The flooding and landslips killed at least 1,230 people, with 659...
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Sri Lanka shuts offices, schools as 56 killed due to floods and landslides
More than 25 people were killed Thursday in landslides in the...
India likely to cross $4 trillion economy mark this fiscal: CEA Nageswaran
Chief Economic Advisor V. Anantha Nageswaran noted India is fully...
European Central Bank plans insurance for climate risks
One part of the plan is a voluntary public-private reinsurance mechanism that would pool private risks across the EU to help backstop weather-related losses. The second pillar would be to create a mandatory European Union fund to pay reconstruction costs when...
GST Council to set up GoM to look into Andhra’s demand for 1 pc calamity cess
The GoM in January 2019 decided to approve the levy of 1 per cent 'calamity cess' by Kerala for a period of two years to fund rehabilitation work in the state hit by floods. The goods and services that faced the 1 per cent cess were decided by Kerala Jaisalmer: The...
Govt plans to make agri residue burning punishable under solid waste management rules
Farmers with less than two acres of land now have to pay environmental compensation of Rs 5,000, up from Rs 2,500. And those with land between two and five acres are fined Rs 10,000 instead of Rs 5,000 New Delhi: The government plans to make open burning of...
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...