Extreme Weather Requires Businesses and Homeowners to Protect their Assets, Reports Financial Times

Posted on 12/3/19 4:09 PM

A recent Financial Times article reports on the impact of extreme weather events on financial assets.

“Both the public and private sectors will be affected significantly…by climate change,” The Climate Service CEO James McMahon told Financial Times.

The article cites a report from Blackrock that shows rising temperatures are increasing the frequency and intensity of extreme weather events; the number of natural disasters causing $1 billion or more in damages has been on the rise, BlackRock says.

The article notes the steps many homeowners and businesses are now required to take to protect their assets from the effects of extreme weather, including the venture capital fund operated by LMI, which bought a stake in The Climate Service last October. “We’re seeing a huge demand for robust, reliable, and transparent information about the effects of climate change,” McMahon says.

Financial Times also cites the work The Climate Service is doing for the US Federal Government stating, “This business has already helped the US defence department assess a range of climate risks. These included for example the increased danger of storm flooding restricting the battle-ready status of the F-35 joint strike fighter.”

Topics: In The News

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