Sep 11, 2017

Harvey likely to be second-costliest U.S. natural disaster

Data from Goldman Sachs Investment Research and the National Hurricane Center reveals that Hurricane Harvey could rack up an estimated $85 billion in damage, which would make it the second-costliest natural disaster in U.S. history. Meanwhile, Hurricane Irma could go down as one of the five costliest U.S. hurricanes, per AP.

Data: National Centers for Environmental Information, Goldman Sachs Global Investment Research; Chart: Lazaro Gamio / Axios

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Big Tech data centers probably aren't a climate change time bomb

Data: Reproduced from an International Energy Agency report; Chart: Axios Visuals

An International Energy Agency analysis pushes back against concerns that data centers are a ticking carbon bomb as use of web-connected devices expands.

Where it stands: Power use by data centers consumes about 1% of global power (which isn't trivial in a world of still-rising emissions) and has changed little since 2015, they report.

Go deeperArrowJan 7, 2020

Goldman Sachs moves away from financing coal and Arctic oil

A Mendeleev Prospect oil tanker. Photo: Alexander Ryumin/TASS via Getty Images

Goldman Sachs says it won't directly finance Arctic oil-and-gas exploration, new coal-fired power plants (unless they trap carbon), or new mines for coal used in electricity.

The big picture: Those are three big pieces of the banking giant's revised climate policies unveiled over the weekend.

Go deeperArrowDec 16, 2019

Six of the biggest U.S. banks have weaknesses in their crisis plans

Illustration: Lazaro Gaimo/Axios Visuals

The Federal Reserve Board and the Federal Deposit Insurance Corporation found shortcomings in the exit strategies — or "living wills" — of six of the eight largest banks in the U.S., it said on Tuesday.

Why it matters: These living wills dictate how big banks handle bankruptcy during financial distress — or a financial crisis. Bank of America and Wells Fargo are among those currently unable to prove that their top decision-makers can confidently act on crisis-level exit strategies.

Go deeperArrowDec 18, 2019