“The U.S. economy has experienced more than $500 billion in direct losses over the last five years due to climate and weather-related events,” Federal Reserve Bank of New York Executive Vice President Kevin Stiroh told a risk forum on Thursday at the bank."
"On a cold morning last March, Kenny Angel got a frantic knock on his door. Two workers from a utility company in northern Nebraska had come with a stark warning: Get out of your house. ...Minutes later, the dam came crashing down, unleashing a wave of water carrying ice chunks the size of cars. Angel’s home was wiped away; his body was never found."
"When officials at a government weather forecasting office assured Alabama residents that a September hurricane would not hit their state, they did not intend to contradict President Trump’s insistence that it would, according to newly disclosed documents."
"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."
"Twenty-two mayors, as well as other city leaders, from across Northern California are behind a bold proposal to turn the region’s troubled Pacific Gas & Electric into a publicly owned cooperative."
"President Donald Trump is scorching the facts about California’s wildfires. The president in recent tweets blamed California and Democratic Gov. Gavin Newsom for the fires because of state forest management practices and said California’s fires were too expensive and worse than in other states. In fact, the fires were not raging mostly in forests. The bulk of California’s forests are also federally managed, and other parts of the U.S. are burning even more."
Illness, injury, death. Those are the worsening health impacts of climate change, as global warming shifts disease vectors, encourages bacteria and foodborne illness, and leaves people increasingly suffering from heat, smog, smoke, allergies and other risks of extreme weather. Our latest TipSheet helps you get a handle on the sprawling health-climate story.
"The fires that have ignited in California, leading to mass evacuations and seemingly otherworldly scenes, may have gotten their start from a surprising source."
An investment guru who predicted the crash of the mortgage market in 2007 is now predicting that climate-caused forces like uninsured flooding are distorting real estate prices in ways that could lead to a similar crash.
"Winds that have fanned California’s wildfires have calmed, helping firefighters contain blazes that have destroyed homes and forced mass power outages since late last month."