Felix Salmon

Felix Salmon is a financial blogger at Reuters.

risk mismanagement

Corporations love to talk about going green, but not many are planning for a changing climate

About a decade ago, Miguel Torres planted 104 hectares of pinot noir grapes in the Spanish Pyrenees, 3,300 feet above sea level. It’s cold up there and not much good for grapes — at least not these days. But Torres, the head of one of Spain’s foremost wine families, knows that the climate is changing. His company’s scientists reckon that the Rioja wine region could be unviable within 40 to 70 years, as temperatures increase and Europe’s wine belt moves north by up to 25 miles per decade. Other winemakers are talking about growing grapes as far north as Scandinavia …

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