Business Green: Rising sea levels and the increased frequency of wild fires and extreme weather events could cost the Californian economy billions of dollars a year and put $2.5tr (£1.7tr) of real estate assets at risk, according to a major new report from the University of California, Berkeley (UCB). The study looked at three separate global warming scenarios and found that the insurance and real estate sectors alone could face annual bills of between $300m and $3.9bn a year as they attempt to cope …