Search

Two of Australia's largest pension funds, Rest Super and Hostplus, have increased their investments in securities related to climate change. Rest Super has invested around A$200 million in securities linked to insuring against natural disasters, while Hostplus has invested in a similar strategy. These funds are joining other pension funds in investing in catastrophe reinsurance. The investments include catastrophe bonds, which offer double-digit returns but are facing scrutiny due to concerns about the high bar for payouts. Natural catastrophes have caused significant insured losses in recent years, making these investments attractive to institutional investors. [Extracted from the article]

The British telecommunications regulator, Ofcom, has proposed granting a license to Amazon's Project Kuiper to operate a satellite network that would provide high-speed broadband services. This would create competition for Elon Musk's Starlink. If granted the license, Amazon would be able to offer customers outdoor antennae that can receive broadband services with speeds similar to 4G. Satellite internet services like Kuiper and Starlink are particularly useful in areas that lack access to traditional internet providers, such as rural communities or areas affected by natural disasters. Amazon plans to launch its first satellites by the end of 2024 and offer commercial service the following year. [Extracted from the article]

A new report by risk modeling firm Verisk suggests that urban expansion, property exposure, and climate change could lead to a 40% increase in annual natural-catastrophe losses for the global insurance industry. The projected annual loss could rise to $151 billion, compared to the average annual loss of $106 billion over the past five years. While hurricanes and earthquakes are anticipated to be the largest single events causing losses, severe convective storms, extra tropical storms, wildfires, and floods account for over half of the projected losses. Climate change is expected to have a more significant impact on losses in the coming decades, with higher global temperatures affecting all atmospheric perils. [Extracted from the article]

The worst drought in over 40 years is currently affecting Brazil, putting major crops such as coffee and soybeans at risk. From May to August, key agricultural areas experienced the driest weather since 1981, with no rain in the forecast for at least two more weeks. This lack of rainfall poses a threat to global crop supplies, as Brazil is a major producer of commodities like sugar, coffee, and soybeans. The drought is particularly concerning for coffee production, as the lack of rain may damage buds before they can flower, leading to potential crop losses. Additionally, wildfires have already impacted sugar cane fields and revised down forecasts for sugar production. The dry weather and high temperatures are expected to continue, potentially leading to more wildfires and delays in soybean sowing. [Extracted from the article]

China's central government has announced that it will provide an additional $7 million in natural disaster funds to assist with flood prevention and relief efforts in the province of Liaoning. The funds will be used for various purposes, including rescuing and relocating disaster victims, repairing damaged properties, and eliminating risks. The Ministry of Finance has urged local authorities in Liaoning to promptly allocate the funds to affected areas and prevent any misuse or retention of the funds. The recent torrential rains in Huludao, Liaoning have resulted in 11 deaths, 14 missing individuals, and significant damage, affecting nearly 189,000 people and causing losses of approximately $10.3 billion. [Extracted from the article]

California Governor Gavin Newsom plans to propose legislation that would require oil companies in the state to stockpile gasoline and other fuels in order to prevent supply shortages and price spikes during refinery outages. The governor's plan is aimed at protecting Californians from high pump prices and would have saved consumers up to $650 million last year alone. The proposal comes as part of Newsom's ongoing battle against the fossil fuel industry and follows Chevron's announcement to move its headquarters to Texas. While consumer advocacy groups support the plan, the Western States Petroleum Association views it as a political attack. [Extracted from the article]

Libya's rival governments have joined forces to provide aid to residents in the southeast region after heavy rainfall caused significant damage and displacement. Health authorities have declared a state of emergency, and both the internationally-recognized government and its rival in the east have responded with humanitarian and medical aid. This collaboration is a rare display of unity in a country that has been plagued by disputes and power struggles. Officials are concerned about a repeat of last year's devastating flooding, which resulted in thousands of deaths. [Extracted from the article]

California Governor Gavin Newsom plans to propose legislation that would require oil companies in the state to stockpile gasoline and other fuels in order to prevent supply shortages and price spikes during refinery outages. The proposed reserves would protect Californians from experiencing the high pump prices seen in recent years. The plan is part of Newsom's ongoing battle against the fossil fuel industry and comes shortly after Chevron announced its plans to move its headquarters to Texas. The proposal has received support from the non-profit group Consumer Watchdog, but has been criticized by the Western States Petroleum Association. [Extracted from the article]

