"We further direct the chief secretaries of all the states and the...
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Climate, Environment, Renewable Energy
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Global banking regulators agree to prioritise climate risk work
The oversight body of the world’s forum for banking regulators met...
German reinsurers post profit falls after $1.9 billion Los Angeles fire claims
“The devastating wildfires in California are another example of how...
EU banks told to review clients in historic ESG crackdown
Global banking and financial stability organizations are all reviewing reporting and capital frameworks, though none has moved as fast as the EU in setting firm requirements. The Basel Committee on Banking Supervision expects to publish a proposed framework for...
India to start monitoring high-risk glacial lakes next year
There are 56 at-risk glacial lakes in India and the urgency to monitor them was stepped up after Lhonak Lake in the eastern Himalayas burst its banks two weeks ago and caused widespread damage in Sikkim, a small mountainous state wedged between China, Nepal and Bhutan...
India’s initiatives for climate resilient marine fisheries to be presented at int’l conclave
The Indo-Pacific region is highly vulnerable to climate change, leading to adverse impact on marine fisheries. These effects range from the increased frequency of extreme weather events to the threats of flooding, erosion, and sea-level rise. P Krishnan, Director, Bay...
Multilateral development banks provide record climate finance
``But we need to do more. In Asia and the Pacific, home to many of the most climate-vulnerable countries, we will need to mobilize significant amounts of private sector finance to move from the billions to trillions required to cut greenhouse gas emissions and...
FM Sitharaman urges private sector to come forward and support SDGs
For the first time, during India's G20 Presidency, the agenda of Sustainable Finance has been extended to cover financing for SDGs, in addition to Climate Finance, Finance Minister Nirmala Sitharaman said Marrakesh: Finance Minister Nirmala Sitharaman on Saturday...
Sharp rise in companies’ climate-related risk disclosure G20 report
Climate-related metrics disclosure led the way with over 70 per cent of companies disclosing the metrics they use. Reporting on greenhouse gas emissions and climate-related targets also showed considerable progress (both at 66 per cent), with a 24 per cent increase in...
Use of Weather Derivatives surges as extreme climate events rock the globe
Weather derivatives let buyers hedge against the risk that the weather will damage their business. Unlike insurance, where companies must prove they have suffered a loss, they pay out based on indexes. These might track the temperature in Paris or rainfall in New York...
Global economic losses from extreme weather could hit $5 trillion -Lloyd’s
“The global economy is becoming more complex and increasingly subject to systemic threats,” said Trevor Maynard, executive director of Systemic Risks at the Cambridge Centre for Risk Studies London: Global economic losses could reach $5 trillion under a “plausible...
Climate change may make India and the Indus Valley too hot for up to 2.2 billion: Study
Results of the study indicate that if global temperatures increase by 2 C above pre-industrial levels, the 2.2 billion residents of Pakistan and India’s Indus River Valley, the one billion people living in eastern China and the 800 million residents of sub-Saharan...
Losses from China disasters reach $42 billion in first nine months of 2023
The emergency management ministry unveiled the unprecedented toll wrought on the nation of 1.4 billion by calamities that ranged from sandstorms to rains that brought massive flooding and historic rainfall in Beijing, the capital BEIJING: China suffered direct...