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Without Insurance, Capitalism As We Know It Will Be Impossible - CleanTechnica

  • A top insurer warns that the climate crisis is on track to destroy capitalism due to the financial sector's inability to function without insurance amidst extreme weather impacts.
  • Günther Thallinger notes that rising temperatures make it increasingly impossible for insurers to offer coverage for climate risks.
  • From 2013 to 2023, extreme weather damages totaled $2 trillion, according to Aviva, indicating significant financial repercussions.
  • Thallinger emphasized that systemic risks threaten the financial sector, stating, 'The cost of inaction is higher than the cost of transformation and adaptation.
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Springer broke the news in United States on Monday, January 1, 1979.
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