The increased flooding caused by climate change creates a hidden financial risk for homeowners that the insurance industry is failing to address. A recent study from the First Street Foundation, a non-profit organization dedicated to quantifying flood risk in the U.S., found the current flood risk to homes to be vastly underestimated by insurance companies. The study identified almost 4.3 million homes with a substantial flood risk, and found if all of these homes were properly insured against this risk through the National Flood Insurance Program, insurance premiums would need to multiply almost five-fold.
Weekly Climate News
November 12, 2020
A community conservation initiative to revitalize mangrove forests, a resource for fish and medicines as well as a natural mosquito repellant, is financing women’s businesses in Kenya.
A new research study indicates that hurricanes may be retaining surge strength once they move inland from coastal areas as a direct result of climate change.
Hurricane Eta made landfall in Florida, drenching the state in torrential rain and strong winds.
Data from acoustic and oceanographic instruments recovered by the Norwegian Coast Guard from iced-over waters north of Alaska will provide essential information for scientists researching Arctic Ocean climate changes.
A biotech startup in Singapore is making milk without animals or humans.
Renewable electricity installation is on track to hit global records in 2020, according to the International Energy Agency.
Austin, Texas plans to invest $7 billion on a new transit system which will include a 31-station rail system, rapid bus routes and bike lanes. $460 million will be allocated specifically to infrastructure for enhancing walking and biking throughout the city.
Rising sea levels may threaten two-thirds of NASA’s infrastructure, so they are taking steps to prepare. Read about it here.
Air pollution may cause threats to honey bee populations.