India is ranked sixth among countries most affected by extreme...
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Govt and GIC Re are in talks to set up an exclusive mega Pool to reinsure country’s all hydropower plants
N Ramaswamy, CMD, GIC Re ``Currently, due to the huge catastrophic...
14–19 named storms in tropical North Atlantic predicted in this year hurricane season
These numbers are slightly above the long-term average for 1950 to...
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...
Global coal industry expected to layoff over 4 lakh miners by 2035: Report
Climate commitments to phase out coal power generation could accelerate ongoing trends in coal-mining job losses, even as employment in renewable energy and construction now exceeds 50 per cent of total energy employment Dorothy Mei, project manager for the Global...
Climate change damage to infrastructure poses ‘huge’ financial risks
Disasters are causing average losses of $732 billion-$845 billion each year to infrastructure and buildings, equal to 14% of growth in global gross domestic product in 2022, estimated the Coalition for Disaster Resilient Infrastructure (CDRI) Climate-fuelled disasters...
Climate change likely driving early arrival of intense tropical cyclones: Study
The study shows that this seasonal shifting may be related to ocean warming, primarily driven by greenhouse gas emissions. A new study has found that climate change is likely driving the early arrival of intense tropical cyclones. The study, which was published in the...
Climate Change, poor planning make India’s monsoon season devastating
Climate change compounds the phenomenon of weather extremes, said Anjal Prakash, a research director at the Indian School of Business, with both droughts and deluges expected to intensify as the world warms. In the Himalayas, the problem of climate changed-boosted...
Three-quarters of companies globally are not ready for ESG rules: KPMG Report
“Now there will be regulatory and assurance requirements to report accurate information, which raises the bar on controls and processes as well as qualitative statements that will need to be made around the data,” Mike Shannon, Global Head of ESG Assurance at KPMG,...
Metal-mining pollution impacts 23 mn people globally: Study
``Our new method for predicting the dispersal of mine waste in river systems worldwide provides governments, environmental regulators, the mining industry and local communities with a tool that, for the first time, will enable them to assess the offsite and downstream...