climate change risk News

Bank of England Governor Warns Investors Failing to Consider Climate Risks

Bank of England Governor Mark Carney said he’s concerned investors aren’t doing enough to assess threats that global warming will have on assets they purchase. The central bank governor who also leads the Financial Stability Board advising the Group of …

G20 Task Force Develops Climate-Related Financial Disclosure Framework Supported by Insurers

A global task force set up by the G20 has developed a voluntary framework for companies to disclose the financial impact of climate-related risks and opportunities, drawing support from more than 100 companies with $11 trillion of assets. There are …

Companies May Soon Be Required to Disclose Financial Impact of Climate Risk

Companies’ disclosure of risks to their business from climate change could become mandatory in a few years as investor pressure gathers pace, climate finance experts said on Tuesday. Investors have urged companies, particularly those operating in the oil, gas and …

Insurers, Banks & Pension Funds ‘Must Address’ Climate Risk Exposures

The world’s insurers, banks and pension funds are “inherently susceptible” to threats from climate change and must make adjustments, from shifting investment toward environmentally friendly industries to revamping strategies to reduce risk, said the Global Risk Institute. “Climate change is …

Swiss Re & Partners Unveil Initiative to Speed Economic Recovery After Cat Event

Swiss Re Corporate Solutions Ltd. and Veolia have joined forces, under the auspices of The Rockefeller Foundation, to launch an infrastructure recovery initiative to speed up economic recovery in the aftermath of catastrophic events for cities across the globe. The …

Insurers Unprepared for Costs of Climate Change, Warns UN Climate Diplomat

Insurers are unprepared for the costs of climate change, the top United Nations climate diplomat said as world leaders make final preparations for a deal on global warming. The agreement, which the UN expects to seal in Paris in December, …

As Climate Talks Resume, Divisions Between Poor & Rich Nations Highlighted

Just days before global negotiators were set to meet for talks on climate change, Tropical Storm Erika killed at least 20 people on Dominica. The small Caribbean island evoked the tragedy to highlight divisions between industrialized nations and developing economies …

Commentary: Have We Learned the Right Lessons From Sandy?

One year ago, Hurricane Sandy slammed into the New York and New Jersey coasts. As a result, 43 people died, lower Manhattan was dark for days, and seven hospitals had to be evacuated.In New York and New Jersey, 650,000 houses …

Conn.-Based Insurers Now Required to Participate in NAIC Climate Risk Surveys

Connecticut Insurance Commissioner Thomas Leonardi today announced that Connecticut-based insurance companies will now be required to complete the annual Climate Risk Survey that was initially adopted in 2009 as a voluntary report by the National Association of Insurance Commissioners (NAIC). …