BLOOMBERG • January 6, 2022
The U.S. utilities sector could suffer annual losses of up to $4.1 billion as climate hazards threaten to batter the industry’s infrastructure, according to a new report. Roughly one in five global power lines are heavily exposed to rising sea levels, hurricanes, wildfires and storms, according to BloombergNEF data published Wednesday. In the U.S. alone, 435,000 miles of power grids are vulnerable to physical climate hazards — just shy of the distance to the moon and back.