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$23-billion Carbon Loophole at Drax: CO2 emissions disclosure requirements legitimately conceal the true cost of damage to the planet

This new case study shows how PAL’s Carbon Value at Risk (VaR) metric is used to determine the extent of carbon liability risk – the potential cost of damage attributable to carbon emission related anthropogenic (manmade) climate change. For users of biomass as a fuel source such as Drax power station, it highlights a potential $23bn ‘black hole’ between the expected loss and damage caused by carbon dioxide emissions over the next 25 years ($33bn) and equivalent loss and damage where biomass emissions are excluded ($10bn).  

What is climate change costing your business? $760 Billion or 25% of the FTSE100 is at risk

Global warming, caused by CO2 emissions released into the atmosphere by burning fossil fuels, currently costs global GDP a staggering $1 trillion in damages p.a. Small wonder the UN, IMF and World Bank have all called for a carbon price: policy makers in government and corporations urgently need this price so they can account for the true cost to humanity of their decisions, activities and investments.   Way ahead of the curve, PAL is the ONLY company in the world to have scientifically determined the true carbon price, based on the loss and damage caused by extreme weather events attributable…

A new carbon pricing methodology closely fits a major US study

An algorithm-based calculation of the economic damage from climate change compares well with a study led by Prof. Solomon Hsiang of the University of California at Berkeley.

A Universal Carbon Tax to fund climate change mitigation

Manmade climate change is a global problem that requires a global solution. Proposed here is a fair and sustainable Universal Carbon Tax whereby all countries pay a carbon tax that dynamically factors in: Historic, current and future carbon emissions The differences between developing and developed economies A scientifically defendable carbon price, based on loss and damage Unlike existing schemes and frameworks, it is independent of: Political diktat Market forces Future energy usage patterns making it demonstrably fair to citizens worldwide. The following figure from Predict Ability Ltd gives a simplified illustration of how it works: The vertical axis shows a…

PAL Climate Risk Index (CRIX) August figures now available

  PAL announces Climate Risk Index (CRIX) data for August 2017 is now available. August CRIX is 1,185.36, up 0.4% on the previous month. The index is down 6.7% on the same period last year, and it’s 1,273 all-time high in September 2016. Published at the beginning of each month, the PAL Climate Risk Index (CRIX) provides a measure of the financial loss and damage arising from anthropogenic climate change. It utilises worldwide insurance loss data arising from extreme weather events (meteorological, hydrological, climatological). Dating back to January 1980, historical index values have been produced by the PALgamma catastrophe risk system and…

PAL Carbon Loss Index (CLIX) August figures now available

PAL announces Carbon Loss Index (CLIX) data for August 2017 is now available. August CLIX is valued at $16.47 per tonne CO2, down 1.2% since July. The index is 11.5% down on the same period last year. Published each month, the PAL Carbon Loss Index (CLIX) provides a benchmark for carbon pricing by quantifying the global financial loss and damage arising from carbon emissions. Dating back to January 1980, historical CLIX index values have been produced by the PALcarbon pricing system and are based on the Reinsurance Event Attributed Carbon Tax (REACT) methodology. Request the full report…  

PAL Climate Risk Index (CRIX) July figures now available

  PAL announces Climate Risk Index (CRIX) data for July 2017 is now available. July CRIX is 1,180.59, up 0.7% on the previous month. The index is 6.3% lower than the same period last year, and is some 7.3% off the 1,273 all-time high back in September 2016. Published at the beginning of each month, the PAL Climate Risk Index (CRIX) provides a measure of the financial loss and damage arising from anthropogenic climate change. It utilises worldwide insurance loss data arising from extreme weather events (meteorological, hydrological, climatological). Dating back to January 1980, historical index values have been produced…

PAL Carbon Loss Index (CLIX) July figures now available

  PAL announces Carbon Loss Index (CLIX) data for July 2017 is now available. July CLIX is valued at $16.67 per tonne CO2, unchanged since June. The index is 8.5% lower than the same period last year, and is some 40% off the all-time high back in March 2016 when the index broke through $28. Published each month, the PAL Carbon Loss Index (CLIX) provides a benchmark for carbon pricing by quantifying the global financial loss and damage arising from carbon emissions. Dating back to January 1980, historical CLIX index values have been produced by the PALcarbon pricing system and…

Insurance companies should collect a carbon levy : Nature News & Comment

PAL announces that our Director of Research Richard H. Clarke, in conjunction with Dr Anthony J. Webster (University of Oxford) have their article Insurance companies should collect a carbon levy published in Nature News & Comment today.    

Twilight view of Boulder looking toward the Rockies

Boulder’s energy tax is the right idea – but energy sources matter

Taxing all energy – not just fossil fuels – will smooth decarbonisation and future-proof paying the cost of the loss and damage attributable to manmade climate change that will prevail for centuries – long after carbon emissions cease altogether. To incentivise the transition from ‘dirty’ high-carbon fuels to ‘clean’ low-carbon fuels or energy, requires a strong carbon tax signal that relates directly to carbon emissions. That may be stating the obvious. What is less obvious, however, is that carbon taxes must be applied to all energy types and not just fossil fuels.

Posts | Wall was last modified: February 14th, 2018 by admin