Forget ‘woke’ investors; free market raising the climate cost in Florida, Texas

By Trey Thoelcke Updated May 11, 10:06AM EDT · Published May 11, 4:04AM EDT

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Forget ‘woke’ investors; free market raising the climate cost in Florida, Texas — © Joe Raedle / Getty Images News via Getty Images

(Mark Hulbert, an author and longtime investment columnist, is the founder of the Hulbert Financial Digest; his Hulbert Ratings audits investment newsletter returns.)

CHAPEL HILL, N.C. (Callaway Climate Insights) — Florida residents are paying $803 more per year for homeowners insurance because of climate change risks. Texas residents are paying $1,170 more.

That’s the conclusion I reached from my analysis of homeowner insurance rates in those states most vulnerable to climate-related disasters. There is a statistically significant correlation between the magnitude of that vulnerability and insurance rates.

There is much irony in this conclusion. Florida and Texas have led the charge against so-called “woke” finance. Asset managers have been prevented from doing business with state agencies for having the audacity to, in effect, suggest that climate change poses huge investment-related risks. Ironically, the folly of these two states’ approach is being revealed not by a bunch of bleeding-heart liberals but by that bastion of conservative ideology: The free market.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.