Action urgently needed to save the conditions under which markets – and civilisation itself – can operate, says senior Allianz figure
The world is fast approaching temperature levels where insurers will no longer be able to offer cover for many climate risks, said Günther Thallinger, on the board of Allianz SE, one of the world’s biggest insurance companies.
The argument set out by Thallinger in a LinkedIn post begins with the increasingly severe damage being caused by the climate crisis: “Heat and water destroy capital. Flooded homes lose value. Overheated cities become uninhabitable. Entire asset classes are degrading in real time.”
“We are fast approaching temperature levels – 1.5C, 2C, 3C – where insurers will no longer be able to offer coverage for many of these risks,” he said. “The math breaks down: the premiums required exceed what people or companies can pay. This is already happening. Entire regions are becoming uninsurable.”
“This applies not only to housing, but to infrastructure, transportation, agriculture, and industry,” he said. “The economic value of entire regions – coastal, arid, wildfire-prone – will begin to vanish from financial ledgers. Markets will reprice, rapidly and brutally. This is what a climate-driven market failure looks like.”
Some areas are at high risk for tornadoes on Wednesday and flooding on Thursday.
One of the most extended U.S. flood episodes of recent years is on tap to begin late Wednesday, April 3, and stretch into the following weekend. The NWS Weather Prediction Center has issued four consecutive days of moderate flood risk for Wednesday through early Sunday.
The threat of tornadoes, destructive winds, and damaging hail will peak from Wednesday afternoon, April 2, into early Thursday. Then comes the deluge — perhaps a foot or more of rain, adding up to what could be some of the heaviest three- or four-day totals ever recorded in what is normally a moist region notorious for flooding.
Anna Zivarts explains how reimagining transportation could benefit non-drivers and the climate.
According to the U.S. Department of Transportation, approximately one-third of the nation’s residents don’t have driver’s licenses. In her 2024 book “When Driving is Not an Option: Steering Away from Car Dependency,” disability advocate Anna Zivarts argues that not only is America’s car-centric infrastructure harmful to the climate, it also fails to meet the everyday needs of many Americans.
We all have different roles to play. I'm here for the fight, but I have a few friends who are fleeing to Europe right now. I can understand both choices.
Thank you for sharing and summarizing! A few more takeaways relating to climate change:
- Emissions growth (0.8%) is lower than GDP growth (3.2%) for 2025, which could be seen as evidence of decoupling. Growth in electricity demand (4.3%) outpaced GDP.
- Renewables made up nearly 40% of new energy production, but coal, oil and natural gas use has continued to increase to record highs.
- Total & per-capita emissions are decreasing in the US & EU, but increasing in China and India.
