Climate change risks News

Sustainable Re/Insurance Industry Vital in Uncertain World: Swiss Re’s Ojeisekhoba

Following Hurricane Katrina in 2005, former U.S. Vice President Al Gore described it as “the first taste of a bitter cup that will be proffered to us over and over again.” That devastating event killed more than 1,800 people and …

Europe’s Banks Move to Greener Finance in Response to Climate Change Risks

Some of Europe’s largest banks are unveiling plans to lend and manage money in greener ways as pressure mounts to account for risks associated with climate change. “It is coming, it’s a trend that’s started,” said Louis Douady, head of …

Climate Change Lawsuits a Growing Threat: Opinion

Last month, a group of 10 families filed an action against the European Union at the European General Court, the EU’s second highest court. All claim to have suffered loss from climate change. Specifically, they argue that greenhouse gas (GHG) …

Central Banks Eye Effects of Climate Risks on Oversight of Insurers, Companies: Opinion

Central bankers have been dubbed “masters of the universe” for the tools and powers they have acquired since the financial crisis. Some of them now want to play a more active role in the fight against climate change. Monetary authorities …

Climate Change Worsens Effects of Natural Disasters, Costing Farmers Billions of Dollars

Natural disasters from droughts to floods are costing farmers in poorer countries billions of dollars a year in lost crops and livestock, and it’s getting worse thanks to climate change. Agricultural losses from weather events in developing nations totaled $96 …

Aon Benfield’s Christian Named Chair of ClimateWise, Raising Climate Risk Resilience

Dominic Christian, executive chairman of Aon Benfield International, has been appointed chair of ClimateWise, an organization that aims to help the insurance industry respond to the risks and opportunities of the climate-risk protection gap – the growing divide between total …

Damage to Coral Reefs Accelerating on Rising Sea Temperatures: Report

The risks to coral reefs are accelerating largely due to human activity, with rising water temperatures meaning they now have about 80 percent less recovery time between bleaching episodes than just three decades ago, according to a report in the …

Saving Coral Reefs Requires ‘War’ on Global Warming: Study

Reducing pollution and curbing overfishing won’t prevent the severe bleaching that is killing coral at catastrophic rates, according to a study of Australia’s Great Barrier Reef. In the end, researchers say, the only way to save the world’s coral from …

Rising Sea Temperatures Could Kill 90% of Coral Reefs by 2050: Scientists

There were startling colors here just a year ago, a dazzling array of life beneath the waves. Now this Maldivian reef is dead, killed by the stress of rising ocean temperatures. What’s left is a haunting expanse of gray, a …

XL Catlin Launches $500,000 Fund for Scientists Researching Ocean Risks

XL Catlin has launched a $500,000 fund to support “early career scientists” undertaking research into the changing ocean environment. The XL Catlin Ocean Risk Grants will be awarded to scientists for final year BSc, Masters and PhD research. The fund …