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What you need to know

Swiss RE: we’re not pricing insurance high enough

This matters? Yes. These guys insure the insurance companies.
What do they want? Premiums to go up, as climate risk is not being priced properly. Some locations are now ‘uninsurable’.
Read more: Reinsurance News

Fossil ships to become ghost fleets - $875bn to be smoked

Fossil fuels use ships? Uh-huh. One-third of all ships are for fossil fuels - 13,000 tankers, 3,000 LNG, and 2,500 bulk carriers.
We won’t need them? Nope, says a new study from UCL. That’s a lot of value destruction.
Read more: UCL/Kunhe Foundation; FT.com 

UK giant orders 550 suppliers to decarbonise or stop supplying

Big! Kingfisher (owner of Screwfix, B&Q in the UK) is telling its vendors to adopt SBTi emissions targets.
Your challenge Sell to big companies? Most of their emissions are Scope 3—from suppliers like you. To continue to sell, you have to drop carbon.
Read more: Edie.net

One thing to worry about, everywhere

Extreme weather.

• Greece’s heatwave shutting schools (Reuters)

• Rebuild or leave? Brazilians choose as floods destroy 450+ towns (NBC)

• Riots in Algeria due to water shortages (AP)

• Central America faces 4 feet of rain in next fortnight (@weatherprof)

• Mexico City residents go hours without running water - soon will have none at all (The Energy Mix)

• North China sweltering at 42°C (Straits Times)

• Florida declares a State of Emergency due to rain (AP) - weeks after enacting an anti-climate law 🤪

• Middle East facing 50°C+, 36°C at night (@extremetemps)

Oh, and May was the hottest on record (@noaa). That’s 12 consecutive months 😳.

One thing to be optimistic about

Some say solar will generate a waste mountain. Well, no.

A new study in Nature found that solar waste is a fraction of what we’re already dealing with.

Solar is glass, metals, silicon and plastic… already 95% recyclable.

If you’ve got more time, read this…

Want to be cheered up? Read the wonderful new report from RMI “The Cleantech Revolution: It’s exponential, disruptive, and now.”

Key message? Be ready for a different future.

People think change is slow. It’s not - it’s fast & accelerating

• The energy system is being transformed: Clean tech costs down 80%,

  investment up 10x, and efficiency dropped demand 20%

• The fossil fuel system faces inexorable decline. 75% of fossil assets replaceable with cleantech right now.

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