About: climate risk

Climate change 12-11-2021

Raising climate finance alone is not enough – it must also target disaster prevention

For a growing number of populations around the world, facing a future of more frequent and extreme disasters will only be possible if more funding is channelled towards adaptation and disaster risk reduction, writes Mami Mizutori.
Valdis Dombrovskis and Mairead McGuinness
Economy & Jobs 27-10-2021

Commission wants more capital buffers for EU banks – in about a decade

Through a newly proposed banking package the EU commission is trying to find a balance between increasing financial stability, protecting bank profits and sustainability concerns.
Climate change 18-10-2021

Fiscal reform and why it matters for climate

The EU's economic governance must drive climate action for a just transition, not austerity, writes Isabelle Brachet.
Economy & Jobs 23-09-2021

Investments, Climate, Stability: Goals of European Commission’s Solvency II proposal

With a proposal to reform the Solvency II directive, the European Commission aims to make the insurance industry an ally in achieving the Commission's political priorities.

ECB pledges to factor climate change more into policy

The European Central Bank said on Thursday (8 July) that it would further incorporate climate change considerations into its monetary policy, including on disclosure, risk assessment, and decisions on collateral and corporate sector asset purchases.

EU watchdog tells banks to have a 10-year climate plan

Banks in the European Union must have a 10-year plan spelling out how they will deal with environmental, social and governance (ESG) risks to their bottom line, the bloc's banking watchdog said on Wednesday (23 June).
Climate change 02-04-2021

Europe’s heat and drought crop losses tripled in 50 years: study

The severity of crop losses driven by heat waves and drought have tripled in the last fifty years in Europe, according to a study that highlights the vulnerability of food systems to climate change.
Climate change 25-02-2021

EU unveils data-driven climate adaptation strategy, drawing green criticism

More and better data is needed to improve knowledge of how to adapt to climate change, according to the European Commission's new adaptation strategy, which immediately came under fire from green activists for missing binding targets.

Europe’s adaptation strategy to tackle human cost of climate change

The EU's climate adaptation strategy, due to be unveiled on Wednesday (24 February), will aim to tackle the human cost of climate change, both within Europe and around the world, amid calls from trade unions to reinforce protection for the most exposed workers.
Economy & Jobs 27-01-2021

Europe strongly impacted by extreme weather, says new Climate Risk Index

The Berlin-based think tank Germanwatch published its Climate Risk Index for this year just in time for the virtual Climate Adaption Summit (CAS2021). The Global South tends to suffer more from extreme weather than the North, but Germany is also been among the 20 most severely affected countries worldwide over the past 20 years.

European Central Bank sets up climate team, considers green bonds

Climate change will be key to the review of the European Central Bank's policy, its president, Christine Lagarde, announced on Monday (25 January), marking a possible shift towards 'greener' monetary policy.

While coal premiums soar, insurance groups still supports oil and gas

Insurance companies have accelerated their withdrawal from coal this year, making it costlier to secure insurance for new projects. However, the insurance industry is still underwriting oil and gas companies, according to new research.

Insurers call for more proactive EU climate change adaptation plans

The European Union's strategy to adapt to the risks of climate change needs to be much more proactive and ambitious in order to reduce the risk of natural disasters such as flooding, insurers said in response to a consultation on the issue.

Europe plans to harness ‘power of data’ in support of Green Deal

The EU Green Deal “needs digitalisation as an enabler for decarbonisation” in all sectors of the economy, including transport and energy, the European Commission says in a draft policy document, seen by EURACTIV.

French financial sector poorly accounts for climate risks, says Bank of France

In a note published on Friday (25 October), the Bank of France noted that the risks associated with climate change are taken into account in a "partial and heterogeneous" manner by France's financial institutions. EURACTIV's partner La Tribune reports. 

Cost-benefit analysis does not work well for wicked problems like climate change

What is the monetary value of being able to breathe in Beijing or New Delhi without discomfort? Beyond the simple numerical challenges, cost-benefit analysis has an inherent ethical blind spot, writes Kevin Noone.
Climate change 07-06-2019

When climate action means better roads

The European Investment Bank is stepping up its climate adaption projects in developing countries, and that means building roads and infrastructure that can better cope with natural disasters, write Luca Lazzaroli and Léon Faber.

A new European agenda for climate resilience

As the 2019 EU elections loom and a new European Commission takes office, climate action can become a key driver of a reformed EU project for more solidarity, protection and innovation, writes Luca Bergamaschi.

Europe urged to bolster defences against climate, cyber risks

Nations across the globe should step up preparations against global risks such as climate change and cyber attacks, EU officials say, as these areas remain the most pressing for global experts surveyed ahead of this year's World Economic Forum (WEF) taking place in Davos next week.

Banks pressed to evaluate risks linked to ‘natural capital’

While the assessment of financial risks caused by climate change – like floods and storms – is becoming more widespread in the financial community, the evaluation of broader environmental risks like deforestation or ocean pollution is still a major blank spot for bankers.
Climate change 14-12-2018

Climate change is a problem of politics, not science

The scientific, economic and social arguments for aggressive action on climate change are powerful. Our political leaders are now at a fork in the road and our children and grandchildren are watching, write Valérie Masson-Delmotte and Jiang Kejun.

‘Loss and Damage’ emerges as crunch item at COP24

There is still no clear picture in Katowice on how to provide a readily available funding mechanism for developing countries affected by extreme weather events.

Green transition: ECB and budgetary authorities should face their responsibilities

Reforming the rules for coordinating budgetary and economic policies in the eurozone is a necessity to conciliate economic, social and climate objectives, write Olivier Bodin and Michael Vincent.
Climate change 10-12-2018

Climate change and development aid: The economic case for prevention

Climate change affects developing countries more heavily, with broad impacts on the environment and the economy, insurers say, highlighting the need to act before damage is done.