A virtual field visit to the Kenya Meteorological Department follows a meteorologist as he explains and demonstrates the use of a radiosonde.
Courtesy: World Meteorological Organization, March 2021
HIGHWAY Project – Tanzania Virtual Field Visit
A virtual field visit to Tanzania follows a Beach Management Unit chairman who explains his role on the lake, and how he disseminates weather warnings should they arise. The project ended in March 2021.
Courtesy World Meteorological Organization, March 2021)
Saving lives on Lake Victoria (Short version)
The High impact weather Lake System Project, or HIGHWAY, is a 4,500,000.00 GBP project under the Weather and Climate and Information Services for Africa (WISER) programme.
Funded by the UK Department for International Development (DFID), the aim was to enhance the resilience of African people and economic development to weather and climate related shocks, with an initial focus on the Lake Victoria Basin (LVB).
The LVB is the lifeblood of East Africa supporting approximately 25 percent of the population. The people and economy heavily depend on rain-fed agriculture and fish industries in this basin. On average, 3,000-5,000 deaths occur each year due to navigation accidents caused by strong winds and waves, and there were no regional, operational weather warning systems in place to protect the safety of those exploiting the natural resources of the LVB.
The HIGHWAY project has now come to an end. This video highlights the project achievements over the five years to March 2021.
Courtesy of the World Meteorological Organization, March 2021.
Major corporations told to agree climate risk reporting rules
Speaking at a conference held by the Taskforce for Climate-related Financial Disclosures (TCFD) in Tokyo, Mark Carney said that demand for climate risk reporting is now “enormous”.
He warned that the UK and EU have signalled their desire for mandatory TCFD disclosures, and urged companies to use the next two reporting periods to make sure they are ready.
“The TCFD needs to reach a definitive view of what counts as a high-quality disclosure before they become mandatory,” he explained.
“In my view, the next two reporting periods should balance the urgency of the task and the imperative of getting it right.”
The TCFD published recommendations for companies looking to disclose climate risks in 2017, and support has skyrocketed ever since.
Organisations backing the TCFD now control balance sheets totalling $120trn (£98trn), and include some of the world’s largest pension funds, insurers, banks and asset managers.
Four-fifths of the top 1,100 global companies are now disclosing climate-related financial risks in line with at least some of the TCFD recommendations.
However, Carney warned that more is required from the private sector, and said that businesses, banks, insurers and investors must increase the quantity and quality of disclosures.
He also urged stakeholders to refine disclosure metrics to determine which ones are most useful, and spread knowledge on how to assess strategic resilience.
Moreover, he called on investors to disclose the extent to which portfolios are ready for the transition to a net zero carbon economy.
Joanne Etherton, climate finance lawyer at ClientEarth, said that the materiality of climate risks is “beyond doubt”, and that firms must now prove resilience to their investors.
“Carney is crystal clear that companies must raise their game on climate-related reporting,” she continued.
“The TCFD framework is the global industry standard, and to fulfil clear investor and regulatory demands, and companies’ own legal duties, it’s hard to imagine a credible excuse not to use it.
“To get ahead of inevitable regulatory trends and investor pressure, companies urgently need to align their strategies to Paris Agreement goals. Disclosure is an essential first step.
Source: The Actuary
Electric Vehicle Outlook 2019
Bloomberg New Energy Finance (BNEF) estimates that EVs will add 6.8% to global electricity consumption in 2040, and that they will drive a surge in EV lithium-ion battery demand from 151 gigawatt-hours in 2019 to 1,748GWh in 2030. New mining capacity for all battery materials will need to come online to avoid this causing a supply crunch. Continue reading “Electric Vehicle Outlook 2019”
Phase out greenhouse gas emissions by 2050 to end UK contribution to global warming
The UK can end its contribution to global warming within 30 years by setting an ambitious new target to reduce its greenhouse gas emissions to zero by 2050, the Committee on Climate Change (CCC) says today. Continue reading “Phase out greenhouse gas emissions by 2050 to end UK contribution to global warming”
New pension rules inadequate to protect savers from climate change risks
New pension rules requiring providers to disclose environmental, social and governance (ESG) considerations are “not enough” to protect savers from the risks posed by climate change, according to the chief executive of the UK Sustainable Investment Forum (UKSIF), Simon Howard. Continue reading “New pension rules inadequate to protect savers from climate change risks”
BlackRock: Investors are underpricing the impact of climate-related risks
New Report Examines the Physical Risks Associated with Climate Change on Municipal Bonds, Commercial Real Estate and U.S. Utilities
Integrating Sustainability Factors into Investment Research Process is Critical to Risk Management
New York, April 4, 2019 – Investors are underpricing the impact of climate-related risks, including more frequent and intense extreme weather events, and need to rethink their assessment of asset vulnerabilities, according to a new report by the BlackRock Investment Institute. Continue reading “BlackRock: Investors are underpricing the impact of climate-related risks”
Jebi officially the largest Japan typhoon insured loss ever
by Artemis on November 22, 2018
Typhoon Jebi has now officially become the largest Japan typhoon related insurance and reinsurance market loss on record, as the amount of insured claims paid for the storm have now reached almost $5.2 billion.
Typhoon JebiThe latest data from the General Insurance Association of Japan (GIAJ) shows that typhoon Jebi has now resulted in a massive 825,091 accepted insurance claims, 108,928 from automobiles, 694,310 from property fire insurance policies and 21,853 from other miscellaneous lines of business. Continue reading “Jebi officially the largest Japan typhoon insured loss ever”
Swiss Re sees $500bn global property & mortality protection gap opportunity
Global reinsurance firm Swiss Re has newly identified an enormous $500 billion global property (catastrophe and non-catastrophe) and mortality risks protection gap, saying that this is an opportunity for insurance and reinsurance markets to boost global resilience.
Of course we’d also say that such a gap is an opportunity for the capital markets and insurance-linked securities (ILS) funds, given the appetite to invest in insurance and risk-linked assets. Continue reading “Swiss Re sees $500bn global property & mortality protection gap opportunity”
Of course we’d also say that such a gap is an opportunity for the capital markets and insurance-linked securities (ILS) funds, given the appetite to invest in insurance and risk-linked assets. Continue reading “Swiss Re sees $500bn global property & mortality protection gap opportunity”