California Governor Gavin Newsom is planning to propose legislation that would require oil companies in the state to stockpile gasoline and other fuels to prevent supply shortages and price spikes during refinery outages. The proposed reserves would protect Californians from experiencing the high pump prices seen in previous years. The plan is part of Newsom's ongoing battle against the fossil fuel industry and comes shortly after Chevron announced its plans to move its headquarters to Texas. The proposal is not expected to be popular with the industry, but the state believes it is still an attractive place to do business. [Extracted from the article]

Libya's rival governments have joined forces to provide aid to residents in the southeast region after heavy rainfall caused significant damage and displacement. Health authorities have declared a state of emergency, and both the internationally-recognized government and its rival in the east have responded with humanitarian and medical aid. This collaboration is a rare display of unity in a country that has been plagued by disputes and power struggles. Officials are concerned about a repeat of last year's devastating flooding, which resulted in thousands of deaths. Libya has been in turmoil since the overthrow of Moammar Al Qaddafi in 2011, and attempts to unify the nation have been unsuccessful. [Extracted from the article]

Australian pension funds, such as Colonial First State and Insignia Financial Ltd., are considering investing in natural catastrophe reinsurance to boost returns. This type of investment covers financial products like catastrophe bonds, which reward buyers for taking on insurance market risk linked to natural disasters. The issuance of catastrophe bonds has reached a record high, as the market prepares for a potentially damaging hurricane season. Natural catastrophes have caused significant insured losses in 2024, and as these events become more frequent, more capital will be required to support insurance policies. [Extracted from the article]

China has urged officials to stop playing a popular poker game called "throwing eggs" because it is interfering with their work. The game has become a key way for businesspeople, bankers, and government officials to socialize, but it has been deemed a distraction that corrupts the work style of cadres. This issue highlights President Xi Jinping's frustration with lower-level officials not fully implementing his policies. The game, called guandan, is seen as a way to tap into or improve one's guanxi, a term that describes social circles and connections that can facilitate business deals but can also lead to corruption. [Extracted from the article]

A study published in Nature Climate Change has found that the Coastal Barrier Resources Act (CBRA) passed by the US Congress in 1982 has effectively reduced development in climate risk zones. The CBRA made certain areas along the Atlantic and Gulf coasts ineligible for federal expenditures that would encourage further development, such as infrastructure grants and subsidized flood insurance. The study found that areas designated under the CBRA have significantly lower development densities compared to comparable areas that are not part of the program. The policy has also led to higher property values in neighboring areas due to the flood protection provided by the designated lands. The lead author of the study suggests that similar policies could be implemented in other at-risk parts of the country. [Extracted from the article]

TS Conductor Corp., a startup based in California, has raised $60 million in funding to expand its production capacity and open a second facility. The company manufactures power lines that are more efficient and stronger than traditional wires, making them attractive to utilities seeking to improve their systems' resilience to natural disasters. However, the advanced cables are not widely used and can be more expensive than conventional transmission lines. The need for upgraded power cables is becoming more urgent due to increasing energy demand and the push for electrification. [Extracted from the article]

Natural catastrophes have caused approximately $62 billion in insured losses in the first half of 2024, which is 70% higher than the 10-year average. The United States experienced the most significant losses due to weather catastrophes, including wildfires, droughts, and floods. Munich Re, the reinsurer, suggests that climate change is a contributing factor to these extreme weather events. The total losses from natural catastrophes in the first six months of the year reached $120 billion, with no indication of relief for the rest of 2024. The increasing frequency of severe weather events, such as hurricanes and wildfires, is leading to higher claims payments for insurers and making some regions uninsurable. [Extracted from the article]

A Libyan court has sentenced 12 officials involved in managing dams in the country's east to prison terms ranging from nine to 27 years. The officials were held responsible for the devastating floods that occurred last year, resulting in the deaths of thousands of people. Three of the convicted individuals were also ordered to return money obtained through illicit means. The flooding was caused by Storm Daniel, which caused two large dams to collapse under the strain. The tragedy was exacerbated by political instability, a decade of civil war, crumbling infrastructure, and weak emergency systems. The dams had been neglected and lacked maintenance or upgrades for many years. [Extracted from the article]

Azerbaijan, the host of this year's United Nations climate summit, has decided to abandon plans for a fossil fuel tax and instead create a voluntary fund with a minimum of $1 billion for climate change mitigation projects in developing countries. The proposed Climate Finance Action Fund will rely on voluntary contributions from oil-producing countries and the industry. Once 10 countries pledge a combined $1 billion, the fund will become operational, with revenue from individual projects being reinvested. The money will be used to support renewable energy projects, address the impacts of climate change, and assist in the aftermath of natural disasters. [Extracted from the article]

