Climate change is often discussed as something occurring in a distant future - an event we have time to prepare for and perhaps even prevent if we course correct. The future is already here in western North America.
Over the last two decades, climate change and a megadrought have wrought havoc on the region’s most vital water supply, the Colorado River. As municipal bond (muni bond) investors in utilities, Franklin Templeton are watching these events unfold while they continue to monitor municipal bond opportunities in the region. They believe muni bond investors play an important role in providing capital to these utilities in funding their capital needs to promote a reliable water supply in the face of mounting water supply stress.
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