> The losses that individual property owners can realize might be devastating, but evidence I've seen so far suggests that these sorts of events don't have much

> The losses that individual property owners can realize might be devastating, but evidence I've seen so far suggests that these sorts of events don't have much of an effect on bank performance. That may be in part attributable to banks and other investors effectively pricing physical risks from climate change into loan contracts. Ah ok. Easy. > What about transition risks? Transition risks are generally neither near-term nor likely to be material given their slow-moving nature and the ability of economic agents to price transition costs into contracts. We got to fix things in a huge way before 2035 or so. Is that slow moving ? This guy can sure keep its cool.