Company: BRK-A
Filing Date: 2025-03-25
Form Type: PX14A6G
Source: 0001214659-25-004756
Chunk: 2

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-03-25
Form: PX14A6G
Chunk 2
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economic crisis. When homeowners lose access to affordable insurance—a key requirement for many mortgage lenders—buyers struggle
to secure mortgages. This and declining property values, which in turn impacts banks and reduces municipal tax revenues. Unlike previous
financial crises and recessions, including the 2008 mortgage crisis, climate-driven financial risks are expected to escalate until action
is taken to reduce greenhouse gas emissions.

In this growing insurance crisis, Berkshire continues to invest in
and underwrite high-carbon business sectors, exacerbating extreme weather and systemic climate risk. Berkshire holds nearly $96 billion
in fossil fuel-related equities. In its 2017 reporting to California, Berkshire indicated that fully 38% of its life insurance
investments were in fossil fuel assets. Unlike most large insurance companies, Berkshire continues to underwrite new coal
projects; its utility subsidiary, Berkshire Hathaway Energy, owns at least eleven coal power plants and has partial stakes in thirteen
others.

Berkshire’s involvement in fossil fuel activities, through its
lending, underwriting, and investment practices, amplifies climate risk. As emissions from high carbon companies drive a warming climate
and extreme weather events, the Company is exposed to greater climate-related hazards. In the short term, Berkshire is managing these
risks and maintaining profitability by raising premiums and limiting coverage. However, as climate-related damage continues to escalate,
Berkshire will face the challenge of maintaining its profitability within a volatile market of fewer customers in fewer insurable markets.

Mitigation of Climate-Related Financial Risks

In shareholder proposals filed over the past three years, investors
have asked Berkshire to address how it intends to measure, disclose, and reduce the greenhouse gas emissions associated with its underwriting,
insuring, and investment activities, in alignment with the Paris Agreement. Despite 21-26% of investors over those three years (40-47%
of independent investors) supporting this request, Berkshire has failed to take the requested action. Between 2022 to 2025, Berkshire
has also denied all but one investor request for a meeting. Given this lack of responsiveness toward quantifying and reducing its contribution
to climate change, investors this year have asked Berkshire to instead simply disclose its ratio of low carbon
to fossil fuel energy financing.

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https://www.berkshirehathaway.com/2023ar/2023ar.pdf, p.K-38,
K-39, K-40

https://uphelp.org/over-50000-to-lose-homeowners