International
How Climate Change Drives Heatwaves and Wildfires
Brutal heatwaves gripped both Europe and the United States last week and are forecast to dump searing heat on much of China into late August. In addition to temperatures spiking above 40 Celsius (104 ...
Global Natural Disasters Cost Insurers $34B in H1 2022: Munich Re
Global natural disasters during the first half of 2022 cost insurers about $34 billion, which covered a little more than half of the overall $65 billion in losses from floods, earthquakes and storms ...
Natural Disasters Cost Insurers $39B During H1 2022, 18% More Than Average: Aon
Insured losses from global natural disaster events were estimated at $39 billion during the first half of 2022, 18 percent higher than the 21st century average of $33 billion, driven by persistent ...
Allianz Notes Rising Business Interruption Costs in Global Claims Report
The number of contingent business interruption claims more than tripled in 2021 as a deep freeze in Texas shut down much of the state's power grid and a fire at a semi-conductor plant in Japan ...
How They Rank: Are High-Emitting Nations Liable for Climate Harms?
Scientists, officials and activists have long called out the inequity in national histories on greenhouse gas emissions with rich nations benefiting and poor ones hurting from global warming, and now ...
Worst-Ever Droughts, Fires Possible in EU: Climate Change Warning
The European Union's executive warned on Thursday that the continent is facing one of its toughest years when it comes to natural disasters like droughts and wildfires because of increasing climate ...
ECB Climate Stress Test Highlights $71B Risk for Euro Zone Banks
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 ...
Europe’s Landmark Test of Banks’ Resilience to Climate Risk Is Softer Than Expected
Europe's landmark test of banks' resilience to global warming was far softer than many lenders had expected, according to people familiar with the matter. Even the toughest hypothetical scenarios in ...