Climate Risk May Someday Matter to Countries, Warns Extremely Polite Spreadsheet

    LONDON—In a bold act of understatement, Fitch Ratings announced this week that climate risk might become “increasingly important” to sovereign credit ratings, particularly as large portions of the planet become uninsurable, intermittently on fire, or underwater. To track this unfolding inconvenience, Fitch has unveiled Climate Vulnerability Signals (Climate.VS), a sophisticated tool that assigns countries a helpful number…

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      In this week’s episode of Late Capitalism Theater, we proudly present: “Cat Bonds: Because Who Doesn’t Want a Front Row Seat to the Apocalypse?”

      Yes, friends, while sea levels rise, wildfires torch continents, and earthquakes toss cities like a toddler with a Lego set, Wall Street has cooked up yet another high-yield thrill ride for investors who like their portfolios shaken, not stirred—with a tsunami chaser. According to a paywalled Financial Times article that somehow managed to keep a…

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        This One Thing Scientists Forgot to Mention Could Change Everything About Your Future

        Bad news for anyone hoping climate change would just politely ruin other people’s countries: A new study, boldly titled Reconsidering the Macroeconomic Damage of Severe Warming has horrifyingly revealed that global warming’s economic devastation will be worse than everyone assumed. Previous climate models reassuringly predicted only mild to moderate global economic destruction, presumably comforting enough…

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