We are all in the same boat, let’s not rock it!

Illuminem

September 4, 2014

https://illuminem.com/illuminemvoices/we-are-all-in-the-same-boat-lets-not-rock-it

The ‘Bayesian’ tragedy – first reported case of a billionaire consumed by climate violence – according to current estimates will cost insurers USD 150 million. An unsinkable super yacht going down may have repercussions on the insurance cost of keeping this class of vessels afloat. 

Insurers will, however, not factor in pricing of externalities. It is not just about carbon emissions. Oceans are a critical climate regulator. All forms of shipping damage biodiversity and pollute heavily – the cost gets spread inequitably across the planet. With the likes of a ‘deteriorating’ Atlantic Meridional Ocean Current (#AMOC) staring us in the face, should we be burying our heads in the sand?

We are all in the same boat, let’s not rock it!