The Egyptian Insurance Federation said that developing resilient infrastructure, expanding the use of electricity as an energy source, carbon capture and storage, and decommissioning carbon-intensive assets are all factors leading to the generation of global gross written insurance premiums of between $8 billion and $25 billion. The Union stated in its weekly bulletin that these transformative trends represent potential immediate growth factors that can be addressed, although carbon capture and storage will require some additional innovations and investments.
She stated that climate risks have become a certainty rather than a possibility, as the year 2023: forest fires across Europe and America, floods in Asia, and unprecedented heat waves in the United States and Latin America have shown that risks associated with extreme weather and climate now pose an existential threat to the way we live. People live in it. She pointed out that climate change is one of the most important challenges facing the world today, with serious implications for food security, livelihoods and economic growth on the continent.
She explained that the increased frequency and intensity of extreme climate events, such as severe drought, floods, and tropical cyclones, lead to destabilizing situations and cause widespread losses in livelihoods and property in many countries of the world, reversing development gains, pushing more families into poverty, and increasing… Economic gender gaps in that sector.