Hurricane Beryl's recent impact on Texas serves as a warning of the cascading damages that can result from storms. Beyond the immediate destruction, insurance and reinsurance companies are increasingly concerned about the long-term disruptions to productivity, health, and supply chains, which have significant economic costs. Climate change is exacerbating these risks, as wildfires, floods, and storms can damage critical infrastructure and supply chains, leading to lost production time, materials spoilage, and delays in deliveries. Changing weather patterns also mean that areas not historically affected by hurricanes are now vulnerable. The lesson from Hurricane Beryl is that more storms like this can be expected in the future. [Extracted from the article]

The Caribbean Development Bank is working to climate-proof the finances of small island governments in the Caribbean region. The plan includes adding clauses that would allow borrowers to pause payments for at least two years after a major disaster, freeing up money for reconstruction. The bank is also considering delaying payments on the borrowing it uses to finance loans. This move is in response to the increasing frequency and destructiveness of hurricanes in the region. The bank plans to roll out the structure of its plan next year and gradually implement the clauses. [Extracted from the article]

Jamaica's $1.6 billion disaster strategy is being put to the test as Hurricane Beryl approaches the island with winds of over 145 miles per hour. The country has offloaded risk onto credit and insurance markets, including a $150 million catastrophe bond and insurance policies. Other Caribbean nations are also taking steps to protect themselves from climate risks, such as adding clauses to bonds that defer payment in the event of a natural disaster. Jamaica has various contingency plans in place, including a contingency credit, parametric insurance, and access to a precautionary liquidity line. While the country has coverage for about 5% of its GDP, even smaller storms can have an economic impact, particularly on the tourism sector. The storm also poses a threat to Jamaica's economic growth, which has seen 12 consecutive quarters of growth and a decrease in debt-to-GDP ratio. The layers of protection are aimed at preventing the country from falling back into economic instability. [Extracted from the article]

As global warming leads to increasingly hot and humid summers in southern Europe, tourists are seeking cooler destinations in Scandinavia. This trend, known as "coolcationing," has led to a rise in bookings and tourism in countries like Sweden, Denmark, and Norway. Scandinavia offers a wide range of activities, from beach relaxation to hiking and winter tourism. While climate change impacts the entire world, Scandinavia's cooler temperatures and outdoor attractions make it an appealing destination for travelers seeking respite from extreme heat. [Extracted from the article]

The Biden administration is introducing federal standards to protect US workers from heat stress, which would require more breaks, shade, and drinking water for workers in industries such as construction and steel mills. The proposal, set to cover an estimated 36 million workers, aims to address the risks of extreme heat, which is the leading weather-related cause of death in the US. However, the plan falls short of the comprehensive approach demanded by some worker advocates, and it will undergo public comment and agency review before being finalized. The proposed regulation includes provisions for access to drinking water, rest breaks, acclimatization plans, and heat injury prevention measures. [Extracted from the article]

The Hollywood Climate Summit brought together industry professionals and policymakers to discuss the role of the entertainment industry in addressing climate change. US Department of Energy Secretary Jennifer Granholm emphasized the need for accurate portrayals of climate change and stories focused on the energy transition to help the public understand the future. The event also highlighted the challenge of reducing emissions in the entertainment industry, with the average major movie production emitting more carbon per day than the average US vehicle emits annually. While progress has been made in introducing sustainable alternatives on set, addressing climate pollution associated with streaming remains a significant challenge. [Extracted from the article]

Numerous companies in the Mexican state of Tamaulipas, which borders Texas, have been forced to close factories or reduce operations due to a severe drought in the region. This drought is impacting the manufacturing industry, which is a key economic driver for the state. Local authorities in Altamira, a port city known for its chemical companies, have limited water access to some companies in order to prioritize residents. The drought and high temperatures in Mexico are expected to continue, posing challenges for foreign manufacturers looking to operate in the country. [Extracted from the article]

German Chancellor Olaf Scholz visited a flood-hit area in Bavaria to show support for those affected and potentially gain positive attention ahead of the European Parliament election. Scholz emphasized the increasing frequency of extreme weather events and linked them to human-caused climate change. This visit comes after Economy Minister Robert Habeck of the Greens also traveled to the flood region. The contrasting reactions of politicians to natural disasters have historically influenced election outcomes in Germany. Scholz pledged that the federal government will provide quick assistance to those affected by the flooding. [Extracted from the article]

