Global_Drought_and_Flood_Impacts

Monumental Week for Global Drought and Flood Impacts

Globally, the crushing impacts of both drought and flood were felt across the world's economies and regions.

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Investors—including Britain’s Largest—Demand Accountability for Climate Action in the Private Sector: Reuters

Asset managers are stepping up. Legal & General Investment Management (LGIM), Britain’s largest with $1.7TN in assets, is dropping companies with inadequate engagement on climate change and its impacts. LGIM has dropped 13 to date and is looking hard at 130 others for not meeting “minimum standard expectations” for managing their carbon footprints.

Current_mega_drought_in_US-June 2021

Drought Amplifies the Need to Address Water Security at Scale: NY Times

40 million people, including some of the world's largest economic engines, depend on unstable water supplies in the US West. Intermittent rainy years (2010, 2017, 2019) punctuate the current drought. With strategic stormwater capture/groundwater replenishment, the west can build reserves and offset the shortages.

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Inviting Danger: How Federal Disaster, Insurance and Infrastructure Policies are Magnifying the Harm of Climate Change: Brookings

US governmental policies remain adversely designed for exposing homes and businesses to the recurring losses caused by flooding and wildfires. Market forces, normally powerful arbiters of risk, are often blunted by the assumption that these losses, if they happen, will be repaid by the government— a phenomenon known as the “FEMA put”. This cycle reinforces…

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Regulators to Firms-Own Up To Climate Risks: The Economist

Get a handle on your firm’s vulnerability to physical climate risks; regulators (and investors) increasingly require it. Mandatory climate-related disclosures are gaining traction globally. Understanding future financial risks using the Task Force on Climate-Related Financial Disclosures (TFCFD) reporting standard includes carbon footprinting and climate-risk management.“Regulators like it because it focuses on material risks rather than…

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Climate. Risks. Matter.

2020 heaped misery upon misery. But from beneath the weight of global pandemic, racial injustice, political animosity, and democratic instability, strong, heartening signals delivered an unequivocal message: Climate. Risks. Matter. Climate risks have mattered to many for forty years. In 2020, Big Finance joined its powerful voice.In January 2020, the World Economic Forum, alongside Marsh…

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An Expanding Pool–Investors Start To Pay Attention To Water Risk: The Economist

"At current rates of consumption, the demand for water worldwide will be 40% greater than its supply by 2030, according to the UN. Portfolio managers are realising that physical, reputational and regulatory water risk could hurt their investments, particularly in thirsty industries such as food, mining, textiles and utilities. One worry is that shocks to…

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Protecting Low-Income Communities Through Climate Insurance: InsuResilience Investment Fund

"Poor and vulnerable people in developing countries are hit hardest by climate change, whilst being least prepared to cope with its consequences. Climate risk financing and insurance is an effective and reliable way to reduce the vulnerabilities of individuals to climate shocks, enabling them to better absorb and recover from the financial burden of extreme…

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U.K.’s Experiment With Climate Reporting Is Worth Watching: WSJ

“Companies [in the U.K.] and money managers face new environmental requirements that could bring write-downs but also clarity on risks. From next year, many U.K. companies and funds will have to report how their assets and organizations will affect and be affected by global warming. The new rules...are in line with 2017 recommendations from the…

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Slower Decay of Landfalling Hurricanes in a Warming World: Nature

"Over the past 50 years the [time on land of] North Atlantic landfalling hurricanes has increased by 94%. This increase is primarily fuelled by the enhanced stock of storm moisture supplied by warmer oceans. [These] findings have direct implications for the damage inflicted by landfalling hurricanes in a warming world. Even when the intensity at…