How Climate Change Is Making Megafires More Common in Europe

Summary

Bloomberg's Joe Wertz reports that Europe is experiencing unprecedented megafires due to climate change, with fires creating their own firestorms. The discussion shifts to the policy response and the need for expensive land management and prevention. Anchor Romaine Bostick mentions AXA CEO's perspective that prevention is key, but no direct investment thesis is articulated.

• European wildfires in summer 2022 were remarkably severe, with rapid spread and firestorms.
• These conditions represent a new era of unprecedented fire behavior in places like France.
• Fire scientists confirm these dangerous fires are now the norm.
• EU has deployed record numbers of firefighters across the continent.
• Prevention will require costly manual land management, thinning brush, and resolving land ownership issues.
• Anchor briefly notes AXA CEO said it is all about prevention, hinting at insurance implications.