EFRA Select Committee Enquiry on Climate Change Submission from the Association of British Insurers (ABI), October 2004
|
|
- Lilian Gibson
- 6 years ago
- Views:
Transcription
1 EFRA Select Committee Enquiry on Climate Change Submission from the Association of British Insurers (ABI), October 2004 Climate change will have a direct impact on the property insurance market, because it will increase the frequency and severity of extreme events, such as floods, windstorms, and very dry summers (higher subsidence claims) exactly those occasional, unexpected events for which insurance provides financial protection. Over the past six years, storm and flood losses in the UK have exceeded 6 billion twice the previous period. Initial calculations suggest that future claims costs could be two or three times higher than today s levels unless we begin to action to prepare for climate change. Adaptation to climate change needs to take place in parallel with efforts to mitigate the causes (greenhouse gas emissions). We are already locked into a significant degree of climate change, no matter what we do to reduce emissions of greenhouse gases. The long lifetime and high cost of buildings and infrastructure means that we need to start thinking right now about preparing for the impacts of climate change. Government policies should take explicit account of climate change to reduce future costs and damages to society, including building an allowance for climate change into: Building regulations and voluntary building codes Planning and development control Design of coastal flood defences Design of sewer drainage systems Ultimately, climate change can only be solved through concerted and coordinated global action to reduce emissions of greenhouse gases, so that carbon dioxide levels in the atmosphere are stabilized in the long term. The UK insurance industry could be influential internationally to promote global action on climate change, and would be pleased to work with the Government using existing international links to encourage global action on climate change. 1. The Association of British Insurers (ABI) is the trade association for insurance companies operating in the UK. It represents over 400 members who, between them, transact around 95 % of UK insurance business. It is estimated that the insurance industry accounts for 20 % of investment in the stock market. 1
2 Climate change and insurance 2. The insurance industry has been concerned about the impacts of climate change for a number of years 1. Insurers recognise that unless we take action to tackle climate change, we could face rising costs of weather damage in the future. 3. Climate change will have a direct impact on the property insurance market, because it will increase the frequency and severity of extreme events, such as floods, windstorms, and very dry summers (higher subsidence claims) 2 exactly those occasional, unexpected events for which insurance provides financial protection. By increasing the risk and cost of weather damage, climate change could threaten the ability of insurance products to act as an effective mechanism for risk transfer. 4. On a global scale, we have already seen that economic losses due to natural weather catastrophes have increased ten-fold in the last 40 years (Figure 1). Losses caused by natural disasters worldwide in the last 15 years have totalled $1,000 billion, about three-quarters of which are directly linked to climate and weather events. Figure 1. Weather-related global economic losses for (a) Flood, and (b) Windstorm in 2004 prices. Source: Munich Re. (a) Severe Floods (b) Severe Storms $ bn Economic losses Insured losses 1960s 1970s 1980s 1990s $ bn Economic losses Insured losses 1960s 1970s 1980s 1990s 5. According to a recent study by the ABI 3, risks from weather damage are already increasing by 2 4 % per year on insurers property accounts due to changing climatic conditions. Over the past six years, storm and flood losses in the UK have exceeded 6 billion twice the previous period. 6. The underlying risk from extreme weather will continue to increase in the future, and more than likely at an accelerated pace. Initial calculations suggest that future claims costs could be two or three times higher than today s levels unless we begin to action to prepare for climate change (Table 1). 1 Climate change and the financial services sector: an appreciation of the UNEPFI study, A Dlugolecki and T Loster (2003), Geneva Papers on Risk and Insurance 28, Press Release WMO No. 695, World Meteorological Organisation, 2003, 3 A changing climate for insurance, Association of British Insurers, June 2004, 2
3 The need for adaptation 7. Adaptation to climate change needs to take place in parallel with efforts to mitigate the causes (greenhouse gas emissions). We are already locked into a significant degree of climate change, no matter what we do to reduce emissions of greenhouse gases. National and international efforts to reduce greenhouse gas emissions may lessen the degree of climate change in the coming century, but they will not prevent it completely. Table 1. Preliminary estimates of future costs of weather insurance claims ( million in 2004 prices). Source: A Changing Climate for Insurance, ABI, June 2004 Today 2050 Annual average Extreme year Annual average Extreme year Subsidence ,200 Storm 400 2, ,500 Inland flood 400 1, ,500 Coastal flood - 5,000-40,000 (London affected) 8. According to model runs by the Hadley Centre, even if we are able to prevent any further increase in carbon dioxide concentrations in the atmosphere, something which would itself involve a 70 % cut in emissions with immediate effect, the inertia built into the climate system means that we are already committed to an eventual 1.5 C rise in global temperature and a 1-m rise in sea-level. 9. This message was brought home recently by the Government s Foresight report 4, which showed that building climate change into flood risk management policies and plans today could reduce the costs of annual flood damage from 21bn to 2bn, while a low-emissions scenario only reduced costs of flooding by 25% compared to a high-emissions scenario. 10. The long lifetime and high cost of buildings and infrastructure means that we need to start thinking right now about preparing for the impacts of climate change. Many impacts of climate change can be minimised by comparatively small expenditure during planning, construction, and renovation, so it is important to build adequate protection into plans at an early stage. 11. A recent ABI study 5 examined the costs of installing flood-resilient measures into a property after a flood or during the normal course of renovation, and compared these 4 Future Flooding, Office of Science and Technology Foresight Programme, April 2004, 5 Flood Resilient Homes, Association of British Insurers, April 2004, 3
