Snowfall has decreased 15% in California since the late 1970s, with precipitation falling as rain instead. On current emissions trajectories, the state will likely experience 60% to 90% decline in the annual average number of days below freezing by 2100, as precipitation increasingly shifts from snow to rain and snow melts earlier. The Sierra region… Read More Sierra snowfall has decreased 15% since the late 1970s
The ski industry in the United States, worth over $10 billion and vital to thirty-seven states, is being threatened by climate change due to rising snowlines, earlier spring melt, and more winter precipitation falling as rain. The industry has limited direct options for adaptation. Artificial snowmaking can be used but it is energy-intensive, water-demanding, has… Read More US ski industry has limited options for adaptation
Investors should view climate exposure as a real valuation issue for Vail Resorts (MTN) and the ski industry widely that has measurable financial impact. This is because revenues are driven by the number of skier visits, which is correlated with snowfall, which is in turn affected by climate change. Also, to a lesser extent, reduced… Read More Climate is material investor valuation issue for Vail: Stanford
Colorado snow melt has advanced 1-4 weeks in past 30 years due to lower snow-water equivalent and warmer springtime temperatures. Source: Gordon et al. (January 2015). Colorado Climate Change Vulnerability Study. University of Colorado Boulder and Colorado State University.
All components of the cryosphere have been in decline over the past few decades (see figure 4.25), with Northern Hemisphere spring snow cover continuing to decrease in extent, and glaciers losing mass and contributing to sea level rise throughout the 20th century. The strong and significant changes reported to the cryosphere in IPCC’s last major… Read More Cryosphere decline continues, Northern Hemisphere snow and glacier loss accelerates: IPCC
The U.S. winter tourism industry is worth $12.2 billion (including $3.1 billion in taxes) from snowmobiling, snowboarding, ice fishing, snowshoeing and skiing, and related activities with restaurants, lodging, gas stations, grocery stores, and bars. The biggest source of value is resort operations ($2.9 billion, 75,900 jobs) followed by dining ($942 million, 31,600 jobs). Figure 8… Read More $12B US winter tourism industry lost $1.07 billion to warming in 1999-2010
Global warming will significantly reduce snowpack in the Western United States, especially those areas that are just near freezing temperatures. Some of the most affected areas include Arizona, New Mexico, and the Lake Tahoe. Source: Butsic, Hanak, and Valletta (2009). Climate Change and Housing Prices: Hedonic Estimates for Ski Resorts in Western North America. Federal… Read More Low-lying ski areas in the western US are losing snowpack