In the wake of two years of devastating wildfires in California, Wall Street is ...
NEW YORK - In the wake of two years of devastating wildfires in California, Wall Street is incorporating a new risk metric when evaluating companies: climate resiliency.
Companies located in areas such as California, Florida and Louisiana that put them at a higher risk of being affected by more severe weather patterns are increasingly being asked how they will protect their businesses from climate change. “Without expecting a company to significantly change its strategy, we are increasingly having conversations with management teams to ask them about their plans for climate resilience,” said Arthur Hurley, senior portfolio manager on the Columbia Real Estate Fund.
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