Climate risk
Senators delay climate change legislation
Draft climate change legislation scheduled for release next week has been delayed until later this month.
Umbrella coverage
Pauline McCallion investigates the budding opportunities for managing weather risk in the renewable energy sector.
Pockets of growth for weather derivatives sector
While activity in the general weather risk market declined in 2008/2009, Asian and European markets showed growth, according to the Weather Risk Management Association (WRMA).
CME acquires hurricane index
CME Group has acquired the Carvill Hurricane Index from Carvill America Inc. and renamed it the CME Hurricane Index.
Evolution launches catastrophe derivatives division
Environmental brokerage firm Evolution Markets has introduced a brokerage and transaction service to focus on the catastrophe derivatives market.
Marty Malinow
Newly crowned WRMA president Marty Malinow tells David Watkins that there's fewer than six degrees of separation between life, business and the weather markets
TFS Energy completes $50 million weather auction
A $50 million Dutch auction has been completed by interdealer broker TFS Energy’s US weather derivatives division.
More than 50% of US companies unprepared for weather risk: report
Results of a survey carried out by CME Group, the world's largest derivatives exchange, and weather risk management originator Storm Exchange, have found that 51% of senior finance and risk managers concede that they are under prepared to cope with…
Nomura to offer catastrophe risk hedging
Nomura Securities will provide its Japanese clients with risk hedging to transfer catastrophe-related risk to the capital markets via derivatives and catastrophe bonds.
Managing climate change risk
Climate change poses two main risks to business – reputational risk and financial risk. Francis Hervé , non-executive director at Utilyx and former chief executive of EDF trading, provides some guidelines for managing both sets of risk
The hidden costs of climate change
The business risks posed to energy companies by climate change go well beyond compliance with emissions reduction schemes. Most companies that have taken climate risks into account have only considered half the picture, says John Firth
CME launches hurricane index
The Chicago Mercantile Exchange (CME) is expanding its weather derivatives product range with the launch of CME-Carvill Hurricane Index futures and options on futures contracts.
Nymex to list catastrophe risk futures contracts
The New York Mercantile Exchange (Nymex) has announced that it will list three new financially settled catastrophe risk (CAT risk) index futures contracts.
Climate change: FSA warns of risk, predicts opportunities
The Financial Services Authority (FSA) has stated in its Financial Risk Outlook 2007 report that climate change poses “considerable risks and challenges to the financial sector”.
More than just talking about the weather
Energy Risk launched the Environmental Risk brand on October 17, with an e-symposium on the weather risk market, which attracted over 500 online delegates. A range of other online conferences on emissions and renewables will follow
After the storm
Last year's devastating US hurricane season hammered home the link between energy and weather. But some believe it may also hold a key to predicting this year's weather, says Todd Crawford of Weather Services International
Pricing the weather
Pricing weather derivatives is different from valuing other derivatives contracts – actuarial methods play a greater role. Steve Jewson looks at the varied approaches available
Former Swiss Re weather experts launch hedge fund
Weather risk veterans Mark Tawney and Bill Windle, who left global reinsurer Swiss Re on July 7, are starting a hedge fund, named Takara, Energy Risk has learned. Weather trader Bill MacLauchlan departed Swiss Re at the same time, for personal reasons.
Peaking patterns
Weather is increasingly affecting power market dynamics, with prices as variableas the temperatures. But the volatility has spawned a growing variety of methodsofmanaging peak load demand. By Catherine Lacoursiere