Financial Times: Content 550bc3c4 855a 4f5a 8b1c c52219dec204

"The $138bn of assets owned by its subsidiary, Berkshire Hathaway Energy, are varied, but the appeal of the businesses — and their place within Berkshire — have gone unquestioned. Its utilities, accounting for the bulk of BHE’s assets, boast the economic moats against competition prized by Buffett and have long been an attractive home for the cash that the conglomerate generates. But if predictability was hardcoded into the sector’s DNA 25 years ago, global warming is bringing epochal change. The threats confronting Berkshire are multipronged: from billions of dollars in potential damages from wildfires, to criticism over how quickly it plans to retire its coal-fired power stations and the increasing politicisation of climate change in the US".