4 with the damages saved after the next flood. Many measures paid for themselves after a single flood, for example: Replacing untreated wood floors with tiled concrete. Replacing chipboard kitchen and bathroom units with plastic or ceramic. Replacing gypsum plaster on walls with lime-based or waterproof render. Moving service meters, boiler, and electrics well above likely flood level. Installing one-way valves in pipes to prevent sewage back-up into property. Government policy and adaptation 12. In the Climate Change Programme 6, the UK has already set priority policy areas for adaptation, focusing on sectors that are vulnerable to changing weather patterns and where long planning horizons mean that decisions taken today will leave a legacy in the country s future climate, e.g. spatial planning and building design. 13. Now that we have relatively advanced predictions about the changes in climate this century, it is important that these policy areas take explicit account of climate change. Changing building regulations and voluntary building codes (e.g. new Code for Sustainable Building), so that they use future climate instead of historic weather patterns to set standards. Buildings constructed today will typically still be in place when the most serious impacts of climate change begin to be felt, but they will not have been designed to be resilient to these impacts, unless these effects are incorporated into the building regulations and building design codes. Developing a stronger and more transparent planning system, so that development in the floodplain is curtailed. Since land use planning plays such a key role in the sustainable management of flood risk in the long term, particularly with the added pressure of climate change, ABI would like to see current Government guidance (PPG25) strengthened. The sequential planning test set out in PPG25 should include explicit allowance for climate change, and the Environment Agency should be made a statutory consultee on all planning applications in flood areas. Flexibility should be built into the design of coastal defences to take account of potential increases in storm surge heights due to climate change (Figure 2). Climate change could add more than 1 metre to presentday storm surge heights along parts of the coast 7, although there is considerable disparity between different models about where these effects will be manifested. Nevertheless, ABI would like to see greater allowance for the 6 The UK Climate Change Programme, Department of Environment, Transport and the Regions, November 2000, 7 Climate change scenarios for the United Kingdom, UK Climate Impacts Programme (2002) [ 4
5 impacts of climate change on storm surges included in coastal defences works particularly for East Coast locations where the potential consequences of a significant storm surge are very serious. New sewers should ideally be designed with sufficient capacity to cope with the increased heavy rainfall we will experience as a result of climate change. In the current pricing review, Ofwat should enable water companies to include an allowance for climate change in the costs of any new capital scheme. Climate change will not just increase the quantity of rainfall but also its intensity, perhaps by up to 20 % 8. Figure 2. The need to set new development back from existing defences to include some flexibility to incorporate further allowance for climate change in the future. Green lines represent good practice, and red dotted lines represent bad practice. Source: Environment Agency (2003), Thames Gateway and Flood Risk Management A Preliminary Assessment. International climate change policy 14. Climate change is a key policy issue for the current Government. Tony Blair has pledged his personal commitment to tackling climate change during his time as Prime Minister, and has set climate change as one of two top priorities for the Government as Chair of the G8 and as President of the European Council in Climate change scenarios for the United Kingdom, UK Climate Impacts Programme (2002) [ 5
6 15. Ultimately, climate change can only be solved through concerted and coordinated global action to reduce emissions of greenhouse gases, so that carbon dioxide levels in the atmosphere are stabilized in the long term. 16. Insurance is now a global industry, and a powerful financial force in many developed and developing countries. The UK insurance industry could be influential internationally to promote global action on climate change, and would be pleased to work with the Government using existing international links to encourage global action on climate change. ABI Contact Dr Sebastian Catovsky Policy Adviser, Natural Perils Association of British Insurers 51 Gresham Street London EC2V 7HQ sebastian.catovsky@abi.org.uk 6
Evidence for Environmental Audit Committee Enquiry on Sustainable Housing Submission by Association of British Insurers, May 2004
Evidence for Environmental Audit Committee Enquiry on Sustainable Housing Submission by Association of British Insurers, May 2004 The Government s plans to tackle the country s profound housing shortage
More informationWEATHER EXTREMES, CLIMATE CHANGE,
WEATHER EXTREMES, CLIMATE CHANGE, DURBAN 2011 ELECTRONIC PRESS FOLDER Status: 25.11.2011 Contents 1. Current meteorological knowledge 2. Extreme weather events 3. Political action required 4. Insurance
More informationClimate Change and The Built Environment
Climate Change and The Built Environment Committee on the Effect of Climate Change on Indoor Air Quality and Public Health June 7, 2010 Frank Nutter, President Reinsurance Association of America Flooding
More informationCongressional Budget Office
Congressional Budget Office November 2, 2017 Effects of Climate Change and Coastal Development on U.S. Hurricane Damage: Implications for the Federal Budget Interagency Forum on Climate Risks, Impacts,
More informationSME Resilience to Extreme Weather Events: Important initiatives for informing policy making in the area
SME Resilience to Extreme Weather Events: Important initiatives for informing policy making in the area Bingunath Ingirige School of the Built Environment, the University of Salford, UK (Email: m.j.b.ingirige@salford.ac.uk)
More informationThe AIR Coastal Flood Model for Great Britain
The AIR Coastal Flood Model for Great Britain The North Sea Flood of 1953 inundated more than 100,000 hectares in eastern England. More than 24,000 properties were damaged, and 307 people lost their lives.
