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Climate

Health Insurers Fret About Climate Change

On ice-free summers, health insurance premiums, and ESG investing

Health Insurers Fret About Climate Change
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Current conditions: Much of the U.S. will see calmer weather over the next few days • A tornado caused “biblical damage” in Cyprus • Mexico is experiencing its worst drought in 12 years.

THE TOP FIVE

1. Study: Polar bears head ashore for food as sea ice melts

A new study sheds light on how polar bears are changing their diets and behaviors in a warming world. Climate change is shrinking the sea ice on which the bears rely for hunting seals. As the ice melts, the bears are forced onto land, where they can either reduce their physical activity in order to save energy and calories, or forage for berries and small prey. The research, which involved strapping cameras to 20 bears in Canada’s Manitoba province, found that neither option is enough to prevent the animals from going hungry. All of them lost weight and two of them were on track to starve before the sea ice was expected to return. “Polar bears are not grizzly bears wearing white coats,” said Charles Robbins, director of the Washington State University Bear Center and co-author of the study in the journal Nature Communications. “They’re very, very different.” The study found some bears are spending more time in the water, which is “new and unexpected,” one polar bear expert told Vox. “These are possibly acts of desperation. Hungry and skinny bears take more risks than fat bears.”

2. Health insurers fret about climate change impact

Health insurance may be the next sector to hike premiums due to climate change, The Wall Street Journal reported. The rise in extreme weather events has already roiled the home insurance market, making it more expensive – or even impossible – for homeowners in some high-risk areas to take out a policy. Now health insurers are “building new models to reassess premiums, estimate risk, and meet incoming climate reporting standards,” the Journal said. Recent research has linked extreme heat and wildfire smoke to a variety of health problems including heart attacks and cancer, and insurers want to know what this all means for their bottom lines. But the Journal reports that for now, insurers aren’t worried about their profits, “because the groups most likely to be affected by climate change aren’t covered by insurance.”

3. Redfin adds air quality tracker to home listings

In a sign of the times, Redfin has become the first real estate brokerage to include air quality data alongside home listings. The feature allows house hunters to see the air quality in their prospective new neighborhoods, and tells them whether it is expected to get better or worse in years to come. One home listed in Washington, D.C., for example, came with this warning: “Over the next 30 years, this area will experience a 20.0% increase in the number of poor air quality days, i.e. where the Air Quality Index (AQI) exceeds 100.”

Air quality information on a home listing in Washington, D.C. Redfin

Redfin already lists other risk factors like flood, fire, heat, and wind. “Redfin wants to ensure that every single person searching for a home has the information they need to understand climate risks,” said Redfin Senior Vice President of Product and Design Ariel Dos Santos. The company also published data this week showing that more people are moving into than out of metro areas that have bad air quality, not necessarily because of health concerns, but because they’ve been priced out.

4. BlackRock’s ESG funds are ‘soaring’

BlackRock Inc., the world’s largest asset manager, has seen more cash flow into its ESG funds than out every quarter for the last two years, “a period that marks one of the toughest ever in the two-decade history of environmental, social and governance investing,” Bloomberg reported. Most people might associate ESG with renewables, but it also encompasses some of the biggest tech giants: BlackRock’s three top-performing ESG funds include Microsoft and Apple as their biggest holdings.

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  • 5. UK Royal Navy reportedly considering climate change course for sailors

    The United Kingdom’s Royal Navy is considering making all its sailors take a course about climate change, The Telegraph reported, citing a leaked document. The course would focus specifically on how climate change threatens peace and defense efforts. The document also said rising sea levels could damage maritime infrastructure. Other initiatives under consideration include paying for sailors to study climate change, and inviting climate scientists to conduct research on Britain’s warships. One former head of the Royal Navy told the paper he supported the plans, but added: “Climate change is not more important than fighting the King’s enemies, so it has to be done with a balance.”

    THE KICKER

    At a North Carolina aquarium, a round stingray named Charlotte is pregnant despite not having contact with a male of her species in at least eight years.

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    Spotlight

    Secrecy Is Backfiring on Data Center Developers

    The cloak-and-dagger approach is turning the business into a bogeyman.

    A redacted data center.
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    It’s time to call it like it is: Many data center developers seem to be moving too fast to build trust in the communities where they’re siting projects.

    One of the chief complaints raised by data center opponents across the country is that companies aren’t transparent about their plans, which often becomes the original sin that makes winning debates over energy or water use near-impossible. In too many cases, towns and cities neighboring a proposed data center won’t know who will wind up using the project, either because a tech giant is behind it and keeping plans secret or a real estate firm refuses to disclose to them which company it’ll be sold to.

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    Hotspots

    Missouri Could Be First State to Ban Solar Construction

    Plus more of the week’s biggest renewable energy fights.

    The United States.
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    Cole County, Missouri – The Show Me State may be on the precipice of enacting the first state-wide solar moratorium.

    • GOP legislation backed by Missouri Governor Mike Kehoe would institute a temporary ban on building any utility-scale solar projects in the state until at least the end of 2027, including those currently under construction. It threatens to derail development in a state ranked 12th in the nation for solar capacity growth.
    • The bill is quite broad, appearing to affect all solar projects – as in, going beyond the commercial and utility-scale facility bans we’ve previously covered at the local level. Any project that is under construction on the date of enactment would have to stop until the moratorium is lifted.
    • Under the legislation, the state would then issue rulemakings for specific environmental requirements on “construction, placement, and operation” of solar projects. If the environmental rules aren’t issued by the end of 2027, the ban will be extended indefinitely until such rules are in place.
    • Why might Missouri be the first state to ban solar? Heatmap Pro data indicates a proclivity towards the sort of culture war energy politics that define regions of the country like Missouri that flipped from blue to ruby red in the Trump era. Very few solar projects are being actively opposed in the state but more than 12 counties have some form of restrictive ordinance or ban on renewables or battery storage.

    Clark County, Ohio – This county has now voted to oppose Invenergy’s Sloopy Solar facility, passing a resolution of disapproval that usually has at least some influence over state regulator decision-making.

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    Q&A

    Why Environmental Activists Are Shifting Focus to Data Centers

    A conversation with Save Our Susquehanna’s Sandy Field.

    Sandy Field.
    Heatmap Illustration

    This week’s conversation is with Sandy Field, leader of the rural Pennsylvania conservation organization Save Our Susquehanna. Field is a climate activist and anti-fossil fuel advocate who has been honored by former vice president Al Gore. Until recently, her primary focus was opposing fracking and plastics manufacturing in her community, which abuts the Susquehanna River. Her focus has shifted lately, however, to the boom in data center development.

    I reached out to Field because I’ve been quite interested in better understanding how data centers may be seen by climate-conscious conservation advocates. Our conversation led me to a crucial conclusion: Areas with historic energy development are rife with opposition to new tech infrastructure. It will require legwork for data centers – or renewable energy projects, for that matter – to ever win support in places still reeling from legacies of petroleum pollution.

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