Monday, July 13, 2009

Polluters and insurers ready to fight global warming

Posted By on Mon, Jul 13, 2009 at 10:32 AM

No surprise here. As with most things in the corporate world, they'll do what it takes to protect their money.

Insurers in the U.S., Germany and Switzerland say a pledge announced yesterday at a meeting of the world’s biggest polluters to limit global temperatures is essential to controlling the cost of protecting property.

Munich Re, the biggest reinsurer, and Zurich Financial Services AG back the target set by the European Union, the U.S. and 15 more nations to hold the planet to within 2 degrees Celsius (3.6 Fahrenheit) of pre-industrial times.

The 17-member group, acting on scientific forecasts that excessive warming may spark more severe weather, set the goal as the centerpiece of their declaration in L’Aquila, Italy, after meetings led by U.S. President Barack Obama. The 2-degree cap, supported by the EU since 1996, has gained acceptance from insurers, one of the first corporate converts.

More from Bloomberg.com.

The Blue Man Group's take on global warming:

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