Another rating agency S&P has said the catastrophic flash...
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Innovative Climate risk insurance: PCRIC and WTW renew covers for 6 Pacific island nations
For 2024 and 2025, PCRIC now provides insurance for tropical...
Deadly Spain floods show difficulty of adapting to intense rains
An extremely hot Mediterranean and warmer air temperatures...
Trend of above-average hurricane seasons expected to continue this year: Allianz
“There is no clear scientific consensus on whether climate change will result in a net increase in the frequency of tropical storms,” explains Bastian Manz, Senior Climate Risk Analyst at Allianz Re London/New York/Singapore; The hurricane season in the Atlantic basin...
Supecyclones may have much more devastating impact in India in future: Study
The study, published in the journal Climate Resilience and Sustainability, showed that if greenhouse gas emissions continue at the current rate, more than two and a half times (250 percent) of India's population would experience flooding of greater than one meter,...
Govt to promote development of climate resilient structures under MNREGA: officials
The move is aimed at strengthening the planning of climate resilient works and help India become a net-zero carbon emission country in the coming years.It will also help the community to make smart decisions to mitigate the effect of change in the environment, the...
Munich Re’s raises $ 1.25 bn of green bond from US market
The bond has a coupon of 5.875% and matures in 2042 Christoph Jurecka,CFO, Munich Re said,`` In structuring this bond as a green bond, we are the first European insurer to break such new ground in this market segment. At the same time, the green bond supports the...
Moving to ‘preparedness for recovery’ key to tackle climate change impact: PK Mishra
P K Mishra,Principal Secretary to the Prime Minister ''In India, for the first time, in the country's disaster risk management financing architectures, we have created a specific window for financing reconstruction and recovery, with USD 7.5 billion over five years,''...
UK climate stress test for banks, insurers is the toughest yet: Fitch
Non-life insurers and reinsurers are exposed to physical risk through property and catastrophe losses, which are becoming more frequent and severe due to climate change Life insurers are more exposed to the transition risk that affects the assets in their investment...
Climate change boosted cost of Japan storm by $4 Billion, study shows
The research on extreme weather in Japan is the latest assessment of how inaction on curbing fossil fuel emissions is rapidly accelerating the cost of recovery and insuring people and property in the paths of more destructive storms The effects of human-caused climate...
Financial risks of climate change overplayed, senior HSBC banker says
Beau O’Sullivan, senior campaigner on the Bank on our Future campaign, called the comments “regressive and grossly flawed,” adding climate change posed a material risk to financial assets Central bank policymakers and other global authorities are exaggerating the...
Farmer sues VW over climate change; German court has doubts
“Farmers are already being hit harder and faster by climate change than expected,” he told reporters this week, alleging that VW as the world's second-biggest automaker has contributed to the damage A court in Germany cast doubt on Friday on claims by a German farmer...
SCOR to stop covering new oil field production projects from 2023
To double the coverage for low carbon energies by 2025 SCOR has a longstanding commitment to fighting climate change, undertaking numerous actions to help reduce greenhouse gas emissions and facilitate the just transition to a low carbon economy Paris: During the...