Report Finds ‘A Gulf’ Between What Activist Cities Tell Investors, Courts About Climate Change Risks
Climate activists don’t want to admit it, but there is a contradiction at the heart of many of the climate liability suits filed by various American cities against energy companies. Now a new report is out, analyzing the data and showing that cities told two very different stories about the likelihood of climate change harms when talking to investors and to trial lawyers.
After a yearlong study of bond issuances by 40 major U.S. cities, the Government Accountability Institute (GAI) found that mayors’ “apocalyptic” projections about the effects of climate change are rarely factored into the interest rates of the bonds these municipalities issue, undercutting one of the key arguments used in the liability suits.
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