Editorial companion

What stands out

A Reuters clip captures firefighter Marko Vidakusic standing in front of a raging Bosnian forest fire, saying "I'm afraid we won't succeed" as thick smoke billows. That line does the work statistics cannot: it compresses stretched crews, exhausted equipment and a civic system running up against a climate reality. For investors, the moment is a visceral reminder that climate shocks are operational crises with balance-sheet consequences, not just another environmental headline.