I was in Greece kayaking along the south shore of Crete and then visiting Santorini, Paros and Athens with Zack and Debbie when the back to back hurricanes Helene and Milton hit Florida and the SE US. We had a magical and fabulous time in warm, sometimes hot, but perfect weather.
Meanwhile, so many people were suffering and some were dying due to the ravages of these two storms. We have friends who have a home in Chimney Rock, NC whose home was totally destroyed. While those in Florida and other areas in the South are aware of the risk these powerful storms present, it was a surprise to those in Tennessee and North Carolina how vulnerable they were. It is heartbreaking to witness the real and increasing tragedy that climate change is bringing to so many. Dare I say, everyone? When we were in Greece, while the temperature was warm, even hot at times, and pretty great for us in late Septemberand early October, all the locals were commenting on how unusual it was for this time of year.
As I run into some of you who get this blog I often get asked how I can be so optimistic about the future with all the horrific events and news about climate change upon which I report to you. Well, there’s the yin and the yang. On the one hand, I see that the world is increasingly becoming aware of the reality of climate change and the impacts it is already having on everyone’s lives, the costs in emotional and economic terms, and the need to do something, do more, about this accelerating disaster. I also see, and report to you on, the amazing developments that are occurring that will help mitigate the worst case scenarios that will occur if we do nothing and maintain the status quo of the past. And I also have an inkling of hope that we may be able to find ways to bring down the concentration of CO2 and methane in our atmosphere and make a meaningful step in reducing the otherwise inevitable future that faces us. There’s lots of work and money being invested to develop technologies that can do this economically and at scale.
On the other hand, climate disasters are happening faster, with greater intensity and impacting all the ways, and more, as I have been predicting for over a decade. It is more than just scary. It is becoming life altering for an increasing number of people. I just read that this year is the worst for destruction of forests by wildfires which have destroyed over 7 million acres far eclipsing previous years. That’s an area 7 times the size of Yellowstone National Park. I remember in 1988 how horrified we were that wildfires had burned about half of Yellowstone.
Many people, with scientists at the forefront, are urging governments to do more to help. This is actually happening but not nearly at the pace required. As in most things, I have said, “follow the money”. Change will come when the cost of not doing anything becomes greater than doing what is necessary. Over the years I have said that financial markets will dictate change and that is really now kicking into high gear lead by the insurance industry. This in turn is slamming real estate values and the financial markets. (By the way, have you heard about the shortage of IV fluids and delivery systems? The Baxter plant in North Carolina that supplies 85% of IV systems and fluid in the States was destroyed putting 2,500 employees out of work. No telling when it will be able to go into production again but it won’t be anytime soon. And thus, hospitals are cancelling any type of elective surgeries.) There was an article on CNN this week interviewing a couple of people who have been doing research on the impact on the people who have been impacted by climate disasters. It is showing an increasing propensity of people moving to places that they perceive as safer. Unfortunately, they are having trouble selling their property because their values are going down and insurance rates for these properties are exploding…if it is even available at all.
I could go on and on regarding all this. Instead, I’m going to let all these recent articles tell the story. Just scanning the headlines paints a nightmare picture. But click on the links if you care to get deeper into the details. And have faith! At the end I’ll post some articles bearing encouraging news.
Milton Will Force all Floridians to Pay More for Insurance
The claims that insurers pay for damage from hurricanes Helene and Milton could prompt companies to raise rates that are already the highest in the U.S.
Where Climate Change Poses the Most and Least Risk to American Homeowners
October 15, 2024
As buyers and sellers wake up to risks on a hotter planet, Cape Coral might be a preview of what millions of homeowners throughout the country could face: a slow and almost imperceptible re-pricing of many people’s biggest asset.
Zillow Home Listings to Feature Climate Risk, Insurance Data
September 30, 2024
Mindful of increasing risks from extreme weather events such as hurricanes, Zillow will combine climate risk scores, interactive maps and insurance information on its home listings
Global Emissions Likely Have Peaked as Renewables Take Hold
The world is choking from emissions more than ever but that trend is set to reverse starting next year as the cost of solar panels and batteries crowd out coal and stunt the growth of oil, a new report says.
DNV, a Norwegian risk management company, finds global emissions likely have peaked, but the transition to clean energy remains “too slow.”
New Solar Cells Break Efficiency Record – they Could Eventually Supercharge How we Get Energy From the Sun
The sight of solar panels installed on rooftops and large energy farms has become commonplace in many regions around the world. Even in grey and rainy UK, solar power is becoming a major player in electricity generation.
This surge in solar is fuelled by two key developments. First, scientists, engineers and those in industry are learning how to make solar panels by the billions. Every fabrication step is meticulously optimised to produce them very cheaply. The second and most significant is the relentless increase in the panels’ power conversion efficiency – a measure of how much sunlight can be transformed into electricity.
