Global Insurance Industry Calls for Reducing Carbon Emissions

Paying out billions of dollars here and billions of dollars there has made the global insurance industry a believer in climate change, according to a new study that shows insurance companies are staunch advocates for reducing carbon emissions and minimizing the risk posed by increasingly severe weather events, reports Ken Weiss at the LA Times. “Climate change stands as a stress test for insurance, the world’s largest industry with U.S. $4.6 trillion in revenues, 7% of the global economy,” writes Evan Mills, a scientist at the Lawrence Berkeley National Laboratory. The industry now pays an average of $50 billion a year in weather- and climate-related insurance losses, including property damage and business disruptions, Mills writes  in the journal Science. Such claims have been doubling every decade since the 1980s. Superstorm Sandy, which ravaged the Eastern Seaboard, is just one recent example of the kinds of increasing liability posed by severe weather events in a changing climate, Evans said. Mills added, that the industry has mounted its own increasing efforts to reduce emissions through energy efficiency and investments, concluding that they simply can’t afford not to.

 

Join the swelling numbers of voters TELLING Congress they’ll vote for Clean Energy candidates here: http://signon.org/sign/we-are-the-clean-99?source=c.em.cp&r_by=487176 . This is an ongoing campaign (the next Congressional election is in 2 years!) so please, spread the word. This is how YOU can make a difference.

 Climate change taken seriously by insurance industry, study says. Paying out billions of dollars here and billions of dollars there has made the global insurance industry a believer in climate change, according to a new study that shows insurance companies are advocates for reducing carbon emissions and minimizing the risk posed by increasingly severe weather events. Los Angeles Times

 

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About melharte

Mel (Mary Ellen) Harte is a biologist (PhD) and climate change educator. She co-authored the free online book, COOL THE EARTH, SAVE THE ECONOMY, available at www.CoolTheEarth.US, and writes the CLIMATE CHANGE THIS WEEK column at the HuffingtonPost. Living summers in the alpine Rockies, she is on the frontlines of watching what climate change can do. Her diagnostic digital photographs of wildflowers have appeared in numerous publications.
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One Response to Global Insurance Industry Calls for Reducing Carbon Emissions

  1. cathybell says:

    Reblogged this on Homelandscapes and commented:
    When I was a senior in college, I took a seminar called “Dealing with Natural Disasters” that looked at the power of the insurance industry to change imprudent societal practices–e.g., repeatedly building in floodplains. This is an interesting extension.

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