More informationHRPP 358. Adapting flood risk management for an uncertain future: Flood management planning on the thames estuary. D. Ramsbottom & T.
HRPP 358 Adapting flood risk management for an uncertain future: Flood management planning on the thames estuary D. Ramsbottom & T. Reeder Reproduced from a paper presented at: The 43rd Defra Flood and
More informationClimate risk management plan. Towards a resilient business
Type your organisation name here Climate risk management plan Towards a resilient business 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 Click the numbers to select your cover images 1 2 3 4 5 Document control sheet Document
More informationCATASTROPHIC RISK AND INSURANCE Hurricane and Hydro meteorological Risks
CATASTROPHIC RISK AND INSURANCE Hurricane and Hydro meteorological Risks INTRODUCTORY REMARKS OECD IAIS ASSAL VII Conference on Insurance Regulation and Supervision in Latin America Lisboa, 24-28 April
More informationEconomics of Climate Adaptation
Shaping Climate-resilient Development Economics of Climate Adaptation A Framework for Decision-makers Dr. David N. Bresch, Head Sustainability & Political Risk Management, Swiss Re david_bresch@swissre.com
More informationIRISH FLOOD PREVENTION PROGRAMME Example of integrating climate change adaptation into projects
IRISH FLOOD PREVENTION PROGRAMME Example of integrating climate change adaptation into projects JASPERS Networking Platform Event Climate Change Adaptation: Vulnerability and Risk Assessment and the Resilience
More informationDRAFT STRATEGIC ENVIRONMENTAL ASSESSMENT SCREENING REPORT. Climate Change Sectoral Adaptation Plan for Flood Risk Management ( )
Office of Public Works DRAFT STRATEGIC ENVIRONMENTAL ASSESSMENT SCREENING REPORT Climate Change Sectoral Adaptation Plan for Flood Risk Management (2014-2019) Determination of the need for strategic environmental
More informationKey Policy Issues for the General Insurance Industry
16 th General Insurance Seminar Coolum, November 10 2008 Key Policy Issues for the General Insurance Industry Kerrie Kelly Executive Director & CEO Insurance Council of Australia Insurance Council of Australia
More informationABI GUIDE TO RESISTANT AND RESILIENT REPAIR AFTER A FLOOD
ABI GUIDE TO RESISTANT AND RESILIENT REPAIR AFTER A FLOOD @BritishInsurers abi.org.uk @BritishInsurers 1 2 abi.org.uk Introduction If you have suffered a flood you will know how devastating and distressing
More informationMoney s too tight to mention:
Coping with climate change Money s too tight to mention: risks and opportunities for insurers will IPODS ever trust the financial services industry? 2009 Foreword and Executive Summary Foreword Foreword
More informationDRAFT Revised Guide to the National CDEM Plan 2015 July 2015
2. Hazards and risks Summary The National CDEM Plan 2015 identifies core functions for national management of the consequences of emergencies. It may also address the management of consequences of other
More informationClimate Change Challenges. Condensed Overview. Climate change scenarios and their impact on funding risk and asset allocation
Climate Change Challenges Condensed Overview Climate change scenarios and their impact on funding risk and asset allocation November 2018 Table of contents Executive introduction....3 Background....4 Where
More information2. Hazards and risks. 2 HAZARDS AND RISKS p1
2. Hazards and risks Summary The National CDEM Plan 2015 identifies core functions for national management of the consequences of emergencies. It may also address the management of consequences of other
More informationEExtreme weather events are becoming more frequent and more costly.
