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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
Heatmap Illustration/Getty Images

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.

    Yellow

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    Politics

    Trump’s Tiny Car Dream Has Big Problems

    Adorable as they are, Japanese kei cars don’t really fit into American driving culture.

    Donald Trump holding a tiny car.
    Heatmap Illustration/Getty Images

    It’s easy to feel jaded about America’s car culture when you travel abroad. Visit other countries and you’re likely to see a variety of cool, quirky, and affordable vehicles that aren’t sold in the United States, where bloated and expensive trucks and SUVs dominate.

    Even President Trump is not immune from this feeling. He recently visited Japan and, like a study abroad student having a globalist epiphany, seems to have become obsessed with the country’s “kei” cars, the itty-bitty city autos that fill up the congested streets of Tokyo and other urban centers. Upon returning to America, Trump blasted out a social media message that led with, “I have just approved TINY CARS to be built in America,” and continued, “START BUILDING THEM NOW!!!”

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    AM Briefing

    Nuclear Strategy

    On MAHA vs. EPA, Congo’s cobalt curbs, and Chinese-French nuclear

    Nuclear power.
    Heatmap Illustration/Getty Images

    Current conditions: In the Pacific Northwest, parts of the Olympics and Cascades are set for two feet of rain over the next two weeks • Australian firefighters are battling blazes in Victoria, New South Wales, and Tasmania • Temperatures plunged below freezing in New York City.


    THE TOP FIVE

    1. New defense spending bill makes nuclear power a ‘strategic technology’

    The U.S. military is taking on a new role in the Trump administration’s investment strategy, with the Pentagon setting off a wave of quasi-nationalization deals that have seen the Department of Defense taking equity stakes in critical mineral projects. Now the military’s in-house lender, the Office of Strategic Capital, is making nuclear power a “strategic technology.” That’s according to the latest draft, published Sunday, of the National Defense Authorization Act making its way through Congress. The bill also gives the lender new authorities to charge and collect fees, hire specialized help, and insulate its loan agreements from legal challenges. The newly beefed up office could give the Trump administration a new tool for adding to its growing list of investments, as I previously wrote here.

    Keep reading...Show less
    Green
    Bruce Westerman, the Capitol, a data center, and power lines.
    Heatmap Illustration/Getty Images

    After many months of will-they-won’t-they, it seems that the dream (or nightmare, to some) of getting a permitting reform bill through Congress is squarely back on the table.

    “Permitting reform” has become a catch-all term for various ways of taking a machete to the thicket of bureaucracy bogging down infrastructure projects. Comprehensive permitting reform has been tried before but never quite succeeded. Now, a bipartisan group of lawmakers in the House are taking another stab at it with the SPEED Act, which passed the House Natural Resources Committee the week before Thanksgiving. The bill attempts to untangle just one portion of the permitting process — the National Environmental Policy Act, or NEPA.

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    Blue