When natural disasters occur, governments are often considered as “insurers of last resort” and are expected to help with losses not covered by traditional insurance and to coordinate and fund reconstruction efforts.
While several major ballot measures targeting climate change failed during the midterm election, reality will catch up with spiraling costs, which have not been fully captured by the credit rating agencies, according to several market sources.
Many cities across the United States are home to legacy infrastructure systems. These older water, transportation, and communications systems are not only poorly suited to current needs, but they are also nearing (or well past) the end of their usable lives after decades of underinvestment and deferred maintenance.
Lloyd’s of London and the UK’s Center for Global Disaster Protection have identified financial instruments that could be used to incentivize investing in resilience.
Last fall, after a trio of deadly hurricanes, ratings companies warned vulnerable coastal cities to get ready for climate change -- or face higher borrowing costs on the $3.9 trillion municipal bond market.
Following the launch of a program in January designed to encourage procurement as an entry point for innovation, The Atlas piloted its interactive toolkit
A massive dike to hold back storm-driven floods surging in from the Gulf of Mexico was first proposed after Hurricane Ike devastated the Houston-area coast a decade ago.
Public-sector innovation is hard, even for big, high-capacity cities. Innovation is even tougher when the subject is something essential to the health and safety of a city, like water infrastructure.