How Climate Change Caused PG&E’s Bankruptcy
Veris Guest Blog: By Timothy P. Dunn, CFA
Pacific Gas & Electric (PG&E) Corporation, California’s largest investor-owned utility, which serves roughly 5.2 million households in central and northern California, filed for bankruptcy and is facing an estimated $30 billion of potential liabilities stemming from its equipment’s role in the historic 2017 and 2018 wildfires.
PG&E’s bankruptcy is indicative of how our changing climate presents real economic and financial risks for companies and investors.