The worst wildfire in Texas history was sparked by a power pole and lines owned by Xcel Energy Inc. that hadn’t been effectively maintained or replaced, according to a state legislative committee report. The pole identified as the cause of …
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 …
Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, a top official at its biggest insurer by assets said. After staying almost flat in the decade to 2020, …
Australian companies and directors could face legal action if they fail to identify and account for nature-based risks, according to a new opinion backed by lawyers and environmental groups, released Thursday. Directors could be held personally liable for breaching their …
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) …
With 46 straight days of 100-degree heat and coastal waters approaching hot-tub temperatures, Miami can seem like a clear example of the costs of a warming world. But analysts at S&P Global Inc. aren’t sweating it. They recently upgraded Miami’s …
A potential downturn in Canada’s housing market and adjusting to rapid increases in interest rates are among the biggest risks to Canada’s financial system this fiscal year, the country’s financial regulator said on Tuesday [April 18]. The Office of the …
In a year marked by yet more climate-linked floods, hurricanes and droughts, governments and companies were forced to look more closely at the financial risks and their exposure to liability. Nowhere was this more apparent than at the U.N. climate …
Pension funds across the European Union would lose billions of euros from their investments in polluting industries without action to mitigate the impact of climate change, the bloc’s first stress test of its kind showed on Tuesday. The European Insurance …
