The record heat and drought hurting European farmers, power utilities and insurers foreshadows even faster change to the continent’s climate, with scientists warning that feedback loops from a drying Earth likely will lead to dangerously high temperatures again this year. …
Zurich Insurance Group AG is leaving a coalition of major insurers that have committed to reach net-zero emissions, the second high profile exit from the group in a matter of days. The Swiss insurer said in a statement that it’s …
Global companies that form alliances to help them to tackle climate change need clear “safe harbor” guidelines from governments to allay fears they could be tripped up by antitrust rules, legal experts said. Hundreds of companies have banded together into …
Munich Re is leaving an alliance of leading insurers that have committed to reduce emissions due to what it says are “material” legal risks, in a move that marks the latest blow to a coalition built by former Bank of …
Britain is “strikingly unprepared” for a changing climate and could face disruptions to energy, food supply, transport and communications infrastructure if it fails to adapt fast, the government’s independent adviser on climate policy has warned. The UK is already experiencing …
Extreme weather caused by climate change could cost Germany up to 900 billion euros [$957.2 billion] in cumulative economic damage by mid-century, a study showed on Monday, as Europe’s biggest economy seeks climate adaptation measures to cut the damages bill. …
Economic losses from natural disasters in 2022 were estimated at $313 billion, with an insurance price tag of approximately $132 billion, according to Aon. Roughly 42% of economic losses were covered by public and private insurance entities, which translates into …
A legislative panel advanced a bill this week that would help local governments plan in advance for climate-related threats to public health such as wildfires, flooding, extreme heat and rapid erosion. The initiative from Democratic state Sen. Liz Stefanics of …
When it comes to climate impacts, the frontline of the finance industry is insurance. Last year’s payout from damages caused by extreme-weather events totaled $120 billion—about the same as the economic output of Kenya. And that’s a 50% increase over …
Australia will experience an increase in extreme heat, intense rainfall and coral-bleaching events, as well as longer fire seasons and more rapidly rising sea levels, according to the government’s chief science and weather agencies. In a dire report released Wednesday …
