In this episode of the ESG Insider podcast we explore climate change and its implications for property insurance through the lens of the wildfires in Los Angeles.
The fires that broke out in LA in January killed at least 29 people and destroyed or damaged thousands of structures. Early estimates from AccuWeather put the total damage and economic losses at more than $250 billion.
“Climate change is not the only culprit here, but it is an accentuating factor that made this event and other events more severe than they would have been otherwise,” says Terry Thompson, Chief Scientist in the Climate Center of Excellence at S&P Global.
We also talk to Gavin Schmidt, Director of NASA’s Goddard Institute for Space Studies, about why extreme weather events like wildfires are becoming more frequent and severe as the world warms.
"We can prevent the situation getting worse by reducing, in the end to zero, carbon dioxide emissions," Gavin says. "There's really no practical other way to even stabilize the situation, let alone r
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