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More companies are flagging wildfire risk as suppression costs climb

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Firefighters battle a wind driven wildfire in the hills of Canyon Country north of Los Angeles, California, U.S. October 24, 2019.

Gene Blevins | Reuters

California’s biggest utilities aren’t the only U.S. companies grappling with the increased force and frequency of wildfires.

The number of S&P 500 firms flagging “wildfire” as a potential risk factor in annual reports has increased dramatically over the past decade — from 9 in all of 2010 to 37 so far in 2019. In just the past year, at least 14 companies in the S&P 500, including Marriott and Monster Beverage, have added wildfires to their basket of concerns in 10-K filings with the Securities and Exchange Commission. While many S&P 500…



Source cnbc.com

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