David Burt helped two of the protagonists of Michael Lewis’ book The Big Short bet against the U.S. mortgage market in the run-up to the 2008 financial crisis. Now he’s betting against the market again, but this time, the risk …
The acquisition of California-based Four Twenty Seven, Inc., by Moody’s Corporation could signify the beginning of a major shift in how markets price risks related to climate change. Up until now, these risks largely have been absent from investors’ models, …
One of Britain’s biggest fund managers started selling shares in Exxon Mobil Corp., saying America’s largest oil company isn’t doing enough to address climate change. Legal & General Investment Management, which oversees about $1.3 trillion and is one of Exxon’s …
Europe’s biggest insurers refuse to sell policies to coal miners and arms producers. A Dutch firm may go further by denying coverage to gambling companies and nuclear-power generators. The asset-management arm of ASR Nederland NV already has a list of …
Washington is announcing a goal of retrofitting or removing all of its flood-prone buildings by 2050, the first major U.S. city to set such a policy. The proposal is part of a broader plan to protect Washington, which is home …
Hannover Re announced it is scaling back its exposure to coal-fired power plants and coal mines, joining a growing list of re/insurers that have made similar moves. In addition to excluding coal-based projects from its investment portfolio, Hannover Re said, …
New York Mayor Bill de Blasio proposed a $10 billion plan to push out the lower Manhattan coastline as much as 500 feet, or two city blocks, to protect from flooding that’s expected to become more frequent as global temperatures …
Denmark and Britain are the top countries when it comes to implementing measures to fight climate change, although Britain has lagged in phasing out fossil fuel subsidies, a report published by academics said on Wednesday. The report was launched as …
Munich Re, the world’s biggest reinsurer, will stop investing in bonds and shares of companies that generate more than 30 percent of their sales with coal-related business, its chief executive said, caving to pressure from investors. “In the individual risk …
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 …
