global warming News

After Big Oil Loses Appeal, Climate Suits Appear Headed to California Courts

Big Oil lost a pair of court battles this week that could lead to trials in lawsuits by California cities and counties seeking damages for the impact of climate change. The 9th U.S. Circuit Court of Appeals rejected arguments by …

Report: Financial Community Sees Climate Risk as Improperly Priced

Climate risk is widely seen in the financial community as being improperly priced. A recent survey with an emphasis on the financial sector shows the overwhelming majority of respondents think that climate risk has only been either partially priced or …

Europe Faces Sweltering Summer with Below-Average Rainfall: Scientists

Europe is set for a sweltering and tinder dry summer this year, posing trouble for farmers, utilities and transportation on inland waterways. That’s the conclusion of scientists at the Copernicus Climate Change Service, who published the seasonal outlook this week. …

Insurers Zurich and Chubb Raise Cover for Canada Oil Sands Pipeline: Filings

Major insurers Zurich and Chubb increased their insurance cover for a Canadian oil sands pipeline over the last year, Canadian regulatory filings show. The Trans Mountain pipeline, which ships types of crude oil and refined products to British Columbia from …

Complex Financial Products Aren’t the Solution to Climate Change or Pandemic: Opinion

Almost exactly four years ago the World Bank announced a pioneering project, the Pandemic Emergency Financing Facility, designed to develop a new insurance market and protect the world’s poorest countries against deadly disease. The PEF, as it’s known, was supposed …

Billions Will Experience ‘Sahara’ Like Heat in Next 50 Years, Report States

Roughly a third of the global population could experience an average annual temperature of 84.2 degrees Fahrenheit (29C) in the next 50 years, with temperatures currently found in small part of the planet, mostly concentrated in the Sahara. That’s the …

Global Temperatures in April Matched Warmest on Record: European Climate Group

Temperatures in April were on par with the previous warmest April on record four years ago, with extremely high temperatures in some parts of Europe, Greenland and Antarctica. Above-average global temperatures meant April was just 0.01 degrees Celsius cooler than …

German Economy Relies on Rhine River – But Levels Are Low Without April Rainfall

Germany’s spring showers haven’t materialized this year, and that’s drying out the country’s most important river, prompting concerns that key industrial goods might have trouble making it to their destination. Typically one of the wettest months, Europe’s biggest economy has …

Rising Sea Levels Could Double Extreme Flooding Events on Coastline, Report States

“Sea-level rise will radically redefine the coastline of the 21st century.” That’s from a new study that shows rising sea levels could lead to extreme flooding events in some U.S. coastal areas doubling every five years. The study published on …

Failure to Act on Climate Change Could Make Weather Risks Uninsurable: Swiss Re

Global warming will lead to growing intensity and frequency of severe weather events, rising losses, as well as greater uncertainty in the assessment of these events by the insurance industry, which could make some weather risks uninsurable, according to a …