FEATURE RESPONDING TO CATASTROPHIC WEATHER, CAPTIVES ANSWER THE CALL EExtreme weather events are becoming more frequent and more costly. According to Munich Re, in 2017 insured catastrophic losses were
More informationPosition statement Danske Bank March 2018
Climate change Position statement Danske Bank March 2018 1 Introduction About Danske Bank Group Danske Bank is a Nordic universal bank with strong regional roots and close ties to the rest of the world.
More informationFLOODING INFORMATION SHEET YOUR QUESTIONS ANSWERED
The information in this document has been written in partnership by the Association of British Insurers and the Environment Agency 1. Flood risk and insurance Q1. How can I find out the flood risk affecting
More informationFuture proofing New and Existing Buildings Flood Resilient Design and Construction Techniques
Future proofing New and Existing Buildings Flood Resilient Design and Construction Techniques Katy Hunter BRE Scotland 28 th April 2015 Part of the BRE Trust Introduction Who are BRE Flood Risk in the
More informationThe 1995 Report on the IPCC (Intergovernmental Panel on Climate Change)
The Geneva Papers on Risk and Insurance, 22 (No. 85, October 1997) 496-500 The 1995 Report on the IPCC (Intergovernmental Panel on Climate Change) Working Group Chapter 17 - Financial Services by Andrew
More informationGentoo INTRODUCTION SUMMARY KEY MESSAGES ABOUT THE ORGANISATION BUSINESS DRIVERS IN DETAIL. UK Climate Impacts Programme, 2010
Gentoo SUMMARY INTRODUCTION With support from UKCIP, Gentoo used the UKCIP Adaptation Wizard to complete a high level climate risk assessment and adaptation options scoping exercise. This was the first
More informationIAP Stern Review Discussion Talking About Risk John E. Parsons
IAP Stern Review Discussion Talking About Risk John E. Parsons Center for Energy and Environmental Policy Research A Problem of Risk Management it it was was clear clear that that the the modelling framework
More information3. The paper draws on existing work and analysis. 4. To ensure that this analysis is beneficial to the
1. INTRODUCTION AND BACKGROUND 1. The UNFCCC secretariat has launched a project in 2007 to review existing and planned investment and financial flows in a concerted effort to develop an effective international
More informationThe AIR Inland Flood Model for Great Britian
The AIR Inland Flood Model for Great Britian The year 212 was the UK s second wettest since recordkeeping began only 6.6 mm shy of the record set in 2. In 27, the UK experienced its wettest summer, which
More informationPREPARE FOR FLOODING.
PREPARE FOR FLOODING. A GUIDE FOR RESIDENTS AND BUSINESSES FOR ADVANCE FLOOD WARNINGS Your property could be at risk of flooding. But help is available. The frequency of floods has risen dramatically in
More informationGovernance and Management
Governance and Management Climate change briefing paper Climate change briefing papers for ACCA members Increasingly, ACCA members need to understand how the climate change crisis will affect businesses.
More informationEconomic Risk and Potential of Climate Change
Economic Risk and Potential of Climate Change Prof. Dr. Peter Hoeppe; Dr. Ernst Rauch This document appeared in Detlef Stolten, Bernd Emonts (Eds.): 18th World Hydrogen Energy Conference 2010 - WHEC 2010
More informationClimate Change: Adaptation for Queensland. Issues Paper
Climate Change: Adaptation for Queensland Issues Paper QCOSS Submission, October 2011 1 Climate Change: Adaptation for Queensland QCOSS response to the Issues Paper Introduction Queensland Council of Social
More informationSolway Local Plan District 1 Flood risk management in Scotland 1.1 What is a Flood Risk Management Strategy? Flood Risk Management Strategies have bee
Flood Risk Management Strategy Solway Local Plan District Section 1: Flood Risk Management in Scotland 1.1 What is a Flood Risk Management Strategy?... 1 1.2 How to read this Strategy... 1 1.3 Managing
More informationNeed for a Closer Look
Need for a Closer Look - Natural Catastrophes in India Anup Jindal emphasizes that if a realistic assessment of the catastrophe risks is to be made, one should also take into account the future projections;
More informationRecent weather disasters Statistics of natural catastrophes Reasons for increasing losses Risk reduction strategies Conclusions
Geo Risks Research Munich Reinsurance Company Topics Recent weather disasters Statistics of natural catastrophes Reasons for increasing losses Risk reduction strategies Conclusions Weather records and
More informationMEMORANDUM. TO: Barry Fadden, Acting Purchasing Agent; Carl Spector, Executive Director, Boston Air Pollution Control Commission
6 Everett Street, 4th Floor Cambridge, MA, 02138 T: 617-496-2058 F: 617-384-7633 MEMORANDUM TO: Barry Fadden, Acting Purchasing Agent; Carl Spector, Executive Director, Boston Air Pollution Control Commission
More informationREPUBLIC OF BULGARIA
REPUBLIC OF BULGARIA DISASTER RISK REDUCTION STRATEGY INTRUDUCTION Republic of Bulgaria often has been affected by natural or man-made disasters, whose social and economic consequences cause significant
More informationAdaptation Resource Pack
Adaptation Resource Pack Step-by-step guidance for Local Authorities with case studies from around the North West of England. Climate Change Adaptation Risk Assessment in Detail Service Area: Capital Assets
More informationThe shared response to climate change: turning momentum into action
1 The shared response to climate change: turning momentum into action Speech given by Sarah Breeden, Executive Director, International Banks Supervision, Bank of England Based on remarks made on 19 March
More informationRecent policy developments and the rise of climate-related securities disclosure
Recent policy developments and the rise of climate-related securities disclosure ACC Conference May 8, 2017 Laura Zizzo Founder and CEO Topics We Will Cover Overview of Climate Impacts International and
More informationFSB Task Force on Climate-related Financial Disclosures. Eloy Lindeijer Amstelveen, 13 October 2016
FSB Task Force on Climate-related Financial Disclosures Eloy Lindeijer Amstelveen, 13 October 2016 Agenda Background Introduction to the Task Force Relevance for the Netherlands Proposed Disclosures Next
More informationInsurers as Data Providers. Raising Awareness of Changing Risks. What can Insurers Contribute to Increase Resilience Against Weather Extremes?
