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From the Current Issue

How climate change is triggering a green-tech revolution

by Jeffrey Kanne and Darob Malek-Madani

The future, as advertised in the face of climate change, looks bleak. The world expects, and is already experiencing, more droughts and floods, deadlier fires, bigger storms, more disease, and rising sea levels. Experts tell us as climate disasters grow, it will be difficult to maintain existing infrastructure, whether for subways in New York City, drinking water in Las Vegas, or floodwalls in Miami. Learning to live in a warming world will be difficult and will likely mean the forced restructuring of fundamental aspects of the world economy, including nearly 85 percent of all energy generation, according to U.S. Energy Information Administration independent statistics and analysis, and rebuilding infrastructure to withstand the environment of the future. This future can feel a bit daunting. But, as Albert Einstein is credited with saying, “in the middle of difficulty lies opportunity,” and we see opportunity.

From the Current Issue

Clouded by drought: Hydropower essential to U.S. electric grid, but its future is questionable

by Caitlin Grady and Lauren Dennis

The water in Lake Powell, one of the nation’s largest reservoirs, has fallen so low amid the Western drought that federal officials are resorting to emergency measures to avoid shutting down hydroelectric power at the Glen Canyon Dam. The Arizona dam, which provides electricity to seven states, isn’t the only U.S. hydropower plant in trouble. The iconic Hoover Dam, also on the Colorado River, has reduced its water flow and power production. California shut down a hydropower plant at the Oroville Dam for five months because of low water levels in 2021, and officials have warned the same could happen in 2022.

From the Current Issue

Shelter from the storm: Investors can consider commodities to shore up portfolios

by Celia Dallas

Can commodities still provide shelter in the storm as both stocks and bonds suffer losses? Yes, although such investments are not for the faint of heart. As we have seen in 2022, both stocks and bonds have lost value as inflation expectations have escalated. The current environment favors building robustness into portfolios, and exposure to commodities — in addition to high quality bonds — could be a part of this, particularly for investors whose finances are more exposed to inflation risk. While rising recession pressures would favor bonds, continued elevated inflation favors commodity futures and natural resources equity allocations. Prospects for commodity-related assets have improved over a three- to five-year holding period, even considering commodities’ recent strong run.

From the Current Issue

Aging out: The quiet crisis in the financial wealth advisory business

by John Cadigan

The financial advice industry has a problem that no one seems to want to discuss. Financial advisers are aging out of the industry at an increasing pace, with too few in the pipeline to take their place. There are currently more advisers over 60 years of age than under 30 years and the industry keeps getting older. In fact, after years of flat growth in headcount, the adviser market has begun to contract this year because it’s proven so difficult to bring new talent into the business.

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