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Firefighter near Redding, California. Photo: Neal Waters/Anadolu Agency via Getty Images

Moody's is acquiring climate and natural disaster risk modeling company RMS for about $2 billion from Daily Mail and General Trust.

Why it matters: Modeling climate risk exposure is becoming critical for a growing number of industries, especially as extreme weather events are dramatically picking up in frequency and impact. Supply chain disruptions are of particular concern.

The bottom line, via Axios' Andrew Freedman: "As the impacts from climate change worsen, companies are being exposed to new risks that pose a threat to their bottom line. Incorporating climate risk information into ratings agencies like Moody's may help manage such vulnerabilities, while also helping the firm get ahead of anticipated SEC and other climate risk disclosure rules."

Go deeper

Climate reckoning for oil and gas CEOs

Illustration: Aïda Amer/Axios

Top executives from ExxonMobil, BP, Chevron and Shell will face a reckoning on Capitol Hill Thursday, as they're grilled on evidence that their companies knew for years that their products were driving climate change but chose to downplay or deny it.

Why it matters: The hearing before the House Oversight Committee will be the first time these executives have been brought together to provide sworn testimony regarding what they knew about the ties between their company's products and climate change, and when they knew it.

Ben Geman, author of Generate
Oct 27, 2021 - Economy & Business

The green venture capital surge

Data: PitchBook; Chart: Will Chase/Axios

Climate tech startups raised nearly $13 billion in the third quarter across over 200 deals, making 2021 a record VC year already with months to go, per new PitchBook analysis.

Driving the news: Electric transportation received the most investment. Third-quarter deals include the U.S. electric vehicle company Rivian's $2.5 billion fundraise and Chinese battery firm Svolt's $1.6 billion haul.

U.S. border cities again see low violent crime rates

Expand chart
Data: FBI, Kansas Bureau of Investigation, U.S. Census Bureau; Chart: Jared Whalen/Axios

Reported violent crime in the United States rose in 2020 for the first time in four years, but violent crime rates in 11 of the largest communities along the U.S.-Mexico border stayed below the national average, an Axios analysis found. 

Why it matters: Year after year, data showing low violent crime rates in majority-Mexican American and Mexican immigrant border communities dispels myths of the U.S.-Mexico border as a region filled with crime and chaos.