Tag: Insurance

The philosophy of PAL is to tax carbon impact across all energy types and use the revenue to fund AIMS:

  • Adaptation – improving the capacity of vulnerable communities to weather climate change,
  • Insurance – enabling insurance companies to bear the costs of climate change and sustain their contractual commitments,
  • Mitigation – incentivising the transition to low-carbon energy sources,
  • Social dividend – ‘micro-insurance’ schemes, administered by the insurance industry, the UN and the World Bank, to offset the impact of carbon pricing.

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

Posted on adminPosted in Press Releases

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.     Insurance companies should collect a carbon levy : Nature News & Comment was last modified: September […]

Insurance companies should collect a carbon levy : Nature News & Comment was last modified: September 13th, 2017 by admin
cyclone gafilo

The Insurance Industry is already hammered by climate change – to punish it with heavy taxes is madness

Posted on Bruce MenziesLeave a commentPosted in Chairman’s Blog

The forthcoming InsiderScope panel discussion ‘Reinsurance: survival tactics in a brutal market’ on 9 May 2017 is timely. The Insurance Industry is being hammered relentlessly by the devastating effects of manmade climate change and the resulting claims payouts. At PAL, we estimate that the percentage increase in insured loss and damage attributable to global warming […]

The Insurance Industry is already hammered by climate change – to punish it with heavy taxes is madness was last modified: October 26th, 2018 by Bruce Menzies

Carbon Pay ® : The Third Way

Posted on adminLeave a commentPosted in Publications

Carbon Pay ® is a scientific revolution in carbon pricing that identifies and protects against carbon liability. Cap and trade is too cumbersome. Carbon tax is too political. Carbon Pay scientifically formulates the right price of carbon, identifies the revenue payable by corporations and enables them to allocate it to formally approved projects, thereby visibly […]

Carbon Pay ® : The Third Way was last modified: September 6th, 2018 by admin

Fact Sheet: Reinsurance Event Attributed Carbon Tax – REACT

Posted on adminLeave a commentPosted in Publications

In 2015 Predict Ability Ltd (PAL) introduced the Reinsurance Event Attributed Carbon Tax (REACT) system, which was originally designed to put a price on the financial loss and damage arising from carbon emissions. REACT measures the expected losses that will occur for each tonne of carbon dioxide emitted. Further, it determines the allocation of the […]

Fact Sheet: Reinsurance Event Attributed Carbon Tax – REACT was last modified: September 6th, 2018 by admin

How will global warming impact insurance claims?

Posted on Richard ClarkeLeave a commentPosted in Blog

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. […]

How will global warming impact insurance claims? was last modified: May 12th, 2017 by Richard Clarke
PAL drought

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

Posted on Edward CoeLeave a commentPosted in Press Releases

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 […]

Cost of carbon update for the first half of 2016: Increase in extreme weather drives up the cost of carbon emissions was last modified: October 26th, 2018 by Edward Coe

PAL Loss Prediction Review for the first half of 2016

Posted on Edward CoeLeave a commentPosted in Press Releases

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 […]

PAL Loss Prediction Review for the first half of 2016 was last modified: January 4th, 2019 by Edward Coe

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

Posted on Edward CoeLeave a commentPosted in Press Releases, Publications

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 […]

New Book “Predicting the Price of Carbon: How to Crack the Climate Change Code for Good” Out Now was last modified: October 26th, 2018 by Edward Coe
didcot power station, the price of carbon

Twenty Billionth Dollar | Carbon Damage 2016

Posted on Edward CoeLeave a commentPosted in Blog

PAL estimated natural disaster damages attributable to climate change for 2016 so far are   $32,286,000,000   This is based on a carbon global one year carbon price of $22.84 /tCO2 and estimated carbon emissions for 2016 of 39,039,100,000 tCO2. Refer to  the 2015 Carbon Liability Clock for a comparison to what happened in the previous year. Twenty Billionth Dollar […]

Twenty Billionth Dollar | Carbon Damage 2016 was last modified: August 8th, 2017 by Edward Coe

Twenty Billionth Dollar | Carbon Damage 2015

Posted on Edward Coe1 CommentPosted in Blog

PAL estimated natural disaster damages attributable to climate change for 2015 alone were   $41,940,101,558   This was based on a carbon global spot price of $31.78 /tCO2 and estimated carbon emissions for 2015 of 37,612,665,419 tCO2. Twenty Billionth Dollar | Carbon Damage 2015 was last modified: August 8th, 2017 by Edward Coe

Twenty Billionth Dollar | Carbon Damage 2015 was last modified: August 8th, 2017 by Edward Coe