Money pledges grabbed the spotlight again at COP28 in Dubai on Monday as delegates turned their focus to the yawning gap in the need for climate finance and what’s on offer. The United Arab Emirates, the host of this year’s …
Nigerian floods last year that claimed hundreds of lives also caused up to $9 billion in damage, according to a report from the National Bureau of Statistics. The assessment, conducted in collaboration with the World Bank, placed the cost of …
While wildfires, severe storms and floods cause short-term impacts that often grab the world’s attention, a drought that stretches over seasons or even years can be easier to overlook. Yet a new UN report shows droughts are just as deadly, …
New York Governor Kathy Hochul has requested a major disaster declaration from President Joe Biden to support the ongoing recovery of downstate communities affected by the significant flooding occurring during a two-day period in late September. If granted by the …
Increasing numbers of Australians are abandoning their insurance policies as premiums surge in response to climate-linked natural disasters, the head of the Insurance Council of Australia said. Over a million households now face home insurance affordability stress, Andrew Hall said …
Justin Ralph estimates he`s made about 200 trips delivering grain from the fields he farms with his brother and uncle this year. They`re accustomed to using their four semi-trucks to take the harvest from a total of about 800 acres …
The Federal Reserve Bank of New York announced it will release a nine-part blog series on the economic and financial impacts of extreme weather events in the Federal Reserve’s Second District. Starting November 8, the Liberty Street Economics series will …
The market for catastrophe bonds is one of this year’s best-performing debt classes. It’s also about to see a significant increase in sales as the World Bank, a major issuer, prepares to ratchet up its offering. The lender plans to …
As bond markets everywhere get battered by a cocktail of higher interest rates, deficit angst and hawkish central bankers, one class of debt instrument is handing creditors double-digit returns: catastrophe bonds. Investors in the $40 billion market for so-called cat …
Global economic losses could reach $5 trillion under a “plausible increase” in extreme weather events linked to climate change that cause crop failures and food and water shortages, insurance marketplace Lloyd’s of London said on Wednesday. Lloyd’s, which carried out …
