Weather Derivatives & CDFIs
We all know that global warming has spawned a big market for hedging against climate instability; now there's a market for brokering future weather to small players.
"Weather derivatives are financial instruments that can be used by organizations or individuals as part of a risk management strategy to reduce risk associated with adverse or unexpected weather conditions." (wiki) There are a couple sites pricing the future of weather that have created products that can be taken advantage of by small market players --- farmers, parks, utility companies, even travel sites (who want to provide vacationers with 'weather insurance'-- snow in the winter, sun in the summer....).
Check out WeatherBill and CME Weather Products, among others:
http://www.weatherbill.com/
http://www.cme.com/trading/prd/weather/index.html
Is there a relevance for CDFIs? Is there a carbon markets tie-in? An opportunity to provide insurance for fisheries clients or working waterfronts?
"Weather derivatives are financial instruments that can be used by organizations or individuals as part of a risk management strategy to reduce risk associated with adverse or unexpected weather conditions." (wiki) There are a couple sites pricing the future of weather that have created products that can be taken advantage of by small market players --- farmers, parks, utility companies, even travel sites (who want to provide vacationers with 'weather insurance'-- snow in the winter, sun in the summer....).
Check out WeatherBill and CME Weather Products, among others:
http://www.weatherbill.com/
http://www.cme.com/trading/prd/weather/index.html
Is there a relevance for CDFIs? Is there a carbon markets tie-in? An opportunity to provide insurance for fisheries clients or working waterfronts?
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