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Oct 2022

Global Risk Review


Climate change can impact recyclable energy sources too

While the world moves away from coal and other fossil fuels and explores recyclable sources of energy like wind and solar, climate change may slow down the potential of these too in the coming years.
 


Record-breaking heatwaves 'normal' by 2035

The record-breaking heatwave experienced across Europe in the summer of 2022 will be considered an ‘average’ summer by 2035.
 


Cyber attack costs have risen by 80%

The frequency and the cost of cyber attacks are rising for US businesses and the pandemic is continuing to have lasting effects on the cyber security landscape, according to the specialist insurer  Hiscox.
 


Corporate giants to view water pollution as financial risk

Non-profit organisation Ceres has launched a new investor-led initiative to urge 72 of the world’s biggest corporate water users and polluters to value and act on water as a financial risk.
 


Discarded solar panels a toxic problem for landfills

Many of the solar panels that have outlived their utility and are now ready to be discarded are winding up in landfills, where in some cases, they could potentially contaminate groundwater with toxic heavy metals such as lead, selenium and cadmium, according to a recent story in Los Angeles Times.
 


Man-made crises add to Nat CAT burden

New research in the US has examined how the tragedies from hurricane Andrew ultimately paved the way for positive community safety innovations through modern building codes and enhanced regional mitigation initiatives.
 


Financial support for fossil fuels doubled in 2021

Overall government support for fossil fuels in 51 countries increased from $362bn in 2020 to $697bn in 2021, according to a new analysis by Organisation for Economic Co-operation and Development (OECD) and the International Energy Agency (IEA).
 


Floods, heatwaves and landslides - top three concerns in Southeast Asia

As Asia grapples with direct impacts from weather extremities, a new survey has revealed that floods, heatwaves and landslides are the top three climate change impacts that concern Southeast Asians.
 


As sea level rises, tax base goes down

By the year 2100 more than 1m properties in the US with a combined assessed value exceeding $108bn are projected to be at least partly submerged at high tide, according to a new report from the risk advocacy not-for-profit body Climate Central.