Climate Change News

How Climate Change May Affect Hurricane Risk and Losses: AIR, Brookings, AXIS

By 2050, climate change-related weather events will have a meaningful impact on future hurricane losses, increasing them by 20% or more and in some cases doubling them, even without any increase in the concentration of property exposure along the coast, …

Here’s How European Satellites Can Help Predict the Next Weather Disaster

Spain began the new year battling Storm Filomena, a once-in-a-generation weather event that blanketed Madrid in snow and paralyzed the economy. Health workers were stranded, supermarkets shut, and the army was called in. At least four people died. “Now, consider …

AXIS Capital Decides to Stop Insuring Arctic Oil and Gas Projects

AXIS Capital Holdings Ltd. said it won’t insure oil and gas projects in the Arctic National Wildlife Refuge, becoming the first North American underwriter to make the commitment after pressure from native Alaskans and environmentalists. The move follows similar pledges …

Warming Arctic Is Key to Understanding Climate Change Risks, Experts Say

HONG KONG/BRUSSELS – The environmental transformation happening in the Arctic is key to understanding the potential global impacts of climate change, an Alaska Native leader and a polar explorer told the Reuters Next conference on Monday [Jan. 11]. With climate …

Earth Draws Closer to Climate Change Tipping Points After Another Year of Record Heat

Another year of record-high heat punctuated a decade-long increase in global temperatures that has placed the Earth’s economies dangerously close to climate tipping points. Those are the conclusions published Friday by European Union scientists. Despite pandemic-induced lockdowns of the global …

Cities Are Stepping up Their Own Greenhouse Gas Battles

Long Beach, Calif., this week took a step in a plan to reduce local greenhouse gas emissions. The city council on Tuesday heard an update report on a plan to lessen the expected impacts of climate change, meet state-mandated greenhouse …

Miami Beach Considers Homeowner Grants to Prepare Property for Sea Rise

Miami Beach is exploring a way to help residents cover the cost of floodproofing their properties from heavy rains and high tides made even higher by sea level rise – at least a little. The city is considering offering residents …

Climate Change Poses Much Greater Existential Risk for the World Than COVID-19

Similar to the COVID-19 pandemic, climate change ultimately will be managed by “bending the curve” of temperature rises and greenhouse gas emissions, according to Rowan Douglas, Head of Climate and Resilience Hub at Willis Towers Watson. But that’s where the …

Report: Despite Pandemic-Driven Emission Redux, We’re Headed to 3-Degrees Warming

A new report finds that despite a brief dip in carbon dioxide emissions caused by the pandemic, the world is still heading for a temperature rise in excess of 3°C this century, a mark that is well beyond the Paris …

Lloyd’s Moves to End Insurance and Investments in Coal for Climate Sustainability

The Lloyd’s market is moving to end its insurance of coal and oil sands businesses while at the same time ceasing investments in such carbon-producing assets by Jan. 1, 2022. As part of its plan to accelerate the transition to …