An October report in The Lancet scientific journal estimates the...
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Banks at crossroads as AI costs rise and risks escalate: S&P Report
In terms of risk management practices, the report pointed out that...
Willis and Rare partners to launch innovative insurance solution for fishers in the Philippines
Christopher Au, Head of APAC Climate Risk Centre, at Willis, said:...
Insurers’ climate losses almost match premiums from fossil fuels
On average, fossil-fuel premiums account for less than 2% of total premiums, raising questions about why insurers aren’t using their immense influence to protect the other 98% of their business from spiraling climate risks Top insurance companies suffered $10.6...
Investigation finds Rio Tinto legacy Bougainville mine poses life-threatening risks
The findings, released in a report on Friday, included "imminent, life-threatening risks posed by the collapsing mine pit, levees and infrastructure," as well as ongoing contamination of the Jaba-Kawerong river Rio Tinto recognises the gravity of the impacts and...
India beats China in green investments; deals worth $2.4 bn completed in Q3
More than a dozen renewables and electric vehicle firms have publicly listed this year, including solar panel producer Waaree Energies Ltd. and scooter manufacturer Ola Electric Mobility Ltd. Shares in clean power firm NTPC Green Energy Ltd. have advanced more than 30...
Investors with $9.5 trillion seek mandatory Scope 3 emissions disclosures
The group, which includes Allianz SE and the California Public Employees’ Retirement System, said while it’s critical for signatories to consider Scope 3 pollution, integrating those emissions into carbon accounting and target setting “is highly challenging” due to a...
Global insured NatCat losses over $135 billion in 2024 , says Swiss Re
Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says: "Economic development continues to be the main driver of the rise in insured losses resulting from floods, but also other perils, seen over many decades. However, with natural catastrophe risks rising and...
Italy makes it mandatory for companies to buy climate risk covers
Most Italian businesses — especially small and mid-sized ones — have no protection at all. The new law will require companies to buy coverage and insurers to write policies or face fines. The plan is backed by a €5 billion ($5.3 billion) reinsurance fund, set up by a...
Build capabilities to ensure correct assessment of climate change risks: RBI Dy Guv Rao
The climate-specific vulnerabilities’ interplay with real economy and financial sector vulnerabilities can lead to financial stability risks, Reserve Bank Deputy Governor M Rajeshwar Rao said New Delhi: Reserve Bank Deputy Governor M Rajeshwar Rao has stressed on...
Zurich Resilience Solutions and GoImpact Capital Partners forge strategic alliance for APAC climate resilience
Initially targeting businesses in Hong Kong, Singapore, and Malaysia, the strategic alliance aims to address key climate risks such as extreme weather events, supply chain disruptions, and operational vulnerabilities HONG KONG SAR: Zurich Resilience Solutions (ZRS),...
Vanuatu urges World Court to recognise climate change harms
Vanuatu, one of the small island states that has spearheaded the effort to get the World Court to give a so-called advisory opinion, was the first of more than 100 states and international organisations to give its views during two weeks of proceedings THE HAGUE:...
Over 100 countries back Plastic Treaty caps as talks reach fierce finish
As of Sunday, countries remained far apart on the basic scope of the treaty, with one option proposed by Panama – and backed by over 100 countries – that creates a path for a global plastic production reduction target and another which does not allow production caps...