Climate Center Archives

Will it become impossible to get a mortgage in high-risk areas in a decade?

(Outlet: NPR) Federal Reserve Chairman Jerome Powell warned that it may become impossible to get a mortgage in some high-risk areas in 10-15 years. Is he right? Michel Martin asks University of Pennsylvania real estate professor Ben Keys.…Read More

Incentivizing Consumers to Use Energy Wisely

(Outlet: Wharton Business Daily) Wharton business economics and public policy professor Arthur van Benthem discusses his research on the benefits of dynamic electricity pricing.…Read More

California Wildfires: ESG Initiative Research and Resources

Fire fighting helicopter carry water bucket to extinguish the forest fire.

This collection of ESG Initiative research from the past eight years addresses cost and recovery from natural disasters, in light of the devastating California wildfires.…Read More

Climate Change to Wipe Away $1.5 Trillion in U.S. Home Values, Study Says

An image from the California Palisades wildfires, with palm trees in the background and a religious figurine on top of a demolished site in the foreground.

(Outlet: The Wall Street Journal) Rising home-insurance costs and more homeowners spurning some risky neighborhoods will drive these declines, according to First Street.…Read More

Energy Poverty and Utility Disconnections in the United States, with Sanya Carley

(Outlet: Resources Radio) In this week’s episode, host Daniel Raimi talks with Sanya Carley, a professor and faculty director at the University of Pennsylvania and a university fellow at Resources for the Future, about energy poverty in the United States. …Read More

As climate risks mount, homeowners far beyond California face soaring insurance bills

Burned house and backyard area in California wildfires.

(Outlet: CBS News) As disasters linked to climate change become more frequent in the U.S., homeowners across the country are paying the price through skyrocketing insurance costs — and not only in states like Florida and California that are considered most vulnerable to global warming. …Read More

With Housing Safety And Affordability At Stake, Experts Share Ideas

Map of average annual insurance premiums in the first half of 2023 by county showing many counties already stressed by high premium prices. From National Bureau of Economic Research

(Outlet: Forbes) As wildfires roar across southern California, these natural disasters are not only destroying homes but taking lives. Home insurance costs also are taking on a whole new dimension.…Read More

We Will All Be Paying For L.A.’s Wildfires

In a composite image, a map of North America is pictured alongside firefighter James Lyons spraying water on a home burned by the Palisades Fire.

(Outlet: The Lever) Los Angeles’ wildfires and an industry-tied insurance regulator may prove a tipping point for the country’s faltering financial safety net.…Read More

Insurance cost of Los Angeles wildfires may be felt in Australia

(Outlet: ABC News Australia) California’s devastating wildfires have exposed an insurance crisis plaguing many disaster-prone areas around the world, and risk pushing up premiums in Australia.…Read More

Researchers at the University of Pennsylvania calculate the hidden factor that can make companies less valuable than investors think: ‘We were still shocked’

(Outlet: The Cool Down) The baseline estimate of the burden is 131% of a firm’s total equity value. A paper from the University of Pennsylvania has outlined how one surprising factor could be reducing the value of various firms, and getting a handle on the issue would be a smart move for shareholders, employees, and customers. …Read More