Potential claims liability against 5 big oil for cities with climate risk

$1.8trillion in compensation claims against 5 Big Oil is potentially at stake – twice their combined market capitalization – if all major cities with climate risk follow New York City’s lead

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New York City’s claim is paving the way to an enormous black hole in the share value of 5 Big Oil (and other oil companies too). The staggering sums scoping the size of their potential liability from climate-related claims is a warning to asset managers and pension fund administrators. The 5 Big Oil companies should […]

Pie chart showing the relative sizes of hits, near hits and misses for predicted disasters impacting certain vulnerable cities

PAL’s technology for predicting the ‘where and when’ of extreme weather-related disasters is on target for near 90% accuracy

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In 2015 a report “Small City, Regional and Global Predictions for 2015, 2016 and 2017” was sealed and lodged by Predict Ability (PAL) in the safe of a legal firm. The report was generated programmatically, using PAL’s proprietary prediction technology: this machine-generated report was designed to identify qualifying ‘disaster events’ predicted to occur within specified […]

ew York City climate-related losses attributable to CO2 emissions from the 5 Big Oil companies’ gas and oil products, is down from its 1973 ‘oil crisis’ peak.

New York City’s claim on 5 Big Oil: the dates that make the difference to the dollars

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An estimated $19billion will be needed to fund the infrastructure to protect New York City from storm surges such as 2012’s Super Storm Sandy, that are bound to come again and come more frequently. Mayor de Blasio’s primary claim against 5 Big Oil (BP, ExxonMobil, Chevron, ConocoPhillips and Royal Dutch Shell) implies – correctly – […]

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

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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 […]

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

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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 […]

A new carbon pricing methodology closely fits a major US study

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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

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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 […]

PAL Climate Risk Index (CRIX) August figures now available

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  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 […]

PAL Carbon Loss Index (CLIX) August figures now available

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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 […]

PAL Climate Risk Index (CRIX) July figures now available

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  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, […]