Weathering the Storm: Preparing for Hurricane Idalia

The story for this week The Grove is about to fall on our lap. As I sit here writing this week’s issue, Hurricane Idalia is churning in the gulf gaining power and heading towards the shores of Florida. 

We here at Mangrove Investor spent the day preparing for the storm’s arrival. Battening down the hatch on the homestead, getting groceries, filling tubs with water, checking the generators and making sure the car is fully charged.

Living in Florida my entire life, I have been through this routine many times. I stood in the eye of Hurricane David in awe of the blue skies and birds. And I witnessed Hurricane Andrew’s massive destruction of the City of Miami.

These storms are true testament to the power of nature and are not something that should ever be taken lightly.

When I look at the statistics for the number of Hurricanes decade over decade, it does not appear to be any worse today than before. But I do not think this reflects the whole storm story.

If you ask this lifelong Floridian, the storms today feel different then in the past. Whether they are faster forming more intense storms, forming earlier in the season, or not developing in the typical areas. Hurricane season is now more like Forrest Gump and his box of chocolates.

Idalia is an excellent example. The forecasts called for it to peak at a Category 2…then a Category 3. But in 24 hours, the storm grew from a Category 1 to a major Category 4 hurricane. Wind gusts in the center of the storm hit 160 miles per hour.

That’s new.

Over the past few decades, the Earth’s climate has been undergoing significant shifts, primarily driven by human activities. It is hard to think this has not affected our weather patterns and, in this case, hurricanes.

While the factors driving climate change is complex, the steps to prepare for these hurricanes remain straightforward. By staying informed, and taking proactive measures, we can enhance our resilience and protect our communities from the devastating impacts of hurricanes.

However, it is still essential to recognize that mitigating climate change at a global level is the most effective strategy to curb the intensification of these storms and secure a safer future from even worse hurricane devastation.

Stay strong Florida and see you on the other side of Idalia.

For The good

Michael Nichols

Numbers to Know

215

Hurricane Patricia was an exceptionally powerful tropical cyclone, the strongest on record worldwide in terms of wind speed at 215 mph and the second-most intense on record worldwide in terms of pressure, behind Typhoon Tip of 870 mbar in 1979. (Wikipedia)

300,000

Cyclone Bhola, which grew from a depression in the Bay of Bengal, hit what was then East Pakistan on 12 November 1970. It is estimated that more than 300,000 people perished during this storm. (World Meteorological Organization)

193 Billion

Hurricane Katrina (2005) is the most costly on record causing and estimated 193 billion dollars in damage. (NOAA)

What’s New in Sustainable Investing

Business schools must step up on sustainable investing education

Developing competence in sustainable investing requires a serious revision in business school. It’s simply part of proper due diligence in portfolio investing, similar to analyzing financial factors. (The Conversation)

Former BlackRock exec: Many ESG experts are “underqualified“

BlackRock’s former chief investment officer of sustainable investing was asked if he thinks the biggest problems with ESG, such as greenwashing, are due to the fact that professionals are “underqualified” and “unable to articulate the risks and opportunities sufficiently”. (Financial News)

Video Of The Week

---