The article discusses the potential for a record-breaking summer in terms of global temperatures and its impact on various commodities. It highlights the rising prices of natural gas, power, and staple crops like wheat and soy. The world of shipping is also expected to be affected, and the risk of destructive wildfires is increasing. The article emphasizes how climate change-driven extreme weather is worsening inflation, increasing the cost of energy, food, and fuel, and heightening the risk of damages and insurance costs. The potential for supply shocks in agricultural markets is also mentioned. The article concludes by discussing the impact of extreme heat on the global economy, power markets, inflation, and oil markets, as well as the potential disruptions to shipping. [Extracted from the article]

The article discusses the potential for a record-breaking summer in terms of global temperatures and its impact on various commodities. It highlights the rising prices of natural gas, power, and staple crops like wheat and soy. The world of shipping is also expected to be affected, and the risk of destructive wildfires is increasing. The article emphasizes how climate change-driven extreme weather is worsening inflation, increasing the cost of energy, food, and fuel, and heightening the risk of damages and insurance costs. The potential for supply shocks in agricultural markets is also mentioned. Overall, the article provides a comprehensive overview of the potential challenges and risks associated with the upcoming summer. [Extracted from the article]

A group focused on climate risks has found that major investors in Australia are not adequately responding to the increasing threats posed by natural disasters such as cyclones and floods. Despite the impact of extreme weather events on infrastructure and assets, a survey of 63 investors operating in Australia with over $23 trillion under management globally found that only 16% had calculated the risk across their entire portfolio, and just 3% were taking any action. The Investor Group on Climate Change emphasized the need for a shift towards adaptation and resilience to protect investments. The economic costs of volatile weather are expected to reach hundreds of billions of dollars in the coming decades. [Extracted from the article]

Mexico is experiencing record-breaking heat as the country prepares for its upcoming presidential election. Mexico City has seen temperatures above 90F (32C) and overnight lows in the 60s, breaking previous heat records. The candidates have acknowledged the extreme weather and have promised to address the threats of climate change. This heatwave is not unique to Mexico, as billions of people around the world are voting in elections during a time of unprecedented global heat. India, which is also in the midst of elections, has seen temperatures nearing 50C (122F). The extreme heat is expected to continue and may lead to power outages, crop failures, and natural disasters. Additionally, Mexico is also experiencing a drought, which has further exacerbated the extreme conditions. However, there is a possibility of relief in the form of tropical moisture and rainfall. [Extracted from the article]

Firefighters have gained control of one wildfire near the main oil-sands region of Alberta, while a larger blaze to the south continues to threaten the area's biggest city. The fire near Fort McMurray, where oil-sands mines produce hundreds of thousands of barrels of crude oil per day, has been downgraded to a smaller size. The larger blaze, which prompted the evacuation of about 6,000 residents, is a threat to almost 3% of the world's crude and condensate supplies. So far, no oil-sands producer has reported operational disruptions. [Extracted from the article]

Firefighters have gained control of one wildfire near the main oil-sands region of Alberta, while a larger blaze to the south continues to threaten the area's biggest city. The fire near Fort McMurray, where oil-sands mines produce hundreds of thousands of barrels of crude oil per day, has been downgraded to a smaller size. The larger blaze, which prompted the evacuation of about 6,000 residents, is a threat to almost 3% of the world's crude oil and condensate supplies. So far, no oil-sands producer has reported operational disruptions. [Extracted from the article]

A second wildfire has broken out near Fort McMurray, Alberta, the unofficial capital of Canada's oil-sands industry. The fire is about 3 hectares in size and is located approximately 10 kilometers away from Suncor Energy Inc.'s Millennium and Steepbank mine sites. This poses a threat to the city of Fort McMurray, which has already seen over 6,000 people evacuated. The fires also pose a risk to the oil-sands operations that produce the majority of Canada's daily crude output. The previous wildfire in 2016 caused significant damage and was Canada's costliest natural disaster. While the current fire has not affected operations, the safety of employees and contractors is a top priority. [Extracted from the article]

A wildfire near Fort McMurray, Alberta, the unofficial capital of Canada's oil-sands industry, is expected to decrease in threat as temperatures cool and winds shift. The fire grew to 21,000 hectares and came within 5.5 kilometers of the city's landfill. While winds are expected to weaken and push the fire away from Fort McMurray, the fire still poses a threat to the city. The coming days may bring some showers, but the chances of a big weather system extinguishing the blaze are low. Fort McMurray, which was previously devastated by a fire in 2016, is the largest city near Canada's oil-sands operations. The current fire has prompted evacuations and a state of local emergency declaration. The smoke from the fire is not expected to reach large cities on the East Coast. [Extracted from the article]

