In February, the SEC released guidance to public companies regarding disclosure requirements that apply to climate change suggesting inclusion of relevant business information regarding “.. the impact of changes in weather patterns, such as increase in storm intensity, sea-level rise, melting or permafrost and temperature extremes on facilities and operations.” Quite pertinent in light of the recent winter experienced on the East Coast, including the pseudo hurricane from this past weekend.
The insurance industry identifies climate change as the number one risk to property and life in the immediate future and as such is busy developing new actuarial models and products to identify and insure against climate change impacts. Global warming may not be occurring but climate change is and business, at least the insurance industry, is taking it seriously.
