A new policy from AXIS Capital will restrict insurance and investing in coal and tar sands, heightening pressure on other U.S. insurers to take similar moves.
The big picture: All major European insurers, with the exception of Lloyd's, have announced comparable policies. U.S. insurers had been bucking the trend until Chubb stepped forward in July, but AXIS' decision adds momentum to the shift away from not just coal but fossil fuels more broadly.
The risk of wildfires in California prompted what may be the largest deliberate power cut in U.S. history. The growing frequency of such precautions could incentivize residential and commercial customers to turn to on-site power generation.
Why it matters: Such a shift could mean a boon for solar energy systems, but also a comeback for gas-powered generators in areas bearing the brunt of extreme dry weather exacerbated by climate change.
There's stark new evidence that big automakers are divided over how to navigate White House moves to upend mileage and carbon emissions policies.
Driving the news: GM, Toyota, Fiat-Chrysler and others are now backing the Trump administration's move to yank California's power to impose CO2 rules — and by proxy mileage rules — that exceed federal standards.
California's planned blackouts — a response to wildfires — have left health care providers to make difficult decisions and created scenarios that are likely to become only more common in the future, The Verge reports.
Case in point: Winters Healthcare, a community clinic based in Winters, Calif., recently faced the decision of whether to keep a refrigerator full of vaccines running or to keep its community's electronic health care records online — its backup generator couldn't do both.
The California Public Utilities Commission announced Monday it will open an investigation into a series of power shutoffs by Pacific Gas & Electric Co. (PG&E) that were meant to curtail wildfires.
Where it stands: PG&E began to cut power to more than 2 million people over the weekend in an attempt to prevent further fires. The Commission says it will examine how public safety power shutoffs are conducted in the future and seek to "drive down risks of ignitions from utility infrastructure, risks that result from power loss, and the disruption to communities and commerce."
The high-stakes battle between President Trump and California over auto mileage and carbon emissions rules is getting even messier.
Driving the news: GM, Fiat Chrysler, Toyota and others announced they are joining the Trump administration's side in litigation over its move to block California from imposing emissions rules — and by proxy mileage requirements — that are tougher than federal standards.
ATLANTIC CITY, N.J. — In a few years’ time, offshore wind could power the slot machines at this beachside gambling town.
Driving the news: As I reported for this week's "Axios on HBO,"Danish company Ørsted, the world’s largest developer of this kind of energy, is planning to put nearly 100 massive turbines 15 miles into the Atlantic Ocean that could power a half-million homes — but opposition and delays could stymie that goal and the industry writ large.
