The global market for parametric insurance is expected to reach...
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EU banks told to review clients in historic ESG crackdown
Global banking and financial stability organizations are all...
India to start monitoring high-risk glacial lakes next year
There are 56 at-risk glacial lakes in India and the urgency to...
India recognises the need for environmentally sustainable development strategy: IMF
“India has introduced a very interesting new instrument, which is a clean environment cess. It’s an excise tax, but it is an excise tax that targets coal production and import. There is a very interesting instrument and it’s one which is very appropriate for India, because India can make a tremendous amount of progress by targeting reductions in energy production using coal,” the top IMF official said.
Late Indian season monsoon floods cause $10 bn in economic losses:Aon
However, given the low levels of residents and commercial assets with insurance policies in the region, only a small fraction of this total will be covered by insurance payouts, said Aon’s weekly Cat Report.
Axis Capital drops bid to cover Adani’s Australian coal mine project
“The Adani Group’s giant Carmichael coal mine is incompatible with international climate targets and AXIS is the 15th insurer and 58th financial institution to rule out support for this project,” said Peter Bosshard, coordinator of the Unfriend Coal campaign.
World’s largest banks lagging in sustainable finance: Report
Among those 23 banks with commitments, the average annual level of fossil fuel finance between 2016 and 2018 is nearly twice the annualized amount of sustainable finance commitments. Only seven banks had annualized sustainable finance targets greater than the amount of finance they provide for fossil fuel-related transactions.
An India-Pakistan nuclear war could kill millions, threaten global starvation
The researchers calculated that an India-Pakistan war could inject as much as 80 billion pounds of thick, black smoke into Earth’s atmosphere. That smoke would block sunlight from reaching the ground, driving temperatures around the world down by an average of between 3.5-9 degrees Fahrenheit for several years. Worldwide food shortages would likely come soon after.
India shelves plan on countrywide ban on single-use plastic products
India, which uses about 14 million tonnes of plastic annually, lacks an organised system for management of plastic waste, leading to widespread littering.
Monsoon forecast contrary to initial prediction: IMD for detailed analysis
Mohapatra said several global models had predicted below normal monsoon because of the El Nino but IMD stuck to its prediction and did not revise it.
Water crises ranked as the topmost risk in India:WEF
Fifteen of the world’s 20 most polluted cities are in India (where the issue ranked second), and Dhaka, Bangladesh (where it ranked eight),is also on the list. Pollution poses health and economic risks to these countries: Each year, Bangladesh loses approximately $6.5 billion and India $5 billion due to pollution and environmental degradation.
U.N. science panel warns climate impacts on oceans include rising seas, dry rivers
“Everybody in the world will be affected by the changes we are seeing,” Michael Meredith, an oceanographer with the British Antarctic Survey and one of the report’s authors, told Reuters.
Insurers to offer up to $5B in capacity to hike developing nations’ Climate Resilience
As part of the program, as much as $5 billion in insurance capacity will be offered to 20 developing countries that are vulnerable to shifts in the climate and willing to work with the groups to increase their resilience, according to a statement Sunday from the Insurance Development Forum, the UN Development Program, the German Federal Ministry for Economic Cooperation and Development and the U.K. Department for International Development.