Even shorters need to make their gains from someone else. You are assuming that there are many people betting that climate change will not happen ? I think it’s safe to assume that climate change has been priced into the market.
I often wonder how much climate change is priced in. If climate change is a given, wouldn’t we see it reflected e.g. in the implied vols of super long-dated options or real estate in Miami? VCs would be placing bets like crazy on solutions. Markets just don’t seem to be assimilating this info to me. Wonder if there have been any formal studies on this.
I'm sorry I must have misread the article we are all commenting on, I thought "investing prophet Jeremy Grantham" wast investing the majority of his wealth in trying to stop climate change, maybe I'll read the article again. From your comment I'm way off, or maybe you didn't read it?