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How
to Cash in on a Warming Planet - by Adam Aston
Set aside, for now,
the really complex and costly financial implications of climate change.
Ignore the tricky abstractions of carbon trading. Forget the worries over
flooded cities and the ins and outs of renewable energy. |
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Instead,
consider just a few everyday money-making ideas created by the warming of
our planet. For example, oenophiles could short the stocks of vintners in
drought-prone areas such as Australia or California and bet on upstarts in
Canada and England, where new wineries are sprouting as temperatures rise.
Or, since ski resorts are seeing less and less snow, it might make sense to
buy and hold manufacturers of snowmakers.
Of course, the potential of climate-change investing goes far beyond mere
curiosities. A growing number of advisers to big
institutional investors and
high-net-worth types are sizing up companies based on how likely they are to
benefit from rising energy prices, stricter regulations, and changes to the
natural world ranging from freshwater shortages to new disease patterns and
more chaotic weather. Since public opinion is increasingly driving U.S.
policymakers to act, analysts' climate predictions need not be perfectly
prescient to pay off. "Perception drives valuations," says Edward M. Kerschner, chief
investment strategist for Citi Global Wealth
Management
(C), who recently made public a list of some 90 "climate consequences
companies" he believes could excel as the climate changes and limits on
carbon emissions multiply.
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