A new report offers a window into how specialists view the long-term fiscal risks of climate change.
Bottom line: “The interplay between an issuer’s exposure to climate shocks and its resilience to this vulnerability is an increasingly important part of our credit analysis, and one that will take on even greater significance as climate change continues,” the report states.
“We are always seeking to be as transparent as we possibly can with respect to how we go about reaching our ratings conclusions,” Michael Wertz, a senior analyst with Moody’s, tells Axios.