Brazil is bracing for more rain and colder temperatures that could worsen the historic floods that have devastated the southern region. The floods have caused significant damage, with over 116 people dead, hundreds of thousands displaced, and half a million without electricity or clean water. The economic toll of the crisis is estimated to reach $2.5 billion. Efforts are underway to provide aid to the affected areas, including a relief package worth $9.9 billion and the immediate release of $12 billion in budget funds. The floods have also impacted Brazil's economy, particularly the agricultural sector, with a reduction in soybean crop and potential inflationary effects. [Extracted from the article]

Brazil is bracing for more rain and colder temperatures that could worsen the historic floods that have devastated the southern region. The floods have caused significant damage, with over 116 people dead, hundreds of thousands displaced, and half a million without electricity or clean water. The economic toll of the crisis is estimated to reach $2.5 billion. Efforts are underway to provide aid to the affected areas, including a relief package worth $9.9 billion announced by President Luiz Inacio Lula da Silva. The floods have also impacted Brazil's economy, particularly the agricultural sector, with a reduction in soybean crop and potential inflationary effects. [Extracted from the article]

According to scientific analysis, the European Union experienced its joint-hottest year on record in 2023, indicating a more dangerous future for the continent. Europe faced extreme weather events, including the largest wildfire and one of the costliest floods in its history. The region also saw record-breaking temperatures, which contributed to wildfires and increased precipitation. The report highlights the need for urgent action to reduce greenhouse gas emissions and stabilize the climate. Europe is projected to face significant warming, particularly in areas like the Alps, where glaciers have already lost 10% of their volume in the past two years. [Extracted from the article]

Russia and Kazakhstan are currently experiencing their worst floods in 80 years due to unexpectedly high temperatures that caused a significant amount of snow to melt. Over 30,000 people have been evacuated in Russia, while in Kazakhstan, more than 118,000 people were asked to leave their homes. Climate change is believed to be a contributing factor to the floods, with abnormal warmth and record-breaking temperatures being observed in both countries. The economic impact of the flooding is still uncertain, but preliminary estimates suggest damages of over $400 million in Russia alone. [Extracted from the article]

Leftover fires from Canada's record wildfire season in 2023, known as "zombie fires," are still smoldering beneath layers of snow and threatening the country's natural gas production. These fires are located near oil and gas wells and other production facilities, and they could potentially disrupt about 3% of Canada's natural gas production. Companies at risk include Tourmaline Oil Corp., Cenovus Energy Inc., Paramount Resources Ltd., and smaller explorers like Westbrick Energy Ltd. Climate change and dry conditions are increasing the risk of wildfires in Canada, and the country is bracing for another smoke-filled summer. [Extracted from the article]

India has invoked emergency rules to require its idle gas-fired power plants to operate during the summer months. This decision comes as electricity demand is expected to rise and the country is already experiencing a scorching summer. The order is based on a provision in the electricity law that allows the government to force generating plants to operate in extraordinary circumstances. The order will be in effect until the end of June and may be extended until October 15. [Extracted from the article]

An oil refinery in the Orenburg region of Russia has halted operations and thousands of people have been evacuated due to major flooding. The flooding was caused by a burst embankment dam and heavy rains in the region. The situation has been described as "critical" by the head of Russia's Ministry of Emergency Situations, with over 4,500 residential buildings flooded. The floods have also affected neighboring Kazakhstan, where tens of thousands of people have been relocated. No injuries or deaths have been reported, but the floods are considered the largest disaster in the region in decades. [Extracted from the article]

An oil refinery in the Orenburg region of Russia has halted operations and thousands of people have been evacuated due to major flooding. The flooding was caused by a burst embankment dam and heavy rains in the region. The situation has been described as "critical" by the head of Russia's Ministry of Emergency Situations, with over 4,500 residential buildings flooded. The floods have also affected neighboring Kazakhstan, where tens of thousands of people have been relocated. No injuries or deaths have been reported, but the floods are considered the largest disaster in the region in decades. [Extracted from the article]

The Orenburg region in Russia has experienced major flooding, leading to the evacuation of thousands of people and the halting of operations at an oil refinery in the city of Orsk. The flooding was caused by a burst embankment dam and heavy rains in the region. The situation has been described as "critical" by the head of Russia's Ministry of Emergency Situations, with over 4,500 residential buildings flooded. Neighboring Kazakhstan has also been affected, with tens of thousands of people relocated. The floods in Kazakhstan are being described as the largest disaster in decades. [Extracted from the article]

