by Daniel Brouse and Sidd Mukherjee The Multiplicative Climate Risk Formula The Multiplicative Climate Risk Formula is a real-estate climate-risk model designed to capture how multiple hazards and vulnerabilities can interact and compound rather than occur independently. The framework incorporates interconnected risks including sea-level rise, storm surge, extreme precipitation, flooding, hydroclimatic whiplash, wildfires, drought, extreme […]
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High-Risk U.S. Real Estate Regions Under the Multiplicative Climate Risk Framework
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Tagged climate change, economy, flood insurance, real estate
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Wildfire Catastrophe Bonds Surge as Insurers Transfer Record Climate Risk to Capital Markets
by Sidd Mukherjee and Daniel Brouse A New Era of Climate Risk Finance Wildfire-exposed catastrophe bond issuance has surged to $5.183 billion year-to-date in 2026, rapidly approaching the full-year record of $5.55 billion set in 2025. Driven by escalating wildfire losses, expanding climate risks, and increasingly sophisticated risk models, insurers are turning to global capital […]
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Tagged climate change
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Climate Change Impacts and You: The Rising Cost of a Changing Climate
by Daniel Brouse Introduction Climate change is no longer simply a future environmental threat. It is increasingly affecting American households through higher costs, declining air quality, extreme heat, infrastructure disruptions, property damage, and changing patterns of disease. Although catastrophic floods, hurricanes, wildfires, and other disasters dominate the headlines, the most widespread climate impact may be […]
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Tagged climate change, real estate
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Climate Change and the Global Insurance Crisis: Rising Losses, Retreating Insurers, and the Growing Protection Gap
by Daniel Brouse Climate change is fundamentally destabilizing insurance markets by driving increasingly severe financial losses, pushing premiums sharply higher, and causing insurers to reduce or withdraw coverage in some high-risk regions. As extreme weather events become more frequent and, in many cases, more intense, traditional underwriting models are being challenged by rapidly changing risk. […]
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The Two Sides of the Climate Crisis: Consumption and Production
by Daniel Brouse Climate change is often discussed as a problem of emissions, but emissions are the result of two interconnected forces: consumption and production. Q: What are the greatest drivers of climate change?A: Consumption and production. At present, I would rank our addiction to consumption and ecofascism as the two most significant drivers of […]
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State Your Climate State
Estimated Consumption-Based Climate Footprint (tCO₂e per person per year) Rank State Estimated Footprint Primary Drivers 1 Wyoming 28–31 Large homes, long travel distances, fossil-fuel lifestyle 2 Alaska 27–30 Heating, aviation, imported goods 3 North Dakota 25–28 Energy-intensive lifestyle, heating 4 Texas 24–27 Large homes, automobiles, air conditioning 5 Louisiana 23–26 Cooling demand, transportation 6 Oklahoma […]
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The Composite Climate Responsibility Index (CCRI): A Lifecycle, Population-Normalized Framework for Measuring State-Level Climate Responsibility
by Daniel Brouse The Composite Climate Responsibility Index (CCRI): A Lifecycle, Population-Normalized Framework for Measuring State-Level Climate Responsibility Abstract Greenhouse gas accounting has traditionally relied on territorial emissions—the greenhouse gases emitted within a political boundary. While this approach provides a standardized framework for national and subnational reporting, it systematically underestimates the climate responsibility of fossil […]
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America’s New Tariff Landscape: Who Gets Taxed—and Who Really Pays?
Introduction The latest U.S. tariff framework is now in place, and while tariffs are collected at the border, it’s American families who ultimately pay most of the bill. 📊 Highlights:• Average household: +$2,000–$2,700 per year• Buying a new home and a new car? The added cost from tariffs on steel, aluminum, lumber, vehicles, appliances, and […]
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Accounting for Climate Responsibility
by Daniel Brouse Comparing Two Approaches to Measuring Humanity’s Climate Footprint Climate responsibility depends on how emissions are assigned. Traditional territorial accounting attributes emissions to the country where they occur, but globalization has made that approach increasingly incomplete. Modern supply chains, international trade, and service-based economies often separate where emissions are produced from who ultimately […]
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The Carbon We Own: Why Consumption Matters More
by Daniel Brouse For decades, climate responsibility has often been measured by where fossil fuels are extracted or where products are manufactured. While useful for tracking national emissions, this production-based approach can misrepresent who ultimately drives demand. A consumption-based accounting approach shifts the focus to the end user. Instead of assigning emissions to the country […]
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