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Using ESG Integration to Enhance Risk Controls

By: ETFdb
By Nick Erickson, Vice President, Portfolio Management As the effects of climate change become more prevalent, the potential for unexpected and significant impacts to credit risk has increased for municipal issuers. Rising sea levels, droughts, wildfires, and deep freezes, to name a few, have recently put additional strain on government budgets, especially those that are both structurally and financially ill-prepared. Whether it’s an unexpected deep freeze in the heart of Texas or increasingly common wildfires in California, these emerging risks need to be considered when assessing the credit quality of an issuer.
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