Latest Climate Change Headlines
All the headlines from our Climate Change Topic Page, ordered by recency.
Australia’s Bushfires Could Surpass 2009’s Costly Season; Analysts, Insurers Comment
Jan 10 2020 // Australia’s bushfire season has months to run and could easily surpass the most costly fire season, 2009’s Black Saturday fires in Victoria, which had a price tag of an estimated A$4.4 billion (US$3 billion),...
South Florida Town Starts Resilience Fund to Adapt to Climate Change
Jan 10 2020 // A small ocean-side town in South Florida has created a “resilience fund” that will be used to help residents adapt to climate change in a first-of-its-kind effort. The town of Surfside’s fund will be used...
New York Governor Lays out Aggressive Climate Change Plan
Jan 9 2020 // New York Gov. Andrew Cuomo is proposing an aggressive climate change-fighting campaign for his state that includes a $3-billion bond act that would be put on the ballot this November. Cuomo, who says that money would go to...
Natural Catastrophes Cost $150B in 2019, with Insurers Paying $52B: Munich Re
Jan 8 2020 // Natural catastrophes caused overall losses of US$150 billion during 2019, including insured losses of about US$52 billion, which matches the average of the past 30 years, according to Munich Re’s catastrophe...
Insurance Industry Calls for Action to Mitigate Climate Risk as Australia Bushfires Widen
Jan 8 2020 // As the devastation from Australia’s bushfires widens, the insurance industry is calling for concerted action to mitigate the impact of climate change. Months of out-of-control fires have burnt an area more than five...
Climate Change, Cyber Warfare Risks Are Key London Market Issues for 2020: IUA
Jan 3 2020 // Climate change and cyber warfare risks are two key London market issues highlighted by the International Underwriting Association (IUA) in its business plan for 2020. The association said it is establishing a new market...
Climate Forecast for 2020s Is Warmer, Stormier and More Extreme: Opinion
Dec 31 2019 // Over the last decade, scientists learned a great deal about the climate, much of it concerning the connection between global warming and extreme events — heat waves, hurricanes, floods, droughts and wildfires. There has...
Financial Services Industry Must Act Faster on Climate Change: Bank of England Chief
Dec 30 2019 // Financial services have been too slow to cut investment in fossil fuels, a delay that could lead to a sharp increase in global temperatures, Bank of England Governor Mark Carney said in an interview broadcast on...
Why the Worst Case for Climate Change Doesn’t Look Realistic: Viewpoint
Dec 27 2019 // In recent years, much of the commentary about climate change has gone from sternly serious to wildly despairing. A new report from the United Nation’s Intergovernmental Panel on Climate Change warns that the effects...
Independent Insurance Agent Group Rep Calling Attention to Climate Change Dangers
Dec 19 2019 // A representative for an independent insurance agent group in one state has penned an opinion column calling attention to the dangers posed by climate change. “Going forward, our state remains vulnerable to the...
Calpers: One-Fifth of Public Holdings Exposed to Climate Risk
Dec 11 2019 // About one-fifth of the California Public Employees’ Retirement System public markets portfolio is exposed to potential losses from climate change, the $381 billion pension fund manager reported this week in its first...
Exxon Beats New York Claim of Climate Change Accounting Fraud
Dec 10 2019 // Exxon Mobil Corp. won a closely watched securities-fraud trial that delved into its internal accounting for the financial risks of climate change, a striking rejection of New York state’s claim that the company...
Insurer Estimates $2.5 Trillion Price Tag for 10-Year Fight Against Climate Change
Dec 4 2019 // Fighting climate change will cost companies worldwide nearly $2.5 trillion over the next 10 years, according to an estimate by Allianz SE. The German insurer analyzed the most important measures currently enacted or under...
Directors and Officers Face Significantly Higher Range of Risks: Allianz Report
Dec 4 2019 // The range of risks facing company executives, or directors and officers (D&Os), has increased significantly in recent years along with resulting insurance claims, according to a report published by Allianz Global...
European Investors Urge Big-Four Auditors to Take Action on Climate Risks
Dec 2 2019 // European investors managing assets worth more than 1 trillion pounds ($1.28 trillion) are pressing top auditors to take urgent action on climate-related risks, warning that failure to do so could do more damage than the...
France to Require Insurers, Banks to Run Climate Change Stress Tests in 2020
Dec 2 2019 // France’s financial regulator will subject banks and insurers to climate change stress tests next year, central bank governor Francois Villeroy de Galhau said on Friday. Investors are increasingly putting pressure on...
Coastal Damages from Climate Change Could Cost U.K. Economy Billions by 2050: WWF
Nov 27 2019 // The U.K. economy could face hits of more than 12 billion pounds ($15.4 billion) a year by 2050 from coastal damages alone if no action is taken to combat climate change, according to the WWF. The calculations — made...
Report Urges Insurers to Eye Impact of Climate Change on Underwriting, Investments
Nov 21 2019 // Insurers can no longer put off addressing the impact of climate change on their underwriting, pricing, and investment decisions, as well as their bottom lines, a recent analysis from Deloitte asserts. “The escalating...
Wall Street Taking Closer Look at Climate Change Risks
Nov 15 2019 // In the wake of two years of devastating wildfires in California, Wall Street is incorporating a new risk metric when evaluating companies: climate resiliency. Investors, analysts, research firms and companies are putting...
Hail Has Damaged Insurance Market for Car Dealers. Parametric Insurance May Help.
Nov 14 2019 // Nick Pacifico has been working at his family’s Cadillac dealership in Denver since 2003. He’s never seen insurance costs this bad. “Getting coverage is nearly impossible,” said Pacifico, vice...
