Climate change poses the biggest long-term threat to the global economy. If no mitigating action is taken, global temperatures could rise by more than 3°C and the world economy could shrink by 18% in the next 30 years, Swiss Re Institute's new Climate Economics Index shows.
The Australian Prudential Regulation Authority (APRA) yesterday released for consultation its draft guidance to insurers, banks and superannuation trustees on managing the financial risks of climate change.
Ping An Insurance (Group) Company of China, the country's biggest insurer in terms of capitalisation, has announced a comprehensive upgrade of green finance activities and the setting of quantitative green finance performance targets.
The Building Stronger Homes Roundtable convened by the Insurance Council of Australia (ICA) and Master Builders Australia (MBA) has recommended reforms to the way codes, standards and land use planning systems promote the resilience of Australian family homes.
China Reinsurance Group and Swiss Re have signed the "Belt and Road" Green Investment Principles (GIP) protocol, becoming the 38th and 39th signatories, announced Mr Ma Jun, director of the Green Finance Committee of the Chinese Society of Finance.
Directors and officers face increased risks from 'grey swan' risks, with shareholders on average losing 26% of value in their holdings in the year following reputation crises caused by such events according to a new report from Aon and Pentland Analytics.
Every degree Celsius rise in global temperature is likely to increase monsoon rainfall over India by about five percentage points according to a new research by the Potsdam Institute for Climate Impact Research (PIK).
Eight in 10 homeowners in Australia show little interest in making their homes resilient to natural disasters according to a new research by Suncorp Insurance.
China will require financial institutions to transition towards green finance as early as possible, to help achieve the country's carbon neutrality goals, reported Reuters.
Environmental risks are becoming an increasingly important credit driver for Chinese insurers as their exposure to climate-related catastrophic events and decarbonisation policies grow, especially for property and casualty (P&C) insurers, says Moody's Investors Service.