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Insurance and Climate Change column

Climate Concern Dropped Amid the Pandemic, but Not for Everyone

By | October 20, 2022

Evidently, climate concern dropped last year.

A new Gallup World Risk Poll shows fewer than half of those questioned said climate change poses a “very serious threat” to their nations in the next 20 years.

It was down overall, but figures varied globally. It rose in the U.S. to 51.5%, while in China climate concern was down to 20%.

A noted that regions with the highest threats were among least concerned about climate change: 27.4% of the Middle East and North Africa and 39.1% of South Asian respondents were concerned about climate risks.

The study’s authors explained that other concerns, including concerns about the pandemic, may help explain the drops.

The findings come ahead of the next round of global climate talks in Egypt in November for the COP27.

Despite the drop in in climate concern, the climate change impacts are growing.

“A study by the Institute for Economics and Peace of 228 countries and territories found that 750 million people globally are now affected by undernourishment and climate change as well as rising inflation, and Russia’s war in Ukraine will exacerbate food insecurity in the future,” the Reuters report states.

More on Concern

University students may be an exception to the above-mentioned poll.

A study that, at the surface, may seem to run counter to the Gallup World Risk Poll, found that young people worldwide are concerned about climate change.

The study focuses on youths, particularly those at universities, so that may explain the difference in findings.

A covering 32 countries found that “climate anxiety is positively related to rate of exposure to information about climate change impacts, the amount of attention people pay to climate change information, and perceived descriptive norms about emotional responding to climate change.”

The study surveyed 12,000 university students. It also shows these climate concerns impacted mental wellbeing.

However, these concerns also led to “a significant association with pro-environmental behaviour in 24 countries, and with environmental activism in 12 countries,” the study states.

Insure Our Future

Several groups that comprise an alliance called Insuring Our Future say that insurer’s policies on high-emissions activities say the industry is turning away from underwriting oil, gas and coal.

Insure Our Future announced Wednesday that 62% of reinsurers plan to stop covering coal projects, while 38% are now excluding some oil and natural gas projects, according to an article on Ãå±±ÂÖ¼é.

“Insurance is the Achilles heel of the fossil fuel industry and has the power to accelerate the transition to clean energy,” said report author Peter Bosshard.

Insure Our Future’s annual scorecard gave the top rankings to Allianz, AXA and Axis Capital for their coal exit policies. Aviva, Hannover Re and Munich Re ranked high for oil and natural gas.

The report also called out insurers like Berkshire Hathaway, Starr and Everest Re for adopting few or no restrictions coal, oil or gas projects. It also criticized Lloyd’s of London for announcing plans for ending coal coverage two years ago and alter declaring it optional.

The article on Ãå±±ÂÖ¼é notes that insurers have begun making the link between fossil fuel infrastructure and the impact of greenhouse gas emissions on parts of their business, including extreme weather events such as hurricanes. Hurricane Ian, for example, recently caused tens of billions of dollars in damage.

Potatoes

A report in BBC News asks if potatoes are being put at risk by warmer weather.

“The humble potato may struggle to grow in the UK in years to come due to climate change, researchers have warned,” the out on Thursday states.

Household potato varieties like the Ayrshire and Maris Piper are said to be at risk from rising temperatures, research is ongoing to find varieties that grow better in warmer conditions, and experts are warning that climate change poses an “existential threat” to the potato industry, according to the piece.

The BBC puts the annual retail value of potato products across the U.K. is put at more than £2bn.

“Potatoes are a cool-climate crop,” Lesley Torrance, executive director of science at The James Hutton Institute at Invergowrie, told the BBC. “And of course climate change predictions are that we’re going to have hotter and drier summers. So that’s a big problem.”

A reported a global climate change impact on crops ios expected within 10 years. It projects maize crop yields may decline 24%, while wheat could potentially see growth of about 17%.

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Topics COVID-19

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