Axa CEO, Thomas Buberl, declares we are nearing a point where the World is Uninsurable.
This is a huge step in declaring that we must shift investments to technologies that reduce or eliminate the use of fossil fuel energy. Many are moving quickly to curtail any such investments. I believe it was 15 years ago I read that business insurance for ski areas was going to be curtailed due to the rising temperatures and higher snow levels. This is important: We must begin to shift resources, and we will, because the economics are leading this way.
In spite of the current administration’s questionable environmental stance, cities, states and other countries are going all-in to find alternative solutions. It’s likely that the needs for water management and reuse, vertical and green house farming, and waste recycling will increase yearly due to the economics. As energy gets cheaper due to the rise in solar, wind and next generation storage systems, we will be curtailing fossil fuel use faster than previously thought. These are going to be interesting times!