"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.
Investors, analysts, research firms and companies are putting more emphasis on how climate issues ranging from rising sea levels to record heatwaves will affect profits and revenues in the United States and what companies are doing to address those risks.
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.
Overall, more than 70 firms have discussed the potential impact of climate change on their business on their quarterly results calls since the start of the year, more than double that of last year or any other year since 2014, according to a Reuters analysis of Refinitiv data."
David Randall reports for Reuters November 5, 2019.
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"Climate Risks, Opportunities, To Be Major Markets Factor in 2020" (Reuters)
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