Economy & Business

"Insurers are already pulling back from California, Florida and Louisiana. Senate Democrats are trying to find out which states could be next."

"Wind energy developer Orsted is writing off $4 billion, due largely to the cancellation of two large offshore wind projects in New Jersey whose financial challenges mirror those facing the nascent industry."

"Louisiana has increased fines for inactive oil and gas wells in an effort to reduce the number of polluting and dangerous wells that are eventually abandoned and made the responsibility of the state."

"It’s a glaring weak spot in climate protection: Millions of U.S. residents don’t have flood insurance and face financial ruin if their home is inundated. But the nation’s insurance gap would shrink under a dramatic proposal that could require millions of property owners to buy flood coverage for the first time, potentially costing them thousands of dollars a year."

"The White House on Monday issued veto threats against two GOP-led House appropriations bills expected to come up for a vote this week as lawmakers seek to avoid a government shutdown in November."

"Major corporations in water-guzzling industries such as clothing, food, beverage and technology want to be better stewards of the freshwater they use — especially as drought, floods and other extreme weather intensified by climate change threaten their supply chains. But of 72 companies ranked by a sustainability nonprofit over the past year, few are close to achieving their 2030 targets."

"U.S. banks will face pressure to address the financial threats of climate change — including in underserved communities — under two new sweeping regulatory actions."

"Sultan Al Jaber, CEO of the UAE’s national oil company, secured the COP28 presidency despite questions over his green credentials."

"Sen. John Fetterman (D-Pa.) and seven House Democrats asked the Government Accountability Office (GAO) to review potential environmental damages caused by idled coal mines."