Greece is investing €2.1 billion ($2.27 billion) in the Aegis program to protect the country from natural disasters caused by climate change, particularly wildfires. The program will provide new and upgraded equipment to the Ministry of Civil Protection, including firefighting aircraft, drones, fire detection systems, and firefighting vehicles. Climate change-related fires have been a significant issue in Greece, with wildfires scorching a large area of forest in 2023. The funding for the program comes from the EU's Recovery and Resilience Facility, the National Strategic Reference Framework, and the European Investment Bank. Additionally, Greece has allocated a budget of €198 million for the Anti-Nero III program, which focuses on wildfire prevention measures. The outlook for this year's wildfire season is concerning due to ongoing drought conditions. [Extracted from the article]

The Orenburg region in Russia has experienced major flooding, leading to the evacuation of thousands of people and the halting of operations at an oil refinery in the city of Orsk. The flooding was caused by a burst embankment dam and heavy rains in the region. The situation has been described as "critical" by the head of Russia's Ministry of Emergency Situations, with over 4,500 residential buildings flooded. Neighboring Kazakhstan has also been affected, with tens of thousands of people relocated. The floods are considered to be the worst natural disaster in decades, and a state of emergency has been declared in the Orenburg region. [Extracted from the article]

Millions of livestock in Mongolia have died due to extreme winter weather exacerbated by climate change, causing significant economic and cultural impacts. The frequency of natural disasters in Mongolia has doubled in the past two decades, leading to land degradation, desertification, and water scarcity. These conditions make it harder for livestock to survive harsh winters, resulting in the loss of entire herds. The recent dzud, characterized by freezing temperatures, heavy snow, and ice, affected 20 out of 21 provinces and killed 5.9 million animals. This threatens the livelihoods of nomadic herders, who rely on livestock for income, and poses risks to the country's economy. The extreme winter conditions also impact the wider economy, leading to increased prices for animal feed and potentially affecting the cashmere industry, one of Mongolia's major exports. [Extracted from the article]

India's power ministry is considering invoking an emergency rule to run gas-fired power plants during the summer in order to ensure uninterrupted supplies. This move comes as India prepares for crucial elections that coincide with the summer months, which experience intense heatwaves and increased electricity demand. The government previously used this emergency rule to require plants running on imported coal to operate at full capacity. The ministry is also urging coal plants to delay scheduled maintenance during the summer months to help ease electricity demand. [Extracted from the article]

The World Meteorological Organization (WMO) has warned that all major indicators of climate change reached unprecedented levels in 2023, with some surpassing previous records to an extreme extent. The WMO's annual State of the Global Climate report for 2023 highlights the devastating impact of climate change, including natural disasters, economic losses, and population displacement. The report emphasizes that climate change is not just about rising temperatures but is also closely linked to inequality. While there has been progress in renewable energy capacity, the report emphasizes that greenhouse gas concentrations continue to rise, and the effects of climate change are expected to be irreversible for hundreds to thousands of years. [Extracted from the article]

South Africa's deputy finance minister, David Masondo, has stated that the government cannot afford to finance the development of climate-resilient infrastructure due to financial constraints. The country has been experiencing an increase in climate change-related natural disasters, such as frequent flooding in certain areas. While the government has established an infrastructure fund, Masondo suggests exploring alternative funding mechanisms like green bonds and carbon credits. South Africa, like many other African nations, faces high levels of debt, making it difficult to invest in climate change initiatives. [Extracted from the article]

Japan Airlines has launched an unmanned drone service in a remote part of Japan to deliver goods and medical supplies. The service is being provided in collaboration with local authorities in Setouchi town, which is prone to heavy rains and landslides. The initiative aims to address the logistical challenges faced by residents in the area, who typically rely on ships for their daily needs. This is Japan Airlines' first commercial service for disaster relief, and it is part of a broader trend of similar initiatives in Asia. [Extracted from the article]

Money managers are struggling to incorporate the risks of climate change into their investment strategies due to the lack of comprehensive environmental data, inconsistent corporate disclosures, and the interdisciplinary challenge of linking climate science to financial returns. However, some early adopters are hiring climate scientists to help them understand the impact of climate change on investing. These investors use climate change data to develop models that determine which companies will be winners or losers in a world where weather disasters are increasing. The research suggests that markets are currently underpricing the physical risks of climate change. [Extracted from the article]