There is little good news to report about climate change. The greenhouse gases that most scientists believe create global warming are still being produced in record numbers, explains Jim Powell, editor of Global Changes & Opportunities Report.
The chance of meaningfully reducing them significantly is almost nil. Meanwhile, weather patterns are becoming more extreme — with worse droughts, more frequent floods, hotter heat waves, and rising sea levels.
More from Jim Powell: All-Weather Trio: Walmart, Dollar General and Grocery Outlet
As a result, countless individuals and businesses throughout the world are starting to shift their focus from trying to prevent climate change to learning to live with it — and even profit from it.
Although the new climate strategy will doom millions — and perhaps billions — of people to a bleak future, it is also creating enormous investment opportunities for people who understand its potential.
Caterpillar (CAT) is at the top of my list of companies that will benefit from the global effort to combat the most immediate threat of climate change: rising sea levels. Most of the work to create seawalls, levies, elevated roadways and other adaptations to rising ocean levels will require the widespread use of heavy equipment.
Caterpillar produces the most comprehensive line of the necessary machines. The company has the added advantage of having a global network of dealers with financing options that make it possible for its customers to buy what they need.
Deere & Company (DE) is also in line to benefit from climate change – and for two reasons. Not only does the company produce popular earthmoving equipment, the company’s full line of tractors, harvesters, and other farm machinery should also benefit as climate change alters the way much of our agricultural industry operates.
In many regions of the US that are being subjected to less rainfall, new crops must be grown. Ditto for areas where heavy rains are becoming more common.
The opening of North America's vast northern regions to agriculture should also generate millions of dollars in sales over the next decade or two. Many of the changes will require new farming equipment.
More From MoneyShow.com: