What do you think? Leave a respectful comment.

The video for this story is not available, but you can still read the transcript below.
No image

Global Warming Presents New Business Opportunities

As various groups push to raise awareness of the adverse effects of global warming and energy prices continue to rise, companies are advertising greener, cleaner products that may cost a little more.

Read the Full Transcript

  • ANDREW CASTALDI, Swiss Re:

    Caribbean waters were warmer than normal, and the warmth went deeper than normal

  • PAUL SOLMAN, NewsHour Economics Correspondent:

    And that's what that ridge shows?

  • ANDREW CASTALDI:

    That's right.

  • PAUL SOLMAN:

    Andy Castaldi heads up the Catastrophe and Perils Division at Swiss Re, one of the world's top insurance firms. This time-lapse footing of last August in the Gulf is for his clients.

  • ANDREW CASTALDI:

    And hurricanes are so sensitive, even a half-degree difference above average is going to cause greater potential for more intense hurricanes.

  • PAUL SOLMAN:

    Now there's Katrina forming, right over Florida.

  • ANDREW CASTALDI:

    A Category 2. Then, all of a sudden, it hits the warmer waters of the Gulf, and it grew to a Category 5.

  • PAUL SOLMAN:

    The storm cost insurance companies a fortune. Property losses twice those of September 11th.

    Warmer waters, global warming — seems connected, but maybe it isn't. If it is, however, insurance firms could face a flood of future claims.

    And glaciers are melting, sea levels rising.

    AL GORE, former presidential candidate: This is what would happen in Florida.

    Around Shanghai, home to 40 million people…

  • PAUL SOLMAN:

    If Al Gore's new film is right, the waters could, as in Noah's day, prevail exceedingly upon the Earth, inundate cities, bankrupt the insurance industry.

  • AL GORE:

    Think of the impact of a couple hundred thousand refugees — and then imagine a hundred million.

The Latest