“Most institutional investors turn their portfolio over on average every two years or less. They haven’t focused on global warming because there is no federal legislation that limits CO2 at this time. Company planning horizons and investor horizons don’t match. Insurance companies have a much longer time horizon. There have been instances of people being denied flood insurance based on concerns that water levels may rise due to global warming.”
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Ms. Furey is senior director of Fitch Ratings’ global power group. Her responsibilities include the analysis and ratings of electric utilities, energy marketers and wholesale electric generators. She has worked in commercial banking and bond insurance, most recently with MBIA, where she analyzed energy companies and structured finance transactions.
