Munis to Absorb First Hit From Climate Change: Breckinridge Q&A

State and local-government bonds are likely to be the first corner of the financial markets to contend with the strains of climate change, says Peter Coffin, president of Breckinridge Capital Advisors, a fixed-income investment manager overseeing about $47 billion.

The challenge for muni investors is that the risks associated with a warming world, like increased flooding or heat, are poised to buffet the balance sheets of local governments whose bonds often mature decades in the future.

Peter Coffin

Source: Breckinridge

Coffin said his Boston-based firm gives “significant weight” to the engagement of borrowers in this area -- focusing on what they disclose ...