The World Bank is advising South Africa’s National Treasury on a climate risk strategy after floods in recent years caused billions of dollars of damage. The country may take out climate insurance or establish a contingency fund to deal with …
Insurance broker Aon plc has launched its Climate Risk Monitor, a tool that helps clients visualize and understand their exposures to physical climate risk in order to enable better business decisions. The property insurance market is increasingly influenced by climate-related …
Central bankers said on Tuesday they have broken new ground by using artificial intelligence to collect data for assessing climate-related financial risks, just as the volume of disclosures from banks and other companies is set to rise. The Bank for …
Australia’s worsening climate change may see insurance companies and banks withdraw their services from communities vulnerable to extreme events, potentially triggering “cascading effects” across the economy, a new government report warned. The government released its first National Climate Risk Assessment …
The US government is stepping away from its effort to collect data on home insurance prices and availability at the Zip code level as premiums soar and climate risks to property intensify. Instead, it will join in a collaborative effort …
Europe will be 3C hotter even if the world succeeds in limiting global warming to 1.5C above pre-industrial levels, bringing with it the heightened peril of extreme weather and trillions of euros of damages to the economy. Such climactic hazards …
When investors contemplate risk, it’s straightforward to think about measurable economic shifts like rising interest rates, inflation and sales trends. The data are readily available and simple enough to incorporate into financial models. The looming risks from climate change, on …
The Australian government has agreed to settle a class action lawsuit which alleged it had failed to disclose climate change-related risks to investors in the country’s sovereign bonds, court filings showed. The terms of the settlement, if approved by the …
More than 30 investors have called on proxy advisor ISS to improve the guidance it gives to clients wanting companies to decarbonize faster, saying its policies had failed to keep pace with rising climate change risks. Institutional Shareholder Services (ISS) …
Most financial firms aren’t assessing their portfolio exposure to nature-related risks with the same urgency they use to measure climate impacts, a shortcoming that could lead to higher costs, litigation and a hit to reputations, according to a new report. …
