Matt Levine, Columnist

Maybe the Companies Will Fix the Climate

Also custody, insider trading and helicopter money.

July 11, 2019 at 4:05 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Let’s say you’re a real estate company. Say you own apartment buildings and make money by renting out the apartments. Some of your apartment buildings might be in desirable ocean-front locations and command premium rents. If sea levels rise dramatically, those buildings will be in significantly less desirable underwater locations, and command no rents. This will be bad for business.

What should you do about that? I don’t know, I am not in the real estate business. Since we are talking about it, I suppose I would say things like: