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
In the western U.S., Decreases in snowpack, less snowfall, earlier snow melt, more winter rain events, increased peak winter flows, and reduced summer flows have been documented. Western temperatures have increased more at high elevations than at lower ones, meaning that the West’s warming has been concentrated where snow falls and is naturally stored in… Read More Western US snowpack is especially vulnerable to climate warming
Globally, long term declines in mountain snowpack have been observed and are further projected over the past three decades, particularly at lower, warmer elevations. Increasing air temperature in mountainous regions will raise snow lines and major reductions in snow cover are projected for mid-latitudes in general by the end of this century with lower, warmer… Read More Long term declines in mountain snowpack continue: IPCC
The average monthly extent of snow cover in the Northern Hemisphere has declined 1.3% per decade, with the greatest losses in the spring and summer, over the last 40 years. In the last 50 years, the U.S. snow season has become 16 days shorter, with peak run off over a week earlier. Source: United Nations… Read More Northern hemisphere snow cover declining 1.3% per decade: UNEP
Average temperatures in Aspen increasing by 3° F, and the number of frost-free days per year increasing by 20 days (25-year trend). At current greenhouse gas emissions trends, the ski season is likely to continue starting later, ending earlier, and losing snow depth until snowpack finally disappears and ends skiing in Aspen and Park City… Read More Aspen has been warming 3° F over the past 25 years