Global warming: a peak of 38°C in Siberia

On 20 June 2020, the temperature reached 38°C in the Siberian city of Verkhoiansk, 18°C higher than the maximum recorded at this time of the year in one of the coldest regions in the world.

rechauffement climatiqueScientists are concerned about such temperature record, global warming being the main cause of increase in tropical storms and destructive fires.

Climate change is being felt all around the globe. In May 2020, Cyclone Amphan caused 15 billion USD of losses in the Bay of Bengal. In 2019, typhoons Hagibis and Faxai caused tremendous damage in Asia. In 2019 Aalso, Cyclone Idai devastated several countries in southern Africa, and in south-eastern France exceptional floods caused heavy economic losses. Metropolitan France recorded a number of heat waves that impacted the agriculture.

In 2018, the United States sustained numerous devastating fires (see Wildfires in California). In the same year, the Maghreb countries had faced heavy rains that led to significant material damages.

Acknowledging the seriousness of the situation, several insurers and reinsurers decided to leave the coal industry entirely. Initiatives to create investment funds for the fight against global warming are emerging. Some reinsurers are creating laboratories to develop clean energy research.

In some countries, the prudential insurance supervisory authorities impose climate stress tests to assess the resistance of the financial sector (banks and insurance companies) in the face of large-scale disasters.

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