climate risk News

Swiss Re No Longer Offers Re/Insurance to Firms with More Than 30% Coal Exposure

Swiss Re announced it no longer is providing re/insurance to businesses with more than 30 percent exposure to thermal coal across all lines of business. The thermal coal policy applies to both existing and new thermal coal mines and power …

Europe’s Re/Insurers Cut Coal Investments by $20B; U.S. Firms Fail to Act: Report

Insurers have pulled $20 billion out of coal investments, but most are European and none of the top nine U.S. insurers has taken “meaningful action,” campaign group Unfriend Coal said on Wednesday. Government representatives and officials at this week’s U.N. …

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 …

Climate Change Will Raise the Cost of Canada’s Natural Disasters: Insurers

Canada will have to set aside more money to deal with natural disasters like wildfires, storms and floods as climate change starts to bite, the head of the country’s property insurance industry group said on Wednesday. A wildfire sweeping through …

Institutional Investors Ignore Climate Risks Despite Bank of England Warning

The number big investors ignoring climate change risk increased last year despite a stark warning from Bank of England Governor Mark Carney about the potential for “huge” losses from a sudden shift in regulation designed to curb global warming and …

EU Contributes $15.8M to Caribbean Catastrophe Risk Insurance Facility

The European Commission has agreed to contribute €14 million ($15.8 million) so the governments of Central American countries and the Dominican Republic can access to “low cost, high quality catastrophe risk insurance.” The agreement will be executed by the World …

The Nature Conservancy Looks to Address South Florida Climate, Catastrophe Risks

The Nature Conservancy has announced plans to work with catastrophe risk modeling firm RMS, as well as with the Global Disaster Preparedness Center and others, in an effort to address climate impacts in South Florida. The global conservation organization said …

Supply Chains Thwart Climate Risk Management for 75 Major Companies: Report

Goldman Sachs Group Inc., Coca-Cola Co. and 73 other companies that together buy more than $2 trillion of goods and services are unprepared for climate shocks because suppliers are ignoring requests for data on their exposure to rising temperatures and …