Wall Street increasingly weighs risk from climate change

This translation has been automatically generated and has not been verified for accuracy.In the wake of two years of devastating wildfires in California, Wall Street is incorporating a new risk metric when evaluating companies: climate resiliency.

As a result, fund managers, who typically do not incorporate environmental attributes in their analysis of a company, are taking a closer look at whether the physical locations of their property and equipment will put them at a higher risk of being impacted by climate change. But now fund managers like Hurley are finding that companies in their portfolio like Equity Lifestyle Properties Inc, are revealing to analysts on their earnings call that they are evaluating the potential for rising water levels when it purchases new marinas. Shares of the company are up 43% for the year to date.

Insurance claims for what were once considered secondary perils - such as wildfires and hail - have accounted for $13 billion out of $15 billion in natural disaster claims through August, according to Swiss Re. The firm is publishing a report in the next few weeks that will focus on companies that face the highest physical risks of climate change, a spokeswoman said.

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