What can Insurers Contribute to Increase Resilience Against Weather Extremes? Prof. Dr. Peter Hoeppe, Head Geo Risks Research/Corporate Climate Centre, Munich Re 5 th European Communications Workshop for
More informationDISASTER RISK FINANCING STRATEGIES AND ITS COMPONENTS
DISASTER RISK FINANCING STRATEGIES AND ITS COMPONENTS Mamiko Yokoi-Arai, Principal Administrator, Insurance and Private Pensions, OECD Joint DAC-EPOC Task Team on Climate Change and Development Co-operation
More informationWHAT DOES CLIMATE CHANGE MEAN FOR YOUR LOCAL AREA?
WHAT DOES CLIMATE CHANGE MEAN FOR YOUR LOCAL AREA? THE FEDERAL ELECTORATE OF FLINDERS The Climate Council is an independent, crowd-funded organisation providing quality information on climate change to
More informationDisaster risk management for climate change adaptation: Experiences from German development cooperation
Disaster risk management for climate change adaptation: Experiences from German development cooperation Britta Heine 1, Jens Etter 2 1 Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) GmbH, Postfach
More informationAdaptation Practices and Lessons Learned
Adaptation Practices and Lessons Learned Increased Flooding Risk Due To Sea Level Rise in Hampton Roads: A Forum to Address Concerns, Best Practices and Plans for Adaptation Nov. 16, 2012 Virginia Modeling,
More informationWHAT DOES CLIMATE CHANGE MEAN FOR YOUR LOCAL AREA?
WHAT DOES CLIMATE CHANGE MEAN FOR YOUR LOCAL AREA? THE FEDERAL ELECTORATE OF PORT ADELAIDE The Climate Council is an independent, crowd-funded organisation providing quality information on climate change
More informationHow insurance can support climate resilience
Accepted manuscript - 1 Embargoed till 24 March at 9am GMT (10:00 CET) How insurance can support climate resilience Swenja Surminski (Grantham Research Institute on Climate Change and the Environment at
More informationWorld Flooding Jan - Aug 2002
Bonn, 14 May 2003 Risk Management Best Practice Professor David Crichton University College London Middlesex University, London University of Dundee, Scotland Fellow of the Chartered Insurance Institute
More informationGoal 13. Target 13.2: Integrate climate change measures into national policies, strategies and planning
Goal 13 Target 13.2: Integrate climate change measures into national policies, strategies and planning Indicator Number and Name: 13.2.1 Number of countries that have communicated the establishment or
More informationThe impact of present and future climate changes on the international insurance & reinsurance industry
Copyright 2007 Willis Limited all rights reserved. The impact of present and future climate changes on the international insurance & reinsurance industry Fiona Shaw MSc. ACII Executive Director Willis
More informationAdapting to heatwaves and coastal flooding
Chapter 6. CSIRO 2011. All rights reserved. Adapting to heatwaves and coastal flooding By Xiaoming Wang and Ryan RJ McAllister Key messages With an expected increase in the incidence of heatwaves and heat-related
More informationReal Options as a Tool for Valuing Investments in Adaptation to Climate Change
Real Options as a Tool for Valuing Investments in Adaptation to Climate Change Conference on Economics of Adaptation to Climate Change in Low-Income Countries 18 May 2011 Washington, DC Peter Linquiti
More informationWe write to you to express concern about the lack of public disclosure of physical risks due to climate change at Valero s coastal refineries.
