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Jul 2023

Global Risk Review


World's largest lakes are shrinking

The world’s freshwater sources have been losing approximately 22 gigatonnes of freshwater annually for more than 30 years according to a new study.
 


Gen Z and millennials switch jobs over climate concerns

A new survey conducted by the professional services firm Deloitte has revealed that more than 40% of Gen Z and millennials have changed jobs or sectors due to climate concerns or plan to do so in the future.
 


Arctic summers could soon be with no sea ice

The Arctic could begin to have summer months with no sea ice sometime by around 2050, sooner than earlier predicted according to a new research study.
 


Autonomous trucks will never fully replace human drivers

While the US department of transportation believes automated driving systems will become the norm, 52% of those in the transportation industry say they are uncomfortable with the idea of riding in an autonomous truck according to a new survey by JW Surety Bonds.
 


Liability risk considerations in insuring AI

In cases where an AI-related error or failure occurs, liability insurance may need to step in to address AI-related losses according to the National Alliance for Insurance Education & Research.
 


Electric cars are more harmful

The manufacturing, use and scrapping of electric cars produces around 15% to 50% more greenhouse gases (GHGs) than hybrid and conventional engine cars according to a new study conducted by the Engine Research Lab of Indian Institute of Technology (IIT) Kanpur.
 


New move on banning vague 'green' claims

The European Council (EC) has adopted a ‘negotiating mandate’ on the proposed directive to empower consumers for the green transition, which aims at enhancing consumers´ rights by amending the unfair commercial practices directive (UCPD) and the consumer rights directive (CRD).
 


Investment in clean energy to eclipse oil production

Investment in clean energy technologies is significantly surging ahead of the spending on fossil fuels according to a new report by International Energy Agency (IEA).
 


New net-zero benchmark principles

The Institutional Investors Group on Climate Change (IIGCC) has released a new report outlining how index providers can enhance net-zero benchmarks.
 


Australia: Insurers asked to 'do the right thing'

Yarra Ranges council in the Victoria state of Australia has asked insurers to help ensure customers rebuild to current standards two years after damaging storms felled large trees and caused widespread property damage in the ranges.
 


Are younger generations more tolerant of fraud?

Younger generations in the US tend to show a high level of tolerance to insurance fraud according to a new survey of insurance consumers.