Over the past five years, climate disasters in the US resulted in damages averaging $18 billion a year, and experts expect more events like Hawaii’s recent wildfires and ­Hurricane Idalia to cause wide-scale damage in the next decade. Many investors focus on renewable-energy stocks as a beneficiary of global warming. But companies that help in the mitigation and recovery from dangerous weather events may see robust growth. Look for fast-growing small- and medium-sized industrial firms that…

Aid in forecasting, monitoring and evaluating potential and ongoing storms. Satellites provide information about the path and magnitude of catastrophic natural events so that municipalities can mobilize and residents can evacuate. A stock my fund owns now…

Rocket Lab (RKLB) provides launch vehicles that have put 170+ satellites in orbit including ones NASA uses to track storm data. Recent share price: $4.46.*

Prevent and mitigate flooding damage. About 90% of US natural disasters involve floods, according to the Federal Emergency Management Agency. A stock my fund owns now…

Great Lakes Dredge and Dock Corp. (GLDD) is the largest provider of dredging services in the US with a fleet of 200 specialized vessels. Recent share price: $8.11.

Fight wildfires. Last year, 69,000 wildfires burned more than 7.5 million acres in the US. A stock my fund owns now…

MSA Safety (MSA). The 110-year-old company manufactures firefighting and search-and-rescue equipment. Recent share price: $154.40.

*Share prices are from Morningstar, Inc., through October 16, 2023.

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