Investors and environmentalists for sustainable prosperity February 25, 2015 Mike Ciskowski Executive Vice President and Chief Financial Officer One Valero Way San Antonio, Texas 78249 Dear Mr. Ciskowski,
More informationDisaster resilient communities: Canada s insurers promote adaptation to the growing threat of high impact weather
Disaster resilient communities: Canada s insurers promote adaptation to the growing threat of high impact weather by Paul Kovacs Executive Director, Institute for Catastrophic Loss Reduction Adjunct Research
More informationClimate Change : Adaptation is Urgent
Climate Change : Adaptation is Urgent The Hon. Tom Roper President, Australian Sustainable Built Environment Council Board Member, Climate Institute USGBC Greenbuild Chicago, November 2010 Discussion points
More informationTHE CLIMATE RISK INSURANCE INITIATIVE
THE CLIMATE RISK INSURANCE INITIATIVE InsuResilience at a glance The InsuResilience Climate Risk Insurance Initiative was adopted by the G7 partner countries Germany, France, Italy, Japan, Canada, the
More informationKirkwall (Potentially Vulnerable Area 03/05) Local Plan District Local authority Main catchment Orkney Orkney Islands Council Orkney coastal Backgroun
Kirkwall (Potentially Vulnerable Area 03/05) Local Plan District Orkney Local authority Orkney Islands Council Main catchment Orkney coastal Summary of flooding impacts 490 residential properties 460 non-residential
More information3. If yes, do this climate risk analyses faces particular challenges with the lack of knowledge, information and understanding of slow onset events?
Questionnaire for national entities 1. Is there a comprehensive or a partial climate risk analysis 1 conducted in your country? If no, please go to question XX 2. If yes, does the comprehensive climate
More information15.023J / J / ESD.128J Global Climate Change: Economics, Science, and Policy Spring 2008
MIT OpenCourseWare http://ocw.mit.edu 15.023J / 12.848J / ESD.128J Global Climate Change: Economics, Science, and Policy Spring 2008 For information about citing these materials or our Terms of Use, visit:
More informationThinking allowed Climate-related disclosure. Integrating climate-related information in the annual report
Thinking allowed Climate-related disclosure Integrating climate-related information in the annual report Corporate reporting continues to evolve to meet the expectations of investors as the environment
More informationEscapE Of WatEr Wns perspective placing property OWnErs as a priority
WNS PERSPECTIVE Escape Of Water Placing Property Owners As A Priority Water damage is a big concern for property insurers the cause of forty six per cent of all property claims. Storm and flood are more
More informationDevelopment and Flood Risk - the Environment Agency s approach to PPS25. scrutinised before planning decisions are made
Development and Flood Risk - the Environment Agency s approach to PPS25 Steve Cook Flood Risk Policy Advisor Stephen.cook@environment-agency.gov.uk Our role in PPS25 h Providing advice and information
More informationThe AIR Inland Flood Model for the United States
The AIR Inland Flood Model for the United States In Spring 2011, heavy rainfall and snowmelt produced massive flooding along the Mississippi River, inundating huge swaths of land across seven states. As
More informationAdaptation for developing countries in a post-2012 UN Climate Regime
November 2009 WWF Global Climate Policy Position Paper Sandeep Chamling Rai WWF International Adaptation Policy Coordinator Mobile : +65 9829 1890 scrai@wwf.sg Adaptation for developing countries in a
More informationAXA AND CLIMATE RISKS Why does climate change warrant our attention?
AXA AND CLIMATE RISKS Why does climate change warrant our attention? Climate change is increasingly impacting the world s populations and economies The latest scientific findings have reinforced the message
More informationNATURAL PERILS - PREPARATION OR RECOVERY WHICH IS HARDER?
NATURAL PERILS - PREPARATION OR RECOVERY WHICH IS HARDER? Northern Territory Insurance Conference Jim Filer Senior Risk Engineer Date : 28 October 2016 Version No. 1.0 Contents Introduction Natural Perils
More informationGoal 13. Target number: 13.a
Goal 13 Target number: 13.a Indicator Number and Name: 13.a.1 Mobilized amount of US dollars per year starting in 2020 accountable towards the $100 billion commitment. Agency: UNFCCC in consultation with
More informationRepublic of Mauritius. Official Statement for 2017 Global Platform. For Disaster Risk Reduction
Republic of Mauritius Official Statement for 2017 Global Platform For Disaster Risk Reduction Your Excellency the Prime Minister of the United Mexican States Your Excellency the Secretary General of the
More informationClimate Change and Natural Disasters: Economic Impacts and Possible Countermeasures
Climate Change and Natural Disasters: Economic Impacts and Possible Countermeasures Prof. Dr. Gerhard Berz, ret. Head, Geo Risks Research Dept., Munich Reinsurance Company Natural Disasters 1980-2005
More informationSUBMISSION BY DENMARK AND THE EUROPEAN COMMISSION ON BEHALF OF THE EUROPEAN UNION AND ITS MEMBER STATES
SUBMISSION BY DENMARK AND THE EUROPEAN COMMISSION ON BEHALF OF THE EUROPEAN UNION AND ITS MEMBER STATES Bonn, 25 May 2012 Subject: EU Fast Start Finance Report Key Messages In accordance with developed
More informationApplying climate scenarios for prediction of future premiums
www.nr.no Applying climate scenarios for prediction of future premiums Ola Haug Xeni K. Dimakos Norsk Regnesentral (NR) Insuring Future Climate Change 3 November 2008 This is joint work with: Jofrid F.
