EU Plans New Climate Insurance Scheme
The European Union announced plans to create a climate insurance alliance to boost coverage for extreme weather events. Only a quarter of climate-related economic losses in the bloc are currently insured.
The European Union will launch a climate insurance alliance to increase cover for extreme weather events, European Commission President Ursula von der Leyen said on Wednesday morning. The move follows a summer of severe drought, wildfires, and heatwaves across the continent. Europe is heating up at twice the global average, making it the world's fastest-warming continent.
