There’s evidence to suggest that fund managers devoting lots of...
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Climate, Environment, Renewable Energy
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LA wildfire losses can touch $164 billion, report says
Insured losses are estimated at $75 billion.The disaster will...
Europe’s insurers may face new capital rules for climate risk
The goal is “to ensure the continued protection of policyholders...
Heat waves due to climate change have cost world economy trillions so far
The study is among the first to specifically examine how heat waves affect economic output, said senior author Justin Mankin, an assistant professor of geography at Dartmouth It has discovered that from 1992 to 2013, heat waves statistically correlated with changes in...
EU approves effective ban on new fossil fuel cars from 2035
"This deal is good news for car drivers… new zero-emission cars will become cheaper, making them more affordable and more accessible to everyone," Parliament's lead negotiator Jan Huitema said BRUSSELS: The European Union struck a deal on Thursday on a law to...
Fungal infection list launched by WHO flags global health threat
"Emerging from the shadows of the bacterial antimicrobial resistance pandemic, fungal infections are growing, and are ever more resistant to treatments, becoming a public health concern worldwide," said Dr Hanan Balkhy, WHO Assistant Director-General for antimicrobial...
Climate change becomes the number one risk in all geographies: AXA Report
Thomas Buberl, CEO, AXA Geopolitical risks come in second place, overtaking cyber and pandemic risks. 95% of the experts surveyed expect geopolitical tensions to persist and spread throughout the world. As an indirect consequence, energy-related risks are now in...
India suffered income loss of $159 bn in key sectors due to extreme heat in 2021: Report
Suruchi Bhadwal, director for earth science and climate change at The Energy and Resources Institute, said,'' Extreme weather events in our regions have shown that the effects of climate change are increasing, and more and more people are being affected.'' ''The need...
Australian banks may have to rethink mortgages in risk areas -NAB
Ross McEwan, chief executive officer of National Australia Bank Ltd said that as devastating floods become more frequent it raises questions about whether banks will help people buying assets in flood-prone areas and what the cost will be Australian banks may have to...
U.S. Treasury proposes a new rule to collect data on climate-related risks from P&C insurers
U.S. Treasury Secretary Janet Yellen has pressed U.S. financial regulators to make assessment of climate change risks a normal part of their everyday work, including a demand that companies increase disclosures of such risks to investors Treasury said the proposed...
AXIS Capital refuses to underwrite energy, mining and other projects without backing of local indigenous communities
Non-governmental organization Rainforest Action Network (RAN) told Reuters that AXIS was the first North American insurer to adopt such a policy, and believed it set a fresh standard for best practice Two insurers in Europe – Swiss Re and Allianz – mention FPIC in...
Plastic Pollution: Litigation could cost the industry and its insurers $20 billion in US over next 8 yrs, says Report
More than 300 million tons of plastic are produced every year and at least 14 million tons ends up in the ocean where it is ingested by animals and can enter the human food chain, according to the International Union for Conservation of Nature Like climate...
NGT directs Karnataka government to pay Rs 2,900 cr for improper solid, liquid waste management
Award of compensation had become necessary under Section 15 of the NGT Act to remedy the continuing damage to the environment and to comply with directions of the Supreme Court, the bench said. It is high time that the state realises its duty to the law and citizens...