Category:

Disaster & Management

Climate change bigger economic risk than Pandemic, ECB’s Schnabel says

With climate change posing an even bigger risk, the ECB must keep this issue high on its agenda as it reviews its policy framework, Schnabel told Reuters in an interview.

“Climate change is probably the biggest challenge we are facing, much bigger than the pandemic,” Schnabel said.

“Even though this health shock was entirely unrelated to monetary policy, it nevertheless has huge implications for monetary policy,” she said. “The same is true for climate change and this is why central banks cannot ignore it.”

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Global COVID-19 cases cross 25 million as India sets grim record

The official number of global coronavirus cases is now at least five times the number of severe influenza illnesses recorded annually, according to World Health Organization data.

Around the world, there have been more than 840,000 deaths, considered a lagging indicator given the two-week incubation period of the virus. That has exceeded the upper range of 290,000 to 650,000 annual deaths linked to influenza.

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Climate change to drive large future Cat losses

It’s a mess at least partially of our own making, said Susan Cutter, director of the Hazards and Vulnerability Institute at the University of South Carolina.

“We are seeing an increase of intensity of these phenomena because we as a society are fundamentally changing the Earth and at the same time we are moving to locations that are more hazardous,” Cutter said Wednesday.

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