Corporate Climate Risk Assessment
Are Pension Funds in Breach?
Mark McVeigh, a 24-year-old environmental scientist from Australia, won’t be able to access his retirement savings until 2055. But, concerned about what the world may look like then, he’s taking action now, suing his $57 billion pension fund for not adequately disclosing or assessing the impact of climate change on its investments. The […]
Governor of the Bank of England Issues Climate Change Warning
The global financial system faces an existential threat from climate change and must take urgent steps to reform, the governors of the Bank of England and France’s central bank warned. Mark Carney, the Bank’s governor, and François Villeroy de Galhau, the governor of the Banque de France, said financial regulators, banks and insurers around the world had to […]
US Judge Halts Drilling Projects in Climate Ruling
In a rebuke of the Trump administration’s ‘energy-first’ agenda, a judge rules greenhouse gas emissions must be considered. A US judge has temporarily halted hundreds of drilling projects for failing to take climate change into account. Read the entire article at The Guardian. Drilling has been stalled on more than 300,000 acres of public […]
Morgan Stanley Issues Warning re Climate Change
While governments and corporations are starting to protect themselves from the impacts of climate change, Morgan Stanley says private businesses need to do more. Read the entire article at AXIOS. What to watch: The investment bank’s strategists are recommending companies strongly consider preparing for a world with more frequent and intense weather events, […]
Insurance Industry Increasingly Concerned about Climate Risks
Major insurance carrier AXA has been surveying risk professionals for five years on their key emerging risks. Climate change has always ranked high. But this year’s survey produced a stunning result: of the 1,235 risk professionals, including 1,060 AXA employees all over the globe, the percentage of respondents pointing to climate change as their key concern rocketed up […]
Corporations Assess Risks / Opportunities in the Age of Climate Change
Bank of America worries flooded homeowners will default on their mortgages. Disney is concerned its theme parks will get too hot for vacationers. AT&T fears hurricanes and wildfires may knock out its cell towers. Coca-Cola wonders if there will still be enough water to make Coke. Read the entire article at Bloomberg. As the […]
