SchwartzReport: Insurance Companies Begin Acknowledging Climate Change, Break with Energy Industry Denials of Climate Change

03 Economy, 03 Environmental Degradation, Commerce, Cultural Intelligence, Earth Intelligence, Ethics
Stephan A. Schwartz
Stephan A. Schwartz

If you have been reading SR for some time you know I predicted this in the late 90s. Eventually a wide range of industries are going to be opposed to the carbon energy interests. This is an important trend, and one to watch closely.

Rift Widening Between Energy And Insurance Industries Over Climate Change

Being a big business, the insurance industry is a strong backer of free enterprise and its laissez-faire leaders. But a rift could be developing now that some major carriers are staking claims in the climate change cause while many of their congressional backers have remained skeptical of the science.

For insurers, it’s not about the political machinations but rather, it’s about the potential economic losses. If even part of the predictions hold – the ones released by the Intergovernmental Panel On Climate Change that ascribe temperature change to humans with 95 percent certainty – then the rate of extreme weather events will only increase and the effects would be more severe. That, in turn, would lead to greater damages and more payouts.

Read full article.

Phi Beta Iota: Climate Change is an opportunity to create a Smart Nation that can use ethical evidence-based decision-support to change its political economy from one of ignorance, ideology, and corruption, to one of openness, intelligence, and integrity.

See Also:

Climate Change @ Phi Beta Iota

Decision-Support @ Phi Beta Iota

Smart Nation @ Phi Beta Iota

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