More informationStrategic flood risk management
Report by the Comptroller and Auditor General Department for Environment, Food & Rural Affairs and Environment Agency Strategic flood risk management HC 780 SESSION 2014-15 5 NOVEMBER 2014 4 Key facts
More informationInsuring Climate Change-related Risks
Insuring Climate Change-related Risks 19 February 2016 Austrian Climate Change Workshop Day 2 Tobias Grimm Senior Project Manager Corporate Climate Centre Climate & Renewables Munich Re some facts About
More informationThe Costs of Climate Change
BACKGROUNDER The Costs of Climate Change Prepared by Clare Demerse, federal policy advisor, Clean Energy Canada November 17, 2016 CLIMATE COSTS IN CONTEXT Canada s governments are developing a climate
More informationAquidneck Island Resilience Strategy Issue Paper 4. Issue: RESIDENTIAL FLOODING
Aquidneck Island Resilience Strategy Issue Paper 4 Issue: RESIDENTIAL FLOODING Description of Concern: While much of Aquidneck Island s geography lies outside the reach of coastal flooding, some of the
More informationEx-Ante Evaluation (for Japanese ODA Loan)
Japanese ODA Loan Ex-Ante Evaluation (for Japanese ODA Loan) 1. Name of the Program Country: Socialist Republic of Viet Nam Program: Support Program to Respond to Climate Change (VI) Loan Agreement: March
More informationTOPIC # 15 WRAP UP: CARBON RESERVOIRS & FLUXES OUT OF BALANCE! Major Carbon Fluxes IN & OUT of the atmosphere. IN BALANCE until RECENTLY
TOPIC # 15 WRAP UP: CARBON RESERVOIRS & FLUXES IN BALANCE until RECENTLY OUT OF BALANCE! Major Carbon Fluxes IN & OUT of the atmosphere http://www.youtube.com/watch?v=bbgue04y-xg&feature=player_embedded#!
More informationImproved tools for river flood preparedness under changing risk - Poland
7th Study Conference on BALTEX, Borgholm, Sweden, 10-14 June 2013 Improved tools for river flood preparedness under changing risk - Poland Zbigniew W. Kundzewicz Institute of Agricultural and Forest Environment,
More informationADVISORY BASE FLOOD ELEVATIONS (ABFEs)
The Department of Homeland Security s Federal Emergency Management Agency is committed to helping communities that were impacted by Hurricanes Katrina and Rita rebuild safer and stronger. Following catastrophic
More informationStrategies and approaches for long-term climate finance
Strategies and approaches for long-term climate finance Canada is pleased to respond to the invitation contained in decision 3/CP.19, paragraph 10, to prepare biennial submissions on strategies and approaches
More informationINTERGOVERNMENTAL PANEL ON CLIMATE CHANGE
WMO INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE UNEP INTERGOVERNMENTAL PANEL IPCC-XVII/Doc. 4 ON CLIMATE CHANGE (16.III.2001) SEVENTEENTH SESSION Agenda item: 5 Nairobi, 4-6 April 2001 ENGLISH ONLY FUTURE
More informationVulnerability and Adaptation to Climate Change in Small Island Developing States BACKGROUND
Vulnerability and Adaptation to Climate Change in Small Island Developing States BACKGROUND Dr. Graham Sem Sustainable Environment Management Limited 53 Warwick Avenue, Westmere Auckland, New Zealand E-mail:
More informationBACKGROUND When looking at hazard and loss data for future climate projections, hardly any solid information is available.
