Environmental change

Bankers say businesses aren't doing enough to prep for climate change

In this image, burned and wrecked cars sit in the foreground of the picture while in the background, a worker tries to fix electricity on a telephone pole.
A worker repairs a utility line in the aftermath of the Camp fire in Paradise, Calif. Photo: Justin Sullivan/Getty Images

While governments and corporations are starting to protect themselves from the impacts of climate change, Morgan Stanley says private businesses need to do more.

What to watch: The investment bank's strategists are recommending companies strongly consider preparing for a world with more frequent and intense weather events, rising sea levels, changes to agriculture and the spread of infectious disease.

Andrew Wheeler blames forest management as cause of wildfires

Andrew Wheeler.
Andrew Wheeler. Photo: Win McNamee/Getty Images

Acting EPA administrator Andrew Wheeler told senators during his confirmation hearing Wednesday, "I think the biggest issue with wildfires is forest management ... not drought."

Why it matters: Studies show that climate change, which is leading to hotter, drier summers in California, is tied to the sharp increase in large wildfires in that state and other parts of the West, along with a lengthening fire season, Axios' Andrew Freedman notes. Forest management and population growth are also factors, but they don't explain the entire situation.

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