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Fact Sheet: The PAL Carbon Loss Index – CLIX

In 2015 Predict Ability Ltd (PAL) introduced the PAL Carbon Loss Index (CLIX), which was specifically designed to put a price on the financial loss and damage arising from carbon emissions. CLIX uses the Reinsurance Event Attributed Carbon Tax (REACT) system and publishes intraday prices based on latest emissions, loss & damage and global surface temperature anomaly data. Read the full fact sheet …

Hinkley Point C Nuclear Power Station will save £40 billion in climate damages

Hinkley Point C Nuclear Power Station – Enhanced Carbon Audit LCA Case Study This report published by PAL focuses on the proposed 3.2 GW Hinkley Point C nuclear power station. Its aim is to track direct and indirect carbon emissions over the total lifetime of the plant – cradle to grave – and to determine a more representative monetary impact  in terms of the loss and damage caused by manmade climate change.  The main findings are outlined below.   1. Hinkley C will save £40 billion in climate damages As illustrated in Fig. 1, compared to a series of gas fired power plants…

How long will carbon emissions remain in the atmosphere?

How long will anthropogenic (man made) CO2 remain in the atmosphere? It is an easy question to ask.  There is no simple answer, although ‘forever’ is a good and somewhat terrifying approximation.  However,  it partly depends on how fast we emit the CO2 and at what concentration we stop emitting CO2. “Equilibration among the various carbon reservoirs of the atmosphere, the ocean and the terrestrial biosphere occurs on timescales of a few centuries” say David Archer et al. at the University of Chicago29. There is considerable variation amongst the mathematical models available.  Archer et al. note that “a sizeable fraction…

How will global warming impact insurance claims?

In Science magazine, one of the leading US research journals, there is a comprehensive overview of the evolving impact of climate change on the insurance industry by Evan Mills[17], a senior scientist at LBNL (Lawrence Berkeley National Laboratory).  Mills is a respected chronicler of the insurance industry’s action on climate change.  One graph stands out.  It shows data obtained by a long-established US insurance firm, the Hartford Steam Boiler Inspection and Insurance Co.  Along the y-axis was temperature (°F) and on the x-axis were the number of claims filed in several north eastern US states for lightning strikes.  Several years’…

New Publication “Hinkley Point C Nuclear Power Station Enhanced Carbon Audit LCA Case Study” available for pre-order

Predicting the Price of Carbon Supplement 1: Hinkley Point C Nuclear Power Station Enhanced Carbon Audit LCA Case Study Uniquely, in today’s emerging arena of carbon auditing, Predict Ability Ltd (PAL) offers future-proofed carbon-pricing relevant to every industry as well as all existing and future energy sources. PAL’s new development is called ‘Enhanced Carbon Auditing’ (ECA) and far exceeds the reach of conventional carbon-auditing remits, by quantifying the associated financial impact throughout the Life Cycle Assessment (LCA) – currently and, most notably, to 2050 and beyond. The credibility of low-carbon energy and renewables technologies rests, to a significant extent, on…

PAL drought

Cost of carbon update for the first half of 2016: Increase in extreme weather drives up the cost of carbon emissions

The cost of carbon – losses arising from extreme weather events attributable to cumulative causal carbon emission – for 2015 was $12.27 per tonne of carbon dioxide (previous year $12.67, down 3%). For the first half of 2016, the cost has increased to $12.44 on the back of extreme weather events reported by Munich Re recently. Over US$20bn of losses were attributed to heavy storms bringing hail, torrential rain and flash floods in the US and Europe, and losses of US$3.6 bn were attributable to El Niño related wild fires in the Canadian province of Alberta caused by extreme heat…

PAL Loss Prediction Review for the first half of 2016

Losses caused by natural catastrophes in the first half of 2016, as reported by Munich Re recently, were significantly higher than the corresponding figures for the previous year, despite the total number of loss events being significantly lower.  Total losses by the end of June came to US$ 70bn compared to the previous year being US$ 59bn for the same period. There were a total of 350 total  loss events reported for the first half of 2016, compared to 510 for the same period in the previous year. The main loss events were powerful earthquakes in Japan and Ecuador, storms…

PAL joins World Bank PMR Roster of Experts

We are pleased to announce Predict Ability Ltd has joined The World Bank Partnership for Market Readiness roster of experts. Predict Ability Ltd (PAL) is committed to supporting the adoption of a universal and transparent carbon price.  PALcarbon is a real-time carbon pricing and reporting system for clients that takes into account the real cost of damage caused by carbon emissions.  PALgamma is a computing risk engine for forecasting extreme weather related disaster events and identifying the impact of man-made climate change.  Predicting the Price of Carbon: How to tackle the climate change code for good is a recent publication…

New Book “Predicting the Price of Carbon: How to Crack the Climate Change Code for Good” Out Now

Predicting the Price of Carbon How to Crack the Climate Change Code for Good Without a global price for carbon there can be no sustainable solution to the already unstoppable impact of climate change. It’s the one key factor that virtually all leading environmentalists, international bankers, energy giants, scientific experts and policy makers worldwide agree is both vital and increasingly urgent. Agreement on how to establish that price has proved elusive and contentious. In his easy yet elegant style, Richard Clarke demonstrates that the cost of carbon can be scientifically determined. He explains how to analyse and isolate the damage…

A financial comparison of climate change impacts at 1.5C and 2C

An article caught my eye recently: Scientists compare climate change impacts at 1.5C and 2C by Carbon Brief. We have some insight into the interconnectedness of extreme weather events and climate change, so we decided to take a look at the effect a 1.5°C at 2°C world might have on the expected financial loss and damage arising from extreme weather events.

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