As Hurricane Milton hit Florida this week, investors in catastrophe bonds are girding themselves for substantial losses. Insured losses could be up to $150bn, with corresponding catastrophe bond market losses of up to 15% according to investors. Bloomberg covers the story.
Despite many global companies backtracking on climate commitments, more than 100 CEOs have called for climate action ahead of this year’s COP29 conference. It comes as divisions emerge on corporate climate action as key financiers including bosses of Bank of America, BlackRock, Standard Chartered and Deutsche Bank are among those expected to skip this year’s climate conference. The Financial Times covers the story.
