Heating Up: Hotter Earth Drives Dollars To Sustainable Funds
July 16, 2019 by Associated Press
NEW YORK (AP) — This year is on pace to be one of the hottest on record, again, and the trend may only accelerate as President Donald Trump loosens policies meant to combat climate change.
That has some investors feeling anger, but others are seeing dollar signs. They’re envisioning profits made by companies targeting opportunities wrought by the changing climate. Perhaps more importantly, investors are also seeing big, potential losses to be avoided.
Consider the recent bankruptcy filing of PG&E, the California utility owner facing mountains of potential liabilities due to wildfires that devastated northern California. Some funds that take environmental, social and corporate-governance factors into account when making their investments long ago decided to avoid PG&E, which meant their investors didn’t take losses from the bankruptcy.
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