Is it possible to money off of climate change?
Everyone seems to think going green will earn them some green, but how can you cash in? Unfortunately, your options are limited. Instead of me putting a disclaimer on every section, here it is: Do your own research and I may or may not think any of these are a good idea or will be profitable.
Play the market
Go long on green companies, short on not so green companies. Unfortunately for you, there are very few pure play green companies. Most renewable energy companies are part of larger energy companies, BP, Shell, GE, etc. WSJ Energy Round up has a couple of solar stock recommendations , Green Wombat likes SunPower, and Jim Jubak had 10 stocks for Earth Day recently.
Alternative you could go short on companies likely to be harmed by global warming or go long on companies likely to be helped. Ski resort operators aren't going to be doing too well in balmy winters. Although you could buy higher altitude ski resorts and hope they really pack in the crowds, at least for a while. WSJ Energy Round up has a few ideas (more here) for a global warming portfolio.
Buy futures in commodities likely to be by global warming. You believe that maple syrup production will decline up as it gets warmer? Buy futures now and sell them when it happens.
Learn a trade
Air conditioning repairmen are probably going to be in higher demand in the coming years, as well as solar installation and making energy efficiency improvements.
Real estate
Selling real estate may pick up as global warming gets underway, people will move to more comfortable climates and also as fuel prices go up they will likely move downtown.
Move downtown before the rush. The prediction is people will move closer to their jobs and mass transit.
Move away from low lying coastal areas before the rush. Some obviously we'll build levees for, but is it a sure bet everywhere? I doubt it. This NY Times article has some discussion on the subject.
Buy northern land and hope warmer temperatures improve it. Your North Dakota land might be able to grow more profitable crops in a few years. This would obviously require lots of study and local knowledge about farming.
Sell insurance
Increased natural disasters mean more people will want insurance, you'll have to pay out more, but well run insurance companies profit no matter what.
Start your own business
Find a green niche and exploit it. This might be the best option if you have the means. The options are limitless and you can go in as much as you're comfortable with. If you think there will be water shortages? Invent or sell something that saves water. However, its not going to be easy, one area not paying off well right is websites, even the best green websites don't have massive amounts of traffic.
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