Your property is worth $0: Welcome to climate change

Say you own a $5 million waterfront home in a prime spot of a booming city. Life’s pretty good right - what could possibly impact the value of your house to any significant extent? Ron Temple of Lazard Asset Management says real estate – along with other financial assets – are all exposed to climate change risks. For example, a 4C surge in temperature will sink 200km of coastline and trillions of dollars’ worth of property in Florida. But it isn’t after the fact that those property values will be affected.

“If this is going to happen in 20 years, do you now start to value the property at 50% or 75% less of what it was? And what does that mean for the mortgage you borrowed, and what does that mean for the mortgage-backed securities that were issued with that loan inside them?”

Here Ron talks expands on how climate risk is interconnected with financial markets and highlights the need for investors to consider environmental, social and governance factors into investing.

[bobbyt-bone]

He’s right. 1 degree of warming equals 20 feet sea rise. We are already at 1 degree. But it’s takes time for ice to melt and oceans to expand. We already have 20 feet baked in. Slowly it will rise until there is a tipping point and then it will accelerate.

[ashleythomson]

WOW, he said all of that with a straight face, I guess if you tell a lie often enough you start to believe your own Lie's

[redbear]

Externalities are real. The ecosystem is finite nature creates the boundaries for life on Earth and the hubris of each individual human is magnified in the aggregate.

[maragrace]

Except that the East coast has been colder than usual.

[thecitizenjoan]

He’s so handsome to me I don’t why. Also what he’s saying makes so much sense.

[zwarst]

Straight out the box, no debate just BS

[torgeist]

"In the last 45 years, just to give you a few statistics, the CO2 in the atmosphere has gone from 330ppm in 1975 to over 410 in the last few years", he says. No. You did not take the last 45 years to give us an example. You chose 45 years because that's the time frame that fits your narrative. That's called sherry picking of datasets. Nevermind what happened over the course of millions of years... You just picked 45 years out of 4.5 Billion years (4.500.000.000) since the earth was formed or the last 3.700.000.000 years since life on earth appeared, spot a correlation (between CO2 and Temperature) and blamed it on men. And actually, it's a very poor correlation because, if CO2 has gone up exponentially, why has the temperature not gone up exponentially too?

[richardburton]

Why does he only look back at data since the 1950's? There are many more decades of data that give an entirely contrary view. Look at the wider picture.

[bop-ya-good]

Ocean hasnt risen in Sydney for 120 years....

[redbear]

Banks and insurance companies determine the value of your home as well as the market. The overall naivety of the speaker is really too much for me.

[bilby]

I'm sure Tim Flannery is wishing he doesn't own a water front property. Or perhaps he's not that worried at all. I think this video is just a bit of fear mongering. It makes Livewire Markets lose some credibility by having such blatant alarmism. I'm close to unsubscribing.

[johnnygalt]

earth might be 1 degree warmer in 100 years. gotcha.

[joelafrite]

Let's put all the CO2 back into atmosphere, where it came from. What will we get? Lush forests with dinos in it? But wait, we can't. We would have to burn all the marble into concrete, also the coral reefs. Maybe then dinos and mammoths?

[saltiplumz]

When will they ever stop this propaganda?

[BluesdesJours]

none of these people seem to be aware of weather modification or the fact that artificial cirrus clouds made by jet trails have a huge impact on climate