Tag: Climate Change

June 20, 2022

The “green transition” to renewable energy is expected to create inflationary pressure over the next decade. And the faster renewables are adopted, the worse this problem is expected to become in the medium term. However, according to a new forecast […]

May 23, 2022

Insurance firm Swiss Re and banking giant UBS are among five founding buyers of credits from a scheme set up by a Swiss company to drive down the cost of taking carbon dioxide out of the atmosphere. Even with pledges […]

May 17, 2022

Climate change is hurting the insurance industry and only 8% of insurers are preparing adequately for its impact, consultants Capgemini and financial industry body Efma said in a report on Tuesday. Insured losses from natural catastrophes have increased 250% in […]

May 3, 2022

The rise in demand for coal following Russia’s invasion of Ukraine is a setback to reaching a net-zero economy by 2050 but will also help bolster investment in renewable energy, a Bank of England (BoE) policymaker said on Tuesday. Elisabeth […]

April 25, 2022

A group that won a victory over energy major Shell last year with a Dutch court order that it deepen greenhouse gas cuts, has warned the company’s board of possible personal responsibility if it fails to implement the verdict. The […]

April 19, 2022

With the ambition of holding insurance companies liable for their role in climate change action, California Insurance Commissioner Ricardo Lara has released a new report that details the fossil fuel investments of insurers operating in the state. According to a […]

April 12, 2022

Climate change protesters in London have targeted insurance underwriting house Lloyd’s of London for its role in enabling fossil fuel projects. The City of London Police said they were aware of protests at London’s Liverpool Street Station and the Lloyd’s […]

March 31, 2022

The Lloyd’s re/insurance marketplace announced the next 11 insurtech start-ups that will join the eighth cohort of the Lloyd’s Lab in its 10-week program. Lloyd’s Lab, the market’s innovation accelerator, brings together insurtech, insurers, and brokers to test new, innovative […]

February 4, 2022

Analysts at Goldman Sachs believe that the London Market and re/insurance stocks are debating whether companies are pricing correctly for the increased cost of weather losses due to climate change, or whether companies are basing pricing on historical trends. According […]

January 25, 2022

A group of the world’s largest asset owners managing $10.4 trillion said on Tuesday they would step up their response to climate change and aimed to at least halve carbon emissions from their investment portfolios by 2030. The 69 members […]

January 14, 2022

The Hong Kong Insurance Authority (IA) recently hosted a discussion where insurance professionals shared their predictions on the industry’s participation in initiatives for addressing climate change, noting the emerging opportunities ahead. With climate change remaining as an imminent threat facing […]

January 13, 2022

UK regulator the Prudential Regulation Authority (PRA) has set out its priorities for 2022, which include a renewed focus on the financial risks arising from climate change. The PRA acknowledged that some insurers and reinsurers have made “good progress” in […]

November 16, 2021

Despite some improvements, the reinsurance sector continues to struggle to produce a meaningful return on capital, and as pressure builds on the impacts of climate change and secondary peril losses, there’s a real need for further rate momentum, according to […]

November 4, 2021

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 […]

October 29, 2021

Hilde Vernaillen, the Chair of the International Cooperative and Mutual Insurance Federation (ICMIF), has suggested that the ICMIF’s partnership work with the United Nations Office for Disaster Risk Reduction (UNDRR) has the potential to bring about “real systemic change” in […]

October 4, 2021

The federal government Friday rolled out a flood-insurance program revamped to reflect worsening climate change, a program that will raise rates for millions of homeowners in wealthy coastal areas and humble inland communities alike. The Federal Emergency Management Agency in […]

September 15, 2021

Climate change could push more than 200 million people to leave their homes in the next three decades and create migration hotspots unless urgent action is taken to reduce global emissions and bridge the development gap, a World Bank report […]

August 17, 2021

If you’re having trouble wrapping your mind around the spree of natural catastrophes currently plaguing the world—from deadly July floods in Germany and China to the wildfires still burning in Greece, California and Siberia —you may be interested to know […]

August 9, 2021

Climate change is running away from us, is the stark warning from the Intergovernmental Panel on Climate Change ‘s (IPCC) Report, which was published today. “Many of the changes observed in the climate are unprecedented in thousands, if not hundreds […]

July 8, 2021

Climate change is not expected to impact all forms of investment in insurance-linked securities (ILS) uniformly, according to Twelve Capital, which means for ILS investors and managers, analysing climate exposure, as well as establishing and updating a house view on […]