Disasters cost billions—but who pays the price?

[ad_1] The recent California wildfires have reignited global concerns about climate change and its role in intensifying natural disasters. Beyond the immediate devastation, they have also highlighted a growing crisis in the insurance industry. It is the rise of insurance deserts—regions where access to insurance becomes scarce or nonexistent due to extreme risk and unsustainable…

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India must institute a robust framework for climate governance

[ad_1] While local governments and states have made strides in adaptation measures and community-driven initiatives, the country’s central institutional frameworks and governance mechanisms are not yet aligned with its goals.  Global experience underscores the need for a decentralized approach, empowering local governments and supported by robust legislation and financial incentives, to address diverse climate challenges….

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Climate change risk hits oil market

[ad_1] An offshore oil rig platform is photographed in Huntington Beach, California, U.S. July 4, 2024. | Photo Credit: Reuters From forest fires to hurricanes and other natural disasters: climate change risk is increasingly influencing oil prices, just as the world is struggling to shift away from high-polluting fossil fuels. Hurricane Beryl became the latest…

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