The goal is to protect companies and jobs from the damage that major events such as pandemics can cause, Finance Minister Bruno Le Maire said in a statement. A working group consisting of lawmakers and industry representatives came up with a range of solutions on developing insurance coverage for such catastrophes, and Le Maire sought public comment on its proposals to inform the government’s work on the issue

Dam collapse in China could point to a ‘black swan’ disaster

Jul 22, 2020

But climate change is bringing a new normal of extremes and flood-risk policies decided a decade or two ago are no longer sufficient, said Benjamin Horton, director at the Earth Observatory of Singapore.

“What really needs to happen is to work with the ecosystems,not against them by building dams,by extending flood wetlands and flood plains and allowing the water to naturally mix with the environment,”he said.

EU makes world’s biggest ‘green recovery’ pledge – but will it hit the mark?

Jul 22, 2020

The money represents a 30% share of a mammoth package, comprising a 1.074 trillion euro EU budget for 2021-27 and a 750 billion euro coronavirus recovery fund. Leaders also agreed that even those parts of the overall package not specifically earmarked for climate spending must “do no harm” to the EU’s goal to become climate neutral by 2050.

China offers more financial support for flood-hit areas

Jul 21, 2020

Separately, the CBIRC urged insurers to properly perform investigations and claims settlement and arrange financial resources in advance to help flood-hit companies and people resume production and normal lives in a timely manner.Large parts of China were reeling on Friday from the worst floods in decades, which destroyed homes and affected millions of people.

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