The world's financial services sector risks losses of up to $1 trillion if it fails to respond quickly to climate change and is hit by policy shifts such as the introduction of a carbon tax, a new report shows.
Global airport operators, faced with rising sea levels and more powerful storms as the climate changes, are starting to invest in measures including higher runways, seawalls and better drainage systems to future-proof immovable assets.
Emergency management officials on Wednesday scaled back their flooding forecasts for coastal South Carolina but urged residents not to be complacent as the rivers swollen by Hurricane Florence wreak havoc on the state.
The Task Force on Climate-Related Financial Disclosures was set up by the G20's Financial Stability Board at the end of 2015 to develop a voluntary framework for companies to disclose the financial impact of climate-related risks and opportunities.
Thousands of people in and around the city of Georgetown, South Carolina, were urged to evacuate on Monday as two rivers gorged with rain from long-departed Hurricane Florence will flood the area this week.
