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Tag: climate change


Capital and Risk, Insurance

Droughts, Floods, Other Water-Related Disasters Could Cost Economy $5.6T by 2050

August 29, 2022

Via: Insurance Journal

Worsening droughts, storms and torrential rain in some of the world’s largest economies could cause $5.6 trillion in losses to GDP by 2050, according to a report released Monday. This year heavy rains have triggered floods that inundated cities in […]


Capital and Risk, Insurance

ECB Climate Stress Test Highlights $71 Billion Risk for Euro Zone Banks

July 8, 2022

Via: Insurance Journal

A sudden jump in carbon prices coupled with floods and droughts this year would lead to losses of at least 70 billion euros ($71.1 billion) for the euro zone’s largest banks, the European Central Bank said on Friday. The ECB […]


News

Goldman Sachs Vows to Push Directors for More Climate Disclosure

March 28, 2022

Via: Insurance Journal

Goldman Sachs’ big asset-management arm will take a harder line in voting on directors at companies that do not disclose enough about their greenhouse gas emissions, an executive said on Thursday, adding to the pressure on business leaders to provide […]


Capital and Risk, Insurance

Swiss Re to Reduce Cover for Oil, Gas Operations

March 18, 2022

Via: Insurance Journal

Swiss Re, the world’s second biggest reinsurer, said it would increase the number of oil and gas producers for which it refuses cover, following mounting pressure on big business to help the drive to curb a global temperature rise. In […]


Capital and Risk, Macroeconomic

Biden: ‘My Effort to Combat Climate Change Is Not Raising the Price of Gas’; Sen. Toomey: ‘Unbelievable’

November 24, 2021

Via: CNSNews.com

President Biden on Tuesday took credit for the supposed strength of the U.S. economy — “the strongest economic recovery in the world,” he called it. But he also said don’t blame him for the “painful” spike in gasoline prices. Higher […]


Capital and Risk, Insurance

Risky Business: Climate Change Turns Up Heat on Insurers, Policyholders

November 12, 2021

Via: Insurance Journal

Tony and Jhan Dunn never thought they would leave California, where they grew up, built a life together and planned to retire. But after a wildfire swept through their Northern California town of Paradise three years ago, burning their home […]


News

U.S. Bank Sets Goal to Achieve Net Zero Greenhouse Gas Emissions by 2050

November 10, 2021

Via: Yahoo

U.S. Bank today announced several company-wide commitments to address the impacts of climate change on its business, customers and communities, including: Setting a goal to achieve Net Zero greenhouse gas emissions (GHG) by 2050 Setting a goal to source 100% […]


Capital and Risk, Insurance, Regulations

Insurance Regulators: Mitigation, Solvency Are Keys to Surviving Climate Change

November 4, 2021

Via: Insurance Journal

The United States will not be able to insure its way out of coming climate disasters, but must focus on mitigation and resiliency – along with insurer solvency — to reduce risk and exposure, insurance regulators said Wednesday. Insurance commissioners […]


Capital and Risk, Insurance

U.S. Insurance Regulator Hosting Another Climate Summit

September 23, 2021

Via: Insurance Journal

A report from the Mortgage Bankers Association says there’s little doubt that climate change will impact housing and the housing finance industry, and while just how great that impact will be is as of yet unknown, the authors take a […]


Capital and Risk, Insurance

Germany’s Floods Will See ‘Sizable’ Protection Gap. Could Insurance Demand Increase?

July 22, 2021

Via: Insurance Journal

With an insured price tag of €4 billion to €5 billion (US$4.7 billion to $5.9 billion), economic losses from Germany’s recent floods are likely to be significantly higher, which highlights a sizable insurance “protection gap.” This protection gap – or […]


Capital and Risk, Macroeconomic

Oregon Governor: Illegal Aliens Are ‘The Heart and Soul of Our Culture…The Backbone of Our Economy’

July 6, 2021

Via: CNSNews.com

Oregon Gov. Kate Brown, a Democrat, says the Federal Emergency Management Agency should provide aid and assistance to undocumented families who lose their homes in wildfires. Brown was among the Western governors who joined a conference call with President Biden […]