may suffer $11.2 bn revenue loss, 2.9 mn jobs at risk: IATA
“Overall, we estimate that the present 90 per cent collapse in air traffic puts around 6.7 million jobs at risk and could lead to a negative GDP impact of 452 billion dollars across Europe. This equates to an additional 1.1 million jobs and 74 billion dollars in GDP over the March estimates of 5.6 million jobs and 378 billion dollars,” said the latest IATA analysis.
Climate change risk will have transformative effect on Energy sector, Willis Towers Watson
In Asia, the Downstream insurance market continues to harden, with losses in countries, including Thailand and Korea. The gap in pricing between Asian and London-based markets is reducing significantly, especially with a majority of the Asian markets making headquarter referrals before underwriting a risk. There are also elements of domestic hardening in countries like Korea, Taiwan and the Philippines amongst others. At the same time, the Downstream market in China remains competitive for domestic risk following the Covid-19 lockdown and pandemic situation, which has affected supply and demand in the oil & gas industry.