Home » Resource Database Case Study PG&E Liabilities for California Wildfires Led to Bankruptcy Authoring Organisation BloombergNEF Publish Date 2024 Geography United States of America Download Case Study (PG&E Liabilities for California Wildfires Led to Bankruptcy)(This link will take you to an external website) About this Case StudyThe case study discusses PG&E’s legal and financial risks associated with wildfires caused by poorly maintained energy infrastructure. It also examines the broader implications of nature-related risks for utility companies in the western USA. Key outcomesPG&E incurred over USD 5 billion in settlements and filed for bankruptcy after being found liable for a series of California wildfires from 2015-2018. PG&E’s share price declined by 91% in the 15 months following a fire incident in the Napa Valley in 2017. The electric utilities sector is highly dependent on nature. The sector needs to adapt their risk management strategies to account for increasing nature-related risks.Download Case Study (PG&E Liabilities for California Wildfires Led to Bankruptcy)(This link will take you to an external website) Related resources ‘It’s Now for Nature’ – Sector-based nature strategies Business for Nature | May 2024 Business for Nature publish the first set of Nature Strategies as part of it’s ‘Now for Nature’ campaign. “Although momentum on nature is growing with global initiatives such as the TNFD and SBTN picking up pace across... Deforestation Allegations Trigger Share Selloff of Swedish Oils and Fats Firm AAK BloombergNEF | 2024Location: Indonesia, SwedenCase Study The case study examines the market and reputational risks associated with unsustainable sourcing practices in the palm oil industry. It describes the experience of AAK, which faced a 5.5% fall in its share price within 24 hours of allegations about sourcing from protected areas in Indonesia. Formosa Penalized Over Plastic Pellets, But Real Risk Is in Shift to New Materials BloombergNEF | 2024Location: United States of AmericaCase Study A case study of the legal and reputational risks faced by Formosa Plastics as a result of the excessive discharge of plastic pellets into waterways. The case study explores the financial implications for the company and the growing concern about plastic pollution. Freeport’s Share Price and Divestment Deal Spoiled by Tighter Tailings Rules BloombergNEF | 2024Location: Indonesia, United States of AmericaCase Study The case study on mining company Freeport-McMoRan examines the transition risks of tighter tailings disposal regulations in Indonesia and the market reaction to the company's response. Tailings disposal in waterways near Freeport’s mine had caused water pollution and forest degradation. Nature-related financial risks in our own account investments: An exploratory case study and deep dive in electric utilities De Nederlandsche Bank | February 2024Location: Netherlands (the)LEAP Use Case An exploratory assessment of nature-related financial risks in De Nederlandsche Bank (DNB) account investments and a sectoral deep dive into electric utilities using coordinates of company assets. In the process, DNB has piloted the LEAP approach of the TNFD. Related publications Additional sector guidance – Electric utilities and power generators Related webinars Insights on TNFD Sector Guidance March 8, 2024 (Updated: January 28, 2025) This Forum member webinar explored the draft sector guidance for 9 sectors published at COP28 in December 2023. This session provides an overview of all sector guidance, followed by two short deep dives on Metals & Mining...