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T-shirt weather in December is a sign of what winter has in store
“Due to this year’s El Niño being quite strong, its influence...
Fossil fuels-led temp increase may dent COP28 host UAE’s GDP by 72%
Shady Khalil, Campaigns Lead at Greenpeace Middle East and North...
Climate change could make premiums unaffordable: QBE Insurance
-The insurer said it has started to adjust its catastrophe models to factor in the expected impacts of climate change until 2100, and would assess the impact on its weather-related exposures from emissions and temperatures.
-In the short-term, QBE would manage higher claims by considering event frequency and severity in its capital planning and will deploy a comprehensive catastrophe reinsurance program, it said.
Munich Re targets growing global energy weather hedges
Munich Re competes with Swiss Re, Allianz and Japan’s Sompo in a market where policy prices are individualized and there is little public data.
Renewable insurance plays an important role in Asia’s energy transition:Willis Towers Watson
with the renewable energy industry particularly susceptible to weather volatility, index-based solutions are being increasingly used to address power generation risks, wind and low solar as well as power price volatility and power outages not linked to physical damage.
Most cities in India turning into ‘Urban Heat Islands’: warns IIT Study
“For the first time, we have found evidence of mean daytime temperature of Surface Urban Heat Island (UHI Intensity) going up to 2 degree Celsius for most cities, as analysed from satellite temperature measurements in monsoon and post-monsoon periods.”
Aim to manufacture, sell 1 mn ‘green vehicles’ over next few years: Maruti
The next million green vehicles from company will include a range of technologies and power trains such as CNGs, smart hybrids, strong hybrids and electric vehicles, he added.
UK to ban new petrol car sales from 2035
Britain has pledged to reduce greenhouse gas emissions to net zero by 2050, with a mixture of cuts and off-setting pollution measures such as planting trees.
Most UK insurers, banks unprepared for risks of climate change
The Bank is holding a consultation, led by Breeden, on stress-testing lenders and insurers on their exposures to global warming and the risks associated with a shift to a lower-carbon economy. She addressed the topic with more than 100 finance leaders at an event hosted by Odgers in London.
Oil giant Total sued by 14 French cities, NGOs over failure to cut carbon emissions
The debate over climate change and the role of the energy industry is becoming increasing heated. Oil companies have faced protests from activists for years, but now even some of their largest investors are urging them to do more.
Amazon workers criticise company on climate change despite risk to jobs
Last year, more than 8,000 staffers signed an open letter to CEO and founder Jeff Bezos demanding that Amazon cut its carbon emissions, end its use of fossil fuels and stop its work with oil companies that use Amazon’s technology to locate fossil fuel deposits.
Global economic losses from natural disasters top $232 bn in 2019, as the costliest decade on record comes to a close:AON
From a climate perspective, 2019 was the second warmest year on record for land and ocean temperatures since 1851. Notably, record temperatures of 46.0°C were seen in France and 42.6°C in Germany, while the January to May period was the wettest on record in the United States, with 15.71 inches (399 millimeters) of rainfall.