Formal responses to the Government’s invitation to respond under the terms of the Adaptation Reporting power have produced two interesting adaptation reports from very different sectors: health and insurance.
Health impacts of climate change will affect groups already experiencing deprivation
The health impacts of climate change will be unevenly distributed, and will mostly affect those groups and communities that are already experiencing deprivation. This is one of the headline messages from the adaptation report for England’s health sector. The sector will experience impacts both from changes to the health of the population (e.g. responses to heatwaves, air pollution) as well as the risk of disruption to the delivery of services. The report also says that while there is good adaptation practice in the health system, there is considerable variation in progress across the sector.
Bank of England Governor speaks out on need to respond to climate change
The Governor of the Bank of England, Mark Carney, recently highlighted the threat the climate change poses to financial stability, grouped around the physical risks to insured assets, liability risks that may arise in future for carbon extractors and emitters, and the financial risks associated with the transition to a low-carbon economy. His comments came as the Prudential Regulation Authority published a report on the impact of climate change on insurers, and he suggested that while insurers are well-placed to manage near-term risks, the longer-term risks of climate change will require further attention.
- Bank of England: Breaking the tragedy of the horizon – climate change and financial stability – speech by Mark Carney
- Bank of England: The impact of climate change on the UK insurance sector (pdf, 2.5 MB)
- BBC: Bank of England’s Carney warns of climate change risk