Economic Climate Risk
Page 4
200 Financial Firms Pledge to Disclose Climate Change Business Risks
The 200 institutional investors, insurance giants, and pension funds manage a combined $81.7 trillion. Read the entire article at Business Insider. Over 200 firms pledged to regularly report the risk climate change poses to their business, and make progress on initiatives to reduce their impact on the planet. These reports — much like quarterly-earnings reports — […]
2017 Shatters Records with $306 Billion in Damages from Climate-Linked Disasters
The nation’s third-hottest year on record is now officially its costliest for billion-dollar natural disasters. Sixteen $1 billion-plus weather and climate-related events killed at least 362 people. The United States suffered its worst wildfire and hurricane seasons in modern history, according to a report released Monday by the National Oceanic and Atmospheric Administration. Read the entire article at The Huffington Post. […]
Insurance Giant AXA Divests from Fossil Fuels, Increases Green Investments
One of the world’s biggest financial services companies is both dumping investments and ending insurance for controversial US oil pipelines, taking fossil fuel divestment to a new level. Read the entire article at The Guardian. AXA is also quadrupling its divestment from coal businesses and increasing its green investments fivefold by 2020. The moves […]
Moody’s Warns Cities to Address Climate Risks or Face Downgrades
Coastal communities from Maine to California have been put on notice from one of the top credit rating agencies: Start preparing for climate change or risk losing access to cheap credit. Read the entire article at Bloomberg. In a report to its clients Tuesday, Moody’s Investors Service Inc. explained how it incorporates climate […]
World’s Largest Sovereign Wealth Fund Advises Ditching Oil and Gas Holdings
Energy industry jolted by advice to Norwegian government from its central bank, which runs $1 trillion fund. Read the entire article at The Guardian. The Norwegian central bank, which runs the country’s sovereign wealth fund – the world’s biggest – has told its government it should dump its shares in oil and gas […]
Hidden Costs of Climate Change Running Hundreds of Billions a Year
Read the entire article at the National Geographic. Extreme weather, made worse by climate change, along with the health impacts of burning fossil fuels, has cost the U.S. economy at least $240 billion a year over the past ten years, a new report has found. And yet this does not include this […]
Can Businesses Save the World?
Read the entire article at Ensia. “We are still in.” With these four words a group of U.S. businesses and investors with a combined annual revenue of US$1.4 trillion sent a powerful message to the world: U.S. president Donald Trump may have withdrawn from the Paris agreement on climate change, but corporate America is not […]
The Environment and the Economy: You Don’t Have to Choose
If something is good for the environment, and for people, usually it also makes good business sense. Read the entire article at OZY. Sustainability isn’t just good for the environment, and for our communities, it also makes good business sense. As Head of Property Management for JPMorgan Chase Global Real Estate, I’m responsible for the […]
Why Coastal Insurance Costs are Rising
Read the entire article at Yale Climate Connections. The insurance system has been strained by huge payouts after devastating storms. So many American homeowners in flood-prone areas are facing more expensive insurance premiums. Filer: “Particularly post-Katrina and post-Sandy, now, insurers are going back in and reevaluating the risk and that’s why we’re starting […]
How Climate Change is Impacting the Travel Industry
Read the entire article at Time. National and global transportation systems, and the economic activity they support, have been optimized for the climate in which it all developed: Machines are designed to operate in common temperature ranges, logistical plans depend on historical weather patterns, and coastal land development is based on known flood zones. In […]
