An article in last week’s Harvard Business Review is headlined “Are We On the Verge of Another Financial Crisis?” And no, this time it’s not coronavirus-related. The piece is an interview with John Macomber, a senior business administration lecturer at Harvard Business School’s finance unit, who is concerned that reluctance to acknowledge the risk posed by climate change to real estate values in the US – and by extension, globally – is paving the way for another 2008-style global financial crisis. Mr. Macomber calculates that thus far this year, there have been 16 weather-related disasters in the US costing more than US$1 billion versus an annual average of just 6.6 in the 40 years prior to 2020.