As 2022 winds down and we look back, the biggest story (other than the war in Ukraine) was the passage of the most historic climate law in US history, the Inflation Reduction Act (Act). The new law aims to transform the US economy to align with the global urgency of taking action to mitigate the... Continue Reading →
Insurance is a bottom-line business. It’s a simple concept: collect a premium now for what you can predict is the future need for coverage of the transferred risks. In practice, however, it is a complex and somewhat speculative wager on factors that are beyond the insurer’s control. In today’s environment, when material prices are unpredictable,... Continue Reading →
Hurricane Ian hit the west Florida coastline with winds in excess of 120 miles per hour. The hurricane flooded cities and devastated homes across Florida and coastal South Carolina. According to Enki Research, Hurricane Ian’s projected economic damage could be as high as $75 billion, and may end up among the five costliest to hit... Continue Reading →
Flood maps used by the Federal Emergency Management Agency (FEMA) are out-of-date and understate the risks to homes and businesses from flooding and extreme rain triggered by climate change. One study came to the same conclusion: a 2020 evaluation of flood risk by the non-profit group First Street Foundation, which analyzed every property in the... Continue Reading →
The relationship between business and climate change involves both risks and opportunities. Three risks, in particular, deserve close consideration as each of them highlights business opportunities for the future. Transition Risks What are they? These are the business risks design and construction firms face related to changes in the policy and regulatory landscape; in other... Continue Reading →
Climate change risks may seem too colossal and global for most businesses to be relatable, especially for non-publicly traded companies. Soon enough, however, all businesses will need to take stock and internalize business model impacts of climate change—the transition risks and opportunities— and climate change impacts on business—the physical risks of rising temperatures and related... Continue Reading →
Now that we have a global agreement in place on climate change, which more definitively sets greenhouse gas emissions reduction targets and timelines, all eyes are set on the question as to how each country, including the US, will achieve its commitments. For the US, legislation and executive agency action are two important pieces to... Continue Reading →
The COP26 (Conference of the Parties) climate talks took place in Glasgow over the first two weeks of November. These meetings between heads of state around the world may seem far removed from your daily business concerns, but in reality, the actions taken and resulting agreements may have far-reaching consequences for your business model, including... Continue Reading →
During the 2020 Biden campaign, climate change was a priority issue. Consistent with that messaging, the administration is now plowing forward with urgent and sweeping climate mitigation policy proposals that will significantly impact the power, transportation, building, waste, and industrial sectors. Navigating the policy and regulatory implications for business models takes time, but the risks... Continue Reading →
Both local and state governments continue to pledge commitments to achieving net-zero emissions by 2050 or sooner. While aspirations are high and worthwhile, and even more are in fact needed, the details on how to meet those pledges have been scarce, confusing, and fraught with political hand-wringing. Indeed, the complexity of solving for climate change... Continue Reading →
