Climate and weather
92 of 521 companies added a paragraph in Risk Factors that uses one of these words:
climate change, greenhouse gas, carbon emissions, extreme weather, hurricane, wildfire.
The paragraph is in the latest 10-K and nothing like it was in the one before.
It counts text; it does not say how serious a risk is. Words in capitals only (such as AI) must be in capitals.
By sector
Sector is the SEC's industry description of the company. Each count opens that sector's quotes below.
| Sector | Companies | Compared |
|---|---|---|
| Accident & Health Insurance | 2 | 2 |
| Apparel & Other Finishd Prods of Fabrics & Similar Matl | 1 | 1 |
| Construction, Mining & Materials Handling Machinery & Equip | 1 | 1 |
| Engines & Turbines | 1 | 1 |
| Food and Kindred Products | 1 | 1 |
| Gas & Other Services Combined | 1 | 1 |
| Gold and Silver Ores | 1 | 1 |
| Grain Mill Products | 1 | 1 |
| Heavy Construction Other Than Bldg Const - Contractors | 1 | 1 |
| Meat Packing Plants | 1 | 1 |
| Misc Industrial & Commercial Machinery & Equipment | 1 | 1 |
| Miscellaneous Fabricated Metal Products | 1 | 1 |
| Natural Gas Transmisison & Distribution | 1 | 1 |
| Oil & Gas Field Machinery & Equipment | 1 | 1 |
| Paper Mills | 1 | 1 |
| Retail-Eating & Drinking Places | 1 | 1 |
| Retail-Radio, Tv & Consumer Electronics Stores | 1 | 1 |
| Services-Engineering, Accounting, Research, Management | 1 | 1 |
| Special Industry Machinery (No Metalworking Machinery) | 1 | 1 |
| Television Broadcasting Stations | 1 | 1 |
| Crude Petroleum & Natural Gas | 5 | 7 |
| Retail-Eating Places | 2 | 4 |
| Agricultural Chemicals | 1 | 2 |
| Converted Paper & Paperboard Prods (No Contaners/Boxes) | 1 | 2 |
| Fats & Oils | 1 | 2 |
| Men's & Boys' Furnishgs, Work Clothg, & Allied Garments | 1 | 2 |
| Mining & Quarrying of Nonmetallic Minerals (No Fuels) | 1 | 2 |
| Printed Circuit Boards | 1 | 2 |
| Refuse Systems | 1 | 2 |
| Retail-Lumber & Other Building Materials Dealers | 1 | 2 |
| Rubber & Plastics Footwear | 1 | 2 |
| Services-Computer Programming Services | 1 | 2 |
| Ship & Boat Building & Repairing | 1 | 2 |
| Electric & Other Services Combined | 5 | 12 |
| Laboratory Analytical Instruments | 2 | 5 |
| Petroleum Refining | 2 | 6 |
| Air Transportation, Scheduled | 1 | 3 |
| Computer & office Equipment | 1 | 3 |
| Computer Communications Equipment | 1 | 3 |
| Electronic Computers | 1 | 3 |
| Plastic Materials, Synth Resins & Nonvulcan Elastomers | 1 | 3 |
| Finance Services | 9 | 28 |
| National Commercial Banks | 3 | 11 |
| Fire, Marine & Casualty Insurance | 3 | 12 |
| Investment Advice | 2 | 8 |
| Electronic & Other Electrical Equipment (No Computer Equip) | 1 | 4 |
| Search, Detection, Navigation, Guidance, Aeronautical Sys | 1 | 4 |
| Electric Services | 3 | 15 |
| Semiconductors & Related Devices | 3 | 15 |
| Surgical & Medical Instruments & Apparatus | 2 | 10 |
| Hotels & Motels | 1 | 5 |
| Industrial Instruments For Measurement, Display, and Control | 1 | 5 |
| Orthopedic, Prosthetic & Surgical Appliances & Supplies | 1 | 5 |
| Pharmaceutical Preparations | 2 | 11 |
| Insurance Agents, Brokers & Service | 1 | 6 |
| Services-Business Services, NEC | 2 | 16 |
| Real Estate Investment Trusts | 3 | 27 |
| Services-Prepackaged Software | 1 | 19 |
141 paragraphs · Real Estate Investment Trusts show all sectors
Furthermore, we also may face pressure from certain stakeholders, such as the communities in which we operate, who are increasingly focused on climate change and shortages of power, land and water resources, which are different pressures than those faced by our tower leasing operations. Such pressure could lead to federal, state or municipal governments imposing more stringent regulations and requirements to control the growth and development of data centers in their communities. New builds and further expansion of data center operations in such markets are increasingly being evaluated and approvals, if required, may only be granted where we are not only able to demonstrate that our operations are efficient in their use of energy and water but also that they have and/or will bring positive and significant environmental, economic and social impact to their local community.
Read in the 10-K filed Feb 24, 2026 ↗
weather patterns, and storm surges. In addition, properties in certain regions may face heightened exposure to wildfire and drought
Read in the 10-K filed Jan 26, 2026 ↗
uncertainty with respect to climate change policy. For example, in January 2025, the U.S. submitted notice of withdrawal from the Paris
Read in the 10-K filed Jan 26, 2026 ↗
While we believe our insurance coverage and that of our tenants is currently appropriate based on industry practice and consultant analysis, we remain subject to the risk that such coverage will not fully account for all losses. Intensifying natural disasters and extreme weather events, coupled with the current economic climate, have affected the capacity of insurers to underwrite risk. This has led to increased premiums and deductibles, or limited availability of coverage altogether. Responding to these insurance limitations or to the direct effects of climate change may require significant capital expenditures without a corresponding increase in revenue. (For further information, see “Item 1A — Risk Factors — Our Tenants, operators and managers may not have the necessary insurance coverage to insure adequately against losses.”)
Read in the 10-K filed Feb 12, 2026 ↗
Our business faces an evolving landscape of climate-related mandates. Several states in which we operate have enacted or proposed statutes and regulations addressing climate change and sustainability, while others have introduced divergent or conflicting policies. If our properties fail to meet emerging resilience or energy efficiency standards, or fall below the expectations of operators and residents, our business and competitive position could be harmed.
Read in the 10-K filed Feb 12, 2026 ↗
Furthermore, we may face increased capital expenditures to support transitions to renewable energy sources or to meet “net zero” carbon targets, whether driven by national, state or local legislation or by broader market expectations. Should these regulatory burdens increase or the long-term impacts of climate change prove material, including significant property destruction or prolonged operational disruptions, our financial condition, results of operations and the capital invested in our properties could be adversely affected.
Read in the 10-K filed Feb 12, 2026 ↗