Apollo is building out its risk review process to reflect the impact on asset valuations of extreme weather https://t.co/vOI4J2WwJb ...

Core Insights - Climate change significantly exacerbated severe flooding in South and Southeast Asia, resulting in over 1,600 fatalities and approximately $20 billion in damages due to three tropical cyclones in November [1][2]. Climate Impact - Warmer Indian Ocean waters, approximately 0.2°C above long-term averages, contributed to the intensity of Cyclones Ditwah and Senyar by providing additional heat and moisture [2]. - Without human-induced climate change, ocean temperatures would have been about 1°C cooler, indicating a direct link between climate change and increased storm severity [2]. Urbanization and Environmental Factors - The combination of climate change, seasonal weather cycles, and rapid urbanization, along with widespread deforestation, intensified the flooding, with water levels exceeding expected heights during the monsoon season [3]. - Researchers noted that while flooding is typical during monsoon season, the levels reached in some areas were unprecedented, exceeding 14 to 15 feet [3]. Climate Model Limitations - Current climate models have struggled to accurately predict the rapid pace of climate change and its impacts, particularly since 2022, leading to economic challenges for insurers and financial firms [4]. - The inconsistency in major climate models regarding rainfall increases from the cyclones suggests a need for improved models that can better capture regional dynamics [3][4]. Historical Weather Analysis - An analysis by ClimaMeter indicated that meteorological conditions during Indonesia's floods were up to 7 millimeters a day, or 15%, wetter than historical averages, underscoring the influence of climate change [6]. - The attribution group expressed low confidence in their findings due to the rarity of similar events, but noted that natural climate variability played a minimal role in the floods [7]. Increasing Extreme Weather Events - Research indicates a growing trend of extreme rainfall events in Southeast Asia over recent decades, aligning with the findings of the recent floods [7].

Core Insights - A significant portion of Americans, specifically one-in-four, view rising costs, loss of insurance, and damages from extreme weather as top risks to their retirement income, yet few have proactive plans to address these challenges [1][6] - The survey conducted by Allianz Life indicates that 56% of respondents experience anxiety regarding financial losses or health impacts from extreme weather, but only 10% have consulted a financial professional about these concerns [2][6] - Experts emphasize the importance of maintaining an emergency fund to prepare for unexpected expenses related to natural disasters and extreme weather events [5][7] Group 1: Risks to Retirement Income - One-in-four Americans identified loss of insurance, rising costs, and damages from natural disasters as significant risks to their retirement income [1][6] - Climate change is considered a risk to retirement savings, comparable to concerns over taxes, debt, and caregiving responsibilities [4] Group 2: Financial Preparedness - Despite the anxiety surrounding extreme weather, only 36% of individuals who have experienced such events have incorporated these risks into their retirement planning [4][6] - Financial experts recommend that individuals, particularly those in vulnerable areas like the Gulf Coast, should keep extra cash available for emergencies, such as evacuation costs [5][7]

Hurricane Impact and Progression - Hurricane strength remains at Category Two with wind speeds of 100 mph [1][2] - The storm's speed has increased from 4-5 mph to approximately 14 mph, accelerating its journey [3] - Some parts of Cuba picked up anywhere from 18 to 24 inches of rain [4] - Jamaica could face weeks to months, or even years, for full damage recovery [6] Climate Change and Extreme Weather - The frequency and intensity of extreme weather events, fueled by climate change, are increasing [9][10] - There's a growing need to adapt to more intense and frequent disasters [11] - Peer-reviewed science indicates a greater proportion of tropical storms are reaching catastrophic Category Four and Five levels [14] Hurricane Monitoring and Forecasting - Hurricane Hunters had to abort missions due to severe turbulence [15] - Retired staff were brought back to staff NOAA Hurricane Hunter missions due to staff shortages [16][17] - Maintaining hurricane hunter missions is crucial for better forecasting, monitoring, and warning to save lives and property [17]

Climate Change Impact - The UK should prepare for more extreme weather events [1] - The world is likely to miss the Paris Agreement's target to limit global warming [1]

Environmental Impact - Extreme high temperatures in China are impacting tennis players' physical performance [1] - Players are experiencing severe physical distress, including cramping and vomiting [1] - Players are sweating excessively, requiring multiple pairs of sneakers [1]

Incident Overview - A shock blizzard stranded hikers on the Tibet side of Mount Everest, leading to a large-scale rescue operation [1] - Extreme weather conditions, including lightning and strong winds, impacted both the Tibet and Nepal sides of Mount Everest [2] - Severe storms are unusual for this time of year in the Himalayas, coinciding with a peak tourist season due to a national holiday in China [3] Rescue Efforts and Impact - Chinese rescue teams, villagers, and technology (drones) were deployed at 16,000 ft to reach stranded hikers [1] - Approximately 350 hikers were brought to safety in Tibet after rescuers worked through the night [4] - Around 200 people remained stuck, facing treacherous conditions and hypothermia [3] - One hiker died in another area affected by the storm [3]

An accurate read of El Niño is essential for energy traders and farmers, especially as a changing climate exacerbates extreme weather, writes @maryhui https://t.co/rwDCPxiTrx ...

Europe's top forecaster is looking to upgrade its supercomputer as it responds to the challenges posed by extreme weather @joewertz https://t.co/4O4xxzeSsy ...

Climate Risk Assessment - Many businesses are overlooking the full extent of their climate risk [1] - Even after experiencing the impacts of more extreme weather first-hand, businesses still overlook climate risk [1]