Climate risk should shape retirement plans, Krull says

Peter Krull, founder of Asheville-based Earth Equity Advisors, told attendees at Climate Week in New York that retirement planning must account for climate risks. He urged financial advisors and clients to consider both resilience and location when making investment and housing decisions.

Krull described Hurricane Helene, which struck Asheville in September 2024, as a personal example. He recalled standing on a bridge as three-story buildings were engulfed by rushing water. The storm knocked out utilities, transportation and communications, left residents without running water for two months and led to delayed insurance and government payments.

Those local impacts, Krull said, make climate risk concrete for people who previously relied on news reports. He argued retirement planning can no longer be treated as a set-it-and-forget-it exercise and cautioned that passive, index-based investments may underweight companies that build resilient infrastructure or provide climate solutions.

Krull outlined a six-theme investment framework that includes energy transition, infrastructure, water, transportation, resilience and innovation. He said the approach targets companies and projects that reduce environmental impact while strengthening communities against climate effects.

He pointed to market signals already changing behavior: insurers raising rates or cancelling policies, long waits for claims, and municipal limits on new construction where water supply cannot be guaranteed. Krull cited a national assessment that gives U.S. infrastructure middling marks and said large capital upgrades will be needed. He highlighted grid weakness, water scarcity and the electrification of transportation as investment priorities.

At Climate Week Krull presented a copy of his new book The Sustainable Investor to Bill Nye and continued to press for investment in practical solutions. He said directing capital to firms that deliver concrete climate tools will be necessary to scale adaptation and mitigation efforts.

Krull founded Earth Equity Advisors in 2004 after leaving a legacy financial firm and has worked in responsible investing for more than two decades. He described the industry’s shift from moral screening toward a combined focus on reducing impact, building resilience and financing technologies and infrastructure to help communities cope with extreme weather and long-term climate changes.

He advised advisors to have frank conversations with clients about the scientific consensus on warming, noting the world has reached roughly 1.5 degrees Celsius of warming and that sea levels, storms and fires are expected to intensify. Krull recommended clients plan intentionally both where they will live in retirement and how their savings are allocated to reduce exposure and capture returns from the transition to a more resilient economy.