Its loss in value is an external cost to operations that are causing the extreme weather that is resulting from climate change. There is re-valuation due to re

Its loss in value is an external cost to operations that are causing the extreme weather that is resulting from climate change. There is re-valuation due to re-estimation of risk and cost of remediation. There are climate refugees, with less equity gains and property investments in high risk markets that now might not appreciate as quickly.