BACKGROUND Flooding in Europe is a peak peril that has the potential to cause losses of over 14 billion in a single event. Most major towns and cities are situated next to large rivers with large amounts
More informationPredicting Disaster, Managing Losses
Predicting Disaster, Managing Losses Thomas R. Loster GeoRisks Research, Munich Re Head of Weather/Climate Risks Research Finance, Environment and Sustainable Development Corporate Responsibility and Capital
More informationThe approach to managing natural hazards in this Plan is to: set out a clear regional framework for natural hazard management
10 Natural Hazards 10.1 Scope and Background This chapter establishes an overall framework for natural hazard management under the Resource Management Act 1991 (RMA). It also sets out the division of responsibilities
More informationSignificant Forecasting Assumptions
Summary of s The following general and financial s are assumed for the life of this Long Term Plan (2018-28). Level Consequence General s 1 Population Change Medium Low Minor 2 Household Change Medium
More informationSendai Cooperation Initiative for Disaster Risk Reduction
Sendai Cooperation Initiative for Disaster Risk Reduction March 14, 2015 Disasters are a threat to which human being has long been exposed. A disaster deprives people of their lives instantly and afflicts
More informationThis document is meant purely as a documentation tool and the institutions do not assume any liability for its contents
2009D0406 EN 01.07.2013 001.001 1 This document is meant purely as a documentation tool and the institutions do not assume any liability for its contents B DECISION No 406/2009/EC OF THE EUROPEAN PARLIAMENT
More informationTo protect their property
Organization National government MSB Swedish civil contingencies agency County administrative board of Skåne Interest MSB works: via knowledge enhancement, support, training, exercises, regulation, Coordinate
More informationCommittee Secretary 30/08/2017 Senate Standing Committees on Environment and Communications PO Box 6100 Parliament House Canberra ACT 2600
Committee Secretary 30/08/2017 Senate Standing Committees on Environment and Communications PO Box 6100 Parliament House Canberra ACT 2600 Submitted via email to ec.sen@aph.gov.au Dear Committee Secretary,
More informationArticle 6 of the Paris Agreement Implementation Guidance An IETA Straw Proposal
Article 6 of the Paris Agreement Implementation Guidance An IETA Straw Proposal This document outlines IETA s proposed thinking on Article 6 of the Paris Agreement in a negotiated text format that we call
More informationResilience to Flooding of Grid and Primary Substations
PRODUCED BY THE OPERATIONS DIRECTORATE OF ENERGY NETWORKS ASSOCIATION Engineering Technical Report 138 Resilience to Flooding of Grid and Primary Substations www.energynetworks.org PUBLISHING AND COPYRIGHT
More informationLOCAL FLOOD RISK STRATEGY EMYR WILLIAMS PEMBROKESHIRE COUNTY COUNCIL
LOCAL FLOOD RISK STRATEGY EMYR WILLIAMS PEMBROKESHIRE COUNTY COUNCIL Flood Risk Management We can only manage flood risk. It is not possible to prevent all flooding even if we had the money. There will
More informationThe AIR Typhoon Model for South Korea
The AIR Typhoon Model for South Korea Every year about 30 tropical cyclones develop in the Northwest Pacific Basin. On average, at least one makes landfall in South Korea. Others pass close enough offshore
More informationINFORMED DECISIONS ON CATASTROPHE RISK
ISSUE BRIEF INFORMED DECISIONS ON CATASTROPHE RISK Analysis of Flood Insurance Protection: The Case of the Rockaway Peninsula in New York City Summer 2013 The Rockaway Peninsula (RP) in New York City was
More informationCARIBBEAN DEVELOPMENT BANK SUPPORT FOR HAITI TO MEET COMMITMENT TO CARIBBEAN CATASTROPHE RISK INSURANCE FACILITY FOR THE HURRICANE SEASON
PUBLIC DISCLOSURE AUTHORISED CARIBBEAN DEVELOPMENT BANK SUPPORT FOR HAITI TO MEET COMMITMENT TO CARIBBEAN CATASTROPHE RISK INSURANCE FACILITY FOR THE 2017-2018 HURRICANE SEASON This Document is being made
More informationDECISIONS ADOPTED JOINTLY BY THE EUROPEAN PARLIAMENT AND THE COUNCIL
L 140/136 EN Official Journal of the European Union 5.6.2009 DECISIONS ADOPTED JOINTLY BY THE EUROPEAN PARLIAMENT AND THE COUNCIL DECISION No 406/2009/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of
More informationLocal Council Risk of Liability in the Face of Climate Change Resolving Uncertainties. A Report for the Australian Local Government Association
Local Council Risk of Liability in the Face of Climate Resolving Uncertainties A Report for the Australian Local Government Association Final 22 July 2011 DISCLAIMER This report on Local Council Risk of
More informationThe One Planet Sovereign Wealth Fund Framework
The One Planet Sovereign Wealth Fund Framework 06/07/2018 INTRODUCTION Following the adoption of the 2015 Paris Agreement in which parties committed collectively to mitigate the effects of climate change,
More informationG318 Local Mitigation Planning Workshop. Module 2: Risk Assessment. Visual 2.0
G318 Local Mitigation Planning Workshop Module 2: Risk Assessment Visual 2.0 Unit 1 Risk Assessment Visual 2.1 Risk Assessment Process that collects information and assigns values to risks to: Identify
More information