In the wake of two years of devastating wildfires in California, Wall Street is incorporating a new risk metric when evaluating companies: climate resiliency.
Emergency management officials on Wednesday scaled back their flooding forecasts for coastal South Carolina but urged residents not to be complacent as the rivers swollen by Hurricane Florence wreak havoc on the state.
Hurricane Florence, on track to become the first Category 4 storm to make a direct hit on North Carolina in six decades, howled closer to shore on Wednesday, threatening to unleash pounding surf, days of torrential rain and severe flooding.
More than 1.5 million people were ordered to evacuate their homes along the U.S. Atlantic coast as Hurricane Florence, a Category 4 storm and the most powerful to menace the Carolinas in nearly three decades, barreled in on Tuesday.
Insured losses in the private sector and government-sponsored programs from natural disasters came to $134 billion in 2017, making it the second-costliest year on record, broker Aon Benfield said on Wednesday.
