Global banking regulators on Monday agreed to intensify efforts to better understand the financial risks posed by climate change amid pushback from the United States. The oversight body of the world’s forum for banking regulators met on Monday to take …
The acting chair of the U.S. Securities and Exchange Commission on Tuesday signaled the regulator may roll back a controversial rule requiring thousands of public companies to disclose the threats their businesses face from risks related to the climate and …
Europe’s insurance watchdog has called for a recalibration of capital requirements to reflect rising climate-driven disasters across the continent. The European Insurance and Occupational Pensions Authority is recommending the industry update the way it accounts for natural catastrophe risks in …
German watchdog BaFin said the country’s financial industry needs a better grasp of physical risks stemming from climate change because of the increasing impact of events such as floods and droughts. Banks often don’t have data on where their clients …
A recent survey reveals that a 80% of New York City residents feel their city is unprepared for climate-related risks. The survey, conducted as part of new Economist Impact research supported by global multiline insurer Zurich Insurance Group, highlights significant …
The US Congress passed the Coastal Barrier Resources Act in 1982 to preserve relatively undeveloped waterfront areas as natural buffer zones. At least 1.4 million acres along the Atlantic and Gulf coasts were made ineligible for the kind of federal …
Global banking regulators have approved templates for banks to disclose their exposure to crypto assets from January 2026, they said on Wednesday [July 3], a year later than originally indicated. “These disclosures aim to enhance information availability and support market …
Major investors in Australia aren’t responding fast enough to rising threats to infrastructure and other assets from cyclones, floods and other natural disasters, according to a group focused on climate risks. Extreme weather events in the nation in recent years …
The World Bank is advising South Africa’s National Treasury on a climate risk strategy after floods in recent years caused billions of dollars of damage. The country may take out climate insurance or establish a contingency fund to deal with …
Insurance broker Aon plc has launched its Climate Risk Monitor, a tool that helps clients visualize and understand their exposures to physical climate risk in order to enable better business decisions. The property insurance market is increasingly influenced by climate-related …
