Antinuclear

Dangerous climate radical, Lloyds of London, threatens the world economy

Dangerous climate radical, Lloyd’s of London, appears to be threatening the world economy

Look – the world authorities have got everything in hand. There should be no need to worry about that global heating nonsense. We learned at Climate Summits Cop 28 and Cop 29 that our shares in oil, gas, coal are going to continue OK. And now, the world’s leader, the USA is going  to again withdraw from the landmark Paris climate agreement, so we can forget all that silly reductions emissions nonsense. And no more of our money to be grabbed by the United Nations Framework Convention on Climate Change.

Gee, America has just been saved from a “national energy emergency,” by President Trump’s foresight, with an executive order with its promise to “drill, baby, drill.” Saved in several other ways, such as removing incentives for electric cars.

Phew ! What a relief – as things can now go back to normal. We’ve really had the wool pulled over our eyes, by silly organisations like the UK Met Office, NASA. Copernicus in Europe, Berkeley Earth, U.S. Greenhouse Gas Center, the World Meteorological Organization, and The China Meteorological Administration.

All of these smartaleck bodies have very recently reported on climate change and its effects. The latest nonsense is in the January 15th Report from The World Economic Forum. Listing the top global risks, No.2 is Extreme weather events.

Now what would those elitists know – compared to the common-sense wisdom of a Donald Trump, a J.D. Vance, or a Peter Dutton? We don’t need to worry about all that complicated doom and gloom from academic old fogeys.

But one thing that bothers me is treachery. I’m talking about highly respected companies – in this case Lloyd’s of London, which apparently, in 2019 refused to reinsure some Canadian insurance companies. It is hard to find detail on this, but it was due to Canada’s succession of climate disasters – hurricanes,  floods, wildfires, and extreme heat. Lloyds is the biggest global reinsurer, so could be said to have started, or at least accelerated a trend. In California from 2015-2019, insurers refused 350,000 policy renewals, because of the devastating wildfires. This trend is spreading to the reinsurance of insurance companies in other countries, including Australia.

Reinsurance companies nowadays adopt what is quaintly called “robust”underwriting decisions . In the most recent years, they’re assessing not only huge climate disasters, but also recognising smaller climate perils, like  wind, hail or water damage. For areas at risk, they’re requiring preventative measures, insurance companies must charge more for homes in flood plains, wildfire-prone zones, or coastal areas at risk of hurricanes. So, insurance companies must comply, as they themselves need to be insured. Up go the premiums – for everybody – and especially those in the climate danger zones. . The current Los Angeles fires just add to the developing crisis in insurance. Insurance for many becomes unaffordable, –  “It’s called the hardening of the market.”, and this flows on to mortgage costs. banks and stranded assets- threatening  the overall financial sector.”

All this trauma is the result of Lloyds and others foolishly using the figures from The World Economic Forum, and those other bodies, and not paying proper attention to those who know the truth – of the non-existence or non-importance of global heating, top people – Donald Trump, JD Vance and Peter Dutton.

Climate researcher Paul Beckwith has set out the absurd climate claims: –

The World Economic Forum report preceding the Davos conference looks at global risks – with input from business leaders CEOs, scientists, and a wide range of academics- planetary risks over the next year or 2 and 5 years out. and 10 years out. The top risks by far are climate change risks, abrupt tipping points, extreme weather events – In 5 years more prevalent in 10 years they”ll dominate.

banks are in trouble too. In that chain of events, the stock bubble could blow up. Should we expect the unexpected: 2025 as the year of climate blow-back into the economy?

Climate scientists in America are thinking twice about whether to talk publicly about climate change. The Trump team has already demanded control over the next U.S. National climate assessment, due out in 2026 or 27. It is possible that the same concern about losing their jobs could affect Australian scientists, if Peter Dutton should win Australia’s federal election , due in a few months.

February 2, 2025 - Posted by Christina Macpherson | Uncategorized