The Bank of England will soon spell out how it wants banks, insurers and investment companies to manage the financial risks from climate change, Governor Mark Carney said on Thursday. The central bank under Carney has been vocal in highlighting …
As the effects of climate change unfold, its impact on business will grow more severe: altered rain patterns will affect agriculture, floods will disrupt supply lines, heat waves will prevent employees from working. If markets are to work well, investors …
Britain’s banks and insurers must come up with credible plans for protecting themselves against risks from climate change and may need to hold more capital, the Bank of England said on Monday. “Financial risks from climate change will be minimized …
Global airport operators, faced with rising sea levels and more powerful storms as the climate changes, are starting to invest in measures including higher runways, seawalls and better drainage systems to future-proof immovable assets. In early September, a seawall at …
Climate-related disclosure is becoming mainstream as more firms support and align their financial reporting to recommendations by a global task force though few disclose the financial impact on the company, a survey shows. The Task Force on Climate-Related Financial Disclosures …
Following Hurricane Katrina in 2005, former U.S. Vice President Al Gore described it as “the first taste of a bitter cup that will be proffered to us over and over again.” That devastating event killed more than 1,800 people and …
Some of Europe’s largest banks are unveiling plans to lend and manage money in greener ways as pressure mounts to account for risks associated with climate change. “It is coming, it’s a trend that’s started,” said Louis Douady, head of …
Last month, a group of 10 families filed an action against the European Union at the European General Court, the EU’s second highest court. All claim to have suffered loss from climate change. Specifically, they argue that greenhouse gas (GHG) …
Central bankers have been dubbed “masters of the universe” for the tools and powers they have acquired since the financial crisis. Some of them now want to play a more active role in the fight against climate change. Monetary authorities …
Natural disasters from droughts to floods are costing farmers in poorer countries billions of dollars a year in lost crops and livestock, and it’s getting worse thanks to climate change. Agricultural losses from weather events in developing nations totaled $96 …
