Gallagher Re has estimated that global insured losses from natural catastrophes in Q1 of 2024 were $20 billion, heavily driven by severe convective storm (SCS) activity in the US. According to the global reinsurance broker’s Natural Catastrophe & Climate Report, insured losses in Q1 2024 were 10% higher than the decadal average of $18 billion. […]
The Board of Directors of the African Development Bank Group (AfDB) has approved a $50 million loan for the Yobe State Environmental and Climate Change Action Project (ECCAP) to enhance climate change resilience, boost food security, and improve livelihoods for over 3.5 million people in North East Nigeria. A news report from African Press Organisation […]
The Swiss Re Institute has reported that global insured losses from natural catastrophes surged to $108 billion for the fourth consecutive year in 2023, with the earthquake in Turkey and Syria, severe convective storms (SCS) and large-scale urban floods acting as the main drivers. A news report from the Institute indicated that total global insured […]
The Farm and Infrastructure Foundation, a civil advocacy organization at the frontline of food security in Nigeria, has charged Nigerians to join forces in ensuring that governments in the country prioritize policies and programmes that will ensure food security as their fundamental human right in the years ahead. Giving the charge during a statement on […]
The Central Bank of Nigeria (CBN) has announced its donation of over two million bags of fertilizers with a total value of N100 billion to farmers nationwide. The apex bank governor, Yemi Cardoso, delivered the bags of fertilizers to the Minister of Agriculture and Food Security, Abubakar Kyari, on Wednesday in Abuja. According to him, […]
The US’ Securities and Exchange Commission (SEC) has adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. The final rules, which were adopted on Wednesday,reflect the Commission’s efforts to respond to investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks on a […]
Liquid C2, a Cassava Technologies firm, has announced collaborations with global technology leader Google Cloud and artificial intelligence (AI) company Anthropic to deliver advanced cloud, cyber security solutions, and generative AI (gen AI) capabilities to African businesses across the continent. The initiative by Liquid C2 following last November’s signing of a Memorandum of Understanding (MOU) […]
A new report by the Swiss Re Institute has indicated that climate change will have a larger impact on economic losses in the future, with the US and Philippines projected to be the hardest hit. The report listed four key weather perils, namely floods, tropical cyclones, winter storms in Europe, and severe thunderstorms, which are […]