Temperatures and sea levels are rising gradually.
So what’s the urgency to protect your finances?
Your coal stocks were quickly trashed by fracking, your career at the EPA dead-ended by Trump, and the value of your home in the flood plain may be hurt suddenly this September when flood insurance rates change.
There are good and bad moments to buy and sell assets, move house, or change your career, and climate change is going to create more of these moments. Some will come suddenly, as ‘tipping points.’
The next destructive coastal storm, even if it’s not nearby, could overnight knock the attractiveness out of coastal property – even out of living in a coastal county, as fifty percent of Americans do. Conversely, properties in a climate-proof county (healthy local finances, no drought, flooding, or rising air conditioning needs) could get ‘discovered’ overnight. Home prices in those towns could quickly move out of reach.
Sure, drought encroaches over time and the oceans rise slowly. But public opinion, conventional wisdom, investment fads, and crowd psychology – they change overnight. The slowness of global warming doesn’t justify slow thinking about our assets and careers. Don’t wait for the next climate tipping point; start positioning yourself for climate-proof savings today.