[MCN] Sustainability: Insurance industry is formally processing its climate risks

[Lance Olsen]

2nd and 3rd of first 3 paragraphs:  [bold added]

"California has one of the largest insurance markets in the United States, and the sixth largest insurance market in the entire world. All of this adds up to $289 billion a year in insurance premiums that companies collect and over $7.5 trillion dollars in assets that these companies hold. Commissioner Jones is the leader of a multi-state effort that administers the National Association of Insurance Commissioners (NAIC) Climate Risk Disclosure Survey, and he launched the California Department of Insurance Climate Risk Carbon Initiative requiring the reporting of fossil-fuel investments held by insurance companies.

"Commissioner Jones discussed the NAIC Climate Risk Disclosure Survey with the E2 Group. This survey, consisting of questions that assess insurers’ responses to climate change <http://www.sustainablebrands.com/news_and_views/business_models/sustainable_brands/report_more_us_insurance_companies_preparing_clima>, was developed in 2009 as a mandatory survey for large companies. Three years ago, insurance regulators in California and five other states — Connecticut, Minnesota, New Mexico, New York and Washington — mandated completion of the survey by insurers writing in excess of $100 million in premiums.”

See it all here:
http://www.sustainablebrands.com/news_and_views/finance_investment/megan_morrice/what%E2%80%99s_climate_risk_your_insurance_company <http://www.sustainablebrands.com/news_and_views/finance_investment/megan_morrice/what%E2%80%99s_climate_risk_your_insurance_company>



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“In 1972, pursuing his calculations of ice-cover feedbacks, Budyko declared that, at the rate we were pumping CO2 into the atmosphere, the ice covering the Arctic Ocean might melt entirely by 2050."

“Most scientists spoke more cautiously.”

Physics Today (American Institute of  Physics)
http://scitation.aip.org/content/aip/magazine/physicstoday/article/56/8/10.1063/1.1611350






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