This summer in Ontario has been marked by a combination of heavy rainfall and unusually high temperatures. June witnessed record-breaking heat, followed by 10 of the hottest days ever recorded in early July, leading to potential threats to life and straining power grids. As a result, 2023 is on track to become the warmest year ever recorded since official temperature records began in 1850.
The implications of such warming trends extend to aviation, as flyers will notice an increase in turbulence due to the additional carbon dioxide emissions which increases windshear in the jet streams.
I’m going to have an interesting call with one of our ESG specialists lined up for our next seminar.
Some might argue with what the cause of the warming is, but as they say: “the math doesn’t lie”. Temperatures are rising:
From an investment perspective, it is definitely going to be one of the main considerations for this generation and generations to come. Whether it’s the type of investments we make, or where people decide to live. In many parts of Florida for instance, along the coasts, insurance companies will no longer provide coverage for single-dwelling homes. Insurance coverage has increased 5-fold in many areas due to the devastation occurring from the effects of climate change. As alluded to above, travel might also have to be altered due to the severe jet stream turbulence that we increasingly read about.
On the topic of things changing over generations, it was a historical Wimbledon men’s final last weekend. Long-time readers would be aware that my go-to favorite, Carlos Alverez won his first Wimbledon (surely the first of many). Sadly, my summer fortnightly publication prevented this prescient pick in advance! From a historical perspective, it was the first time in more than 20 years that one of the “old-guard”: Djokovic, Federer, Nadal or Murray didn’t win.
It hasn’t had the press it deserves, but the 2023 FIFA Women's World Cup is currently being jointly hosted by Australia and New Zealand, and is taking place from 20 July to 20 August 2023. While cheering for Canada, I’m going to pick the defending champion US women to win again.
Have a great weekend!