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May 06, 2004
Global Warming's Bottom Line
Global Warming's Bottom Line (thanks mom!):
JUST AS ENRON and other off-sheet accounting debacles spelled disaster for many US investors, evidence shows that global warming could do the same. Without aggressive action to reduce the financial risks that global warming poses for companies, trillions of dollars of Americans' investments, many of them controlled here in Boston, will be jeopardized.
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Worldwide insurance claims for extreme weather events and disasters like drought and forest fires have jumped tenfold in the last 40 years, hitting $55 billion in 2002. So serious is this issue that the world's second-largest reinsurer, Swiss Re, is telling its corporate clients to come up with strategies for handling global warming or risk losing their liability coverage.
Posted by sam at 06:31 PM | Comments (0)