Vanuatu, one of the small island states that has spearheaded the...
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ADB expands support for Philippines’ Climate Action with $500 million loan
In recent weeks, four strong typhoons impacted the Philippines one...
Rapid increase of Himalayan glacial lakes, NGT issues notice to Centre others
Taking cognisance of a news report showing about 10.81 per cent...
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...
Odisha to prepare disaster management warriors to face calamities: Patnaik
Naveen Patnaik,Chief Minister,Odisha For better impact-based forecasting, the government will set up a telemetric rain gauge in all gram panchayats, the automatic weather stations at block headquarters, and sensors in our river systems. These steps will help us to get...
Fitch rates its first natural disaster clause Sovereign Bond
`On 20 October we assigned a rating of ‘B’ to Barbados’s US dollar-denominated global bonds maturing on 1 October 2029. The issue includes provisions for payments to bondholders to be deferred for up to two years in the event of a pre-defined natural disaster. This is...
Cyclone Sitrang: IMD issues advisory, suspends offshore activities in north Bay of Bengal
“Due to the cyclonic storm over West Central Bay of Bengal and adjoining East Central Bay of Bengal and its likely intensification into a severe cyclonic storm, fishermen are advised not to venture into the sea till 25th Ocober’2022,” IMD’s statement said. Kolkata: In...
Natural disasters cost global economy over $227 billion till Q3 2022: Aon Cat Report
Michal Lörinc, head of catastrophe insight in Aon’s Impact Forecasting team, said: “It is anticipated that there will be robust loss development across many of the reported natural catastrophes, especially with the realization of costs associated with recent tropical...
Hurricane Ian fallout will test Cat Bond investor appetite
Cat bonds are approximately 30% of the ILS market. Commentary from the Monte Carlo Rendezvous 2022 indicated a pipeline of ILS deals of $5 bil. of additional reinsurance capacity, which would benefit insurers facing a hardening market New York: Reinsurers facing...
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...
Drones-manufacturer Garuda Aerospace signs MOU with NDRF
Garuda Aerospace, in a statement here, said the company has become the first start-up to be enlisted as a 'drone-as-a-service' partner for the NDRF Chennai-based drone-maker would deploy the quadcopter named 'Droni' for surveillance, monitoring movements and...
Sikkim working on new disaster risk reduction framework: CM
Prem Singh Tamang, Chief Minister,Sikkim ''The state government is continuously working together with all the Himalayan states and other stakeholders to establish a new disaster risk reduction framework for the region in order to deal with natural disasters,'' said...