green reinsurers

[Doug Henwood]

[From Sam Smith's Progressive Review. Munich Re and Swiss Re profess great
concern about climate change, since they bear lots of financial risk in
disasters. US insurers and reinsurers seem a lot less interested than their
European counterparts. Munich Re talks about its enviro program at
<http://www.munichre.com/themes/themes5_eng.htm>]


>THE HIDDEN STORY OF MITCH
>
>According to Munich Re, the world's largest reinsurer, which collaborated with
>World Watch Institute on an investigation into the causes of Hurricane
>Mitch, a
>combination of deforestation and climate change were the primary culprits in
>the enormous disaster. The report also notes:
>
>* Central America has one of the highest rates of deforestation in the world,
>losing 2% to 4% of its remaining forests each year.
>
>* The Yangtze Basin, the scene of this year's largest flood disaster (230
>million people dislocated and $30 billion in losses), has lost 85% of its
>forests to logging and agriculture in recent years.
>
>* The summer flood in Bangladesh (30 million people dislocated, 10,000
>miles of
>roads damaged, and $3.4 billion in losses) was made far worse by extensive
>logging in north India and Nepal.