Friday Top of the Scroll: First water futures contract is coming with the West on fire
If the record heat and wildfires ravaging California weren’t a clear enough sign that the climate is changing, then consider this: Wall Street is about to start trading futures contracts on the state’s water supply. … They are intended to both allow California’s big water consumers—like almond farms and municipalities—to hedge against surging prices and can act as a benchmark that signals how acute water scarcity is becoming in the state and, more broadly, across the globe.