“I’m sure the regulators globally are looking at this. There is...
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Major global IT outage grounds flights, hits banks and businesses around the world
A global tech outage that appeared to be related to issues at...
World Bank eyes first ‘drought’ bond in next 12-18 months
“We would love to do something in the drought space, that is...
Natural disaster H1 insured losses hit a 10-year high of $42 billion
Floods in Europe since last week have likely caused $2-3 billion in reinsurance losses, analysts say. read more
Natural disasters were responsible for around 3,000 deaths globally in the first half, with 800 fatalities from the heatwave which hit parts of Western Canada and the U.S. Pacific Northwest in late June.
World Bank signs $125 million to support Resilient Kerala Program
The Resilient Kerala Program will focus on two key areas.
First, it will incorporate disaster risk planning in the master plans of urban and local self-governments to ease financial constraints on the state government when faced with unexpected shocks. Second, it will help make the health, water resources management, agriculture, and road sectors more resilient to calamities.
World Bank provides $185million to Jamaica in storm protection
Dr The Hon. Nigel Clarke, Minister of Finance and the Public Service, Government of Jamaica, said, “The Government of Jamaica has strategically prioritized Disaster Risk Financing to mitigate the adverse fiscal impact of tropical cyclones and natural disasters, thereby strengthening Jamaica’s economic resilience. We are pleased with the successful placement of this catastrophe bond, which adds an indispensable layer of disaster risk financing that complements our multi-layered approach. In this transaction, Jamaica benefited from the vast technical resources of the World Bank, and from the strength of its balance sheet. We are also grateful to our bilateral partners, the Governments of the United Kingdom and Germany, through the Global Risk Financing Facility, and to the United States through the United States Agency of International Development who provided financial support for the transaction.”
Final settlement for Brazil’s Samarco dam disaster could reach $19 bln, governor says
That estimate is nearly four times higher than an initial deal struck with mining companies in 2016, which created a foundation to implement reparations and temporarily froze lawsuits relating to the incident. “The expectation is that the agreement is around 100 billion reais,” Romeu Zema, governor of Minas Gerais, told Reuters in an interview late on Friday.
15 dead in house collapses as heavy rains pummel Mumbai; local train services suspended
The rain fury reminded some Mumbaikars of the the 24-hour rainfall figure of 944 mm on July 26, 2005.The India Meteorological Department (IMD) has issued a red alert for Mumbai in the backdrop of heavy rains, a BMC official said.
Rain fury claims 30 lives as fifth thunderstorm in a month batters Mumbai
Meanwhile, the flooding in the water purification complex at Bhandup affected the water supply in most parts of the metropolis, a BMC official said. The flooding has affected electrical equipment that controls the pumping and filtration processes there, one of the major sites of water supply to the country’s financial capital, following which the BMC asked citizens to boil water before drinking.
Facebook, others ‘killing people’ by carrying COVID misinformation, says Biden
US President’s comments came a day after US Surgeon General Vivek Murthy declared misinformation about the vaccines a threat to public health, and as US officials advised that deaths and serious illness from the virus are almost entirely preventable because of the vaccines.
Biden, asked if he had a message for platforms like Facebook where false or misleading information about the coronavirus vaccines has spread, told reporters, They’re killing people.
The only pandemic we have is among the unvaccinated,” he said.
Flooding affects parts of Europe after heavy rainfall
German government spokesman Steffen Seibert described the images from regions hardest hit by flooding as “terrible”.
“Even though not every event, not every flooding or local incident, is related to climate change, many scientists tell us that the frequency, the intensity and the regularity with which this happens is a consequence of climate change,” Seibert said.
Innovative technologies required to douse Jharia coal fire: official
”The government is very much concerned about the safety of humans living in the coal-bearing areas in Jharia and Raniganj.
”The companys (Coal India’s) top priority should be to douse fire in Jharia by introducing new technologies,” said Additional Secretary, Ministry of Coal (MoC), Vinod Kumar Tiwari here as per a statement from CCL.
Time running out for countries on climate crisis front line
The Secretary-General reminded that the climate impacts we are seeing today – currently at 1.2 degrees above pre-industrial levels – give the world a glimpse of what lies ahead: prolonged droughts, extreme and intensified weather events and ‘horrific flooding’.
“Science has long warned that we need to limit temperature rise to 1.5 degrees. Beyond that, we risk calamity… Limiting global temperature rise is a matter of survival for climate vulnerable countries”, he emphasized.