Four Twenty Seven’s monthly newsletter highlights recent developments in climate adaptation and resilience. This month, don’t miss funding opportunities for local adaptation and a closer look at resilient infrastructure!
In Focus: Infrastructure Resilience
Lenders’ Guide: Considering Climate Risk in Infrastructure Investments
Climate change poses multifaceted physical risks for infrastructure investors, including decreasing revenue due to operational capacity limits, increasing maintenance costs from physical damage, decreasing asset value, and increasing liability and debt. Four Twenty Seven, with our partners Acclimatise and Climate Finance Advisers, published today the “Lenders’ Guide for Considering Climate Risk in Infrastructure Investments.” This new report provides banking institutions and infrastructure investors with a brief introduction to the ways that physical climate risks can affect infrastructure investment. The guide includes ten illustrative “snapshots” describing climate change considerations in example sub-industries such as commercial real estate, power plants, and hospitals.
Local Adaptation Planning: Four Twenty Seven’s Process Guide
United States cities face increasing challenges from climate change impacts and increasing legislation requiring that they prepare for these impacts. Through our work assisting eight cities in Alameda County in responding to California’s Senate Bill No. 379 Land Use: General Plan: Safety Element (Jackson) (SB 379), Four Twenty Seven developed a streamlined process to support local governments’ efforts to integrate climate risks into key planning efforts, such as local hazard mitigation plans, general plans and climate action plans. SB 379 requires cities and counties in California to incorporate adaptation and resilience strategies into General Plan Safety Elements and Local Hazard Mitigation Plans starting in 2017.
“Planning and Investing for a Resilient California” – Guidance Document
As fires and floods rage up and down the coast and lives and livelihoods are lost and damaged, the call for resilience feels increasingly urgent each day. A resilient California is a state with strong infrastructure, communities and natural systems that can withstand increasingly volatile conditions. To support the implementation of Executive Order B-30-15, mandating that state agencies plan for climate change, the California Governor’s Office of Planning and Research released “Planning and Investing for a Resilient California,” a guidance document outlining strategies to include climate adaptation in decision-making. Four Twenty Seven CEO Emilie Mazzacurati served on the Technical Advisory Group that wrote the report.
The guide outlines four steps for integrating climate into decisions: characterizing climate risk, analyzing climate risk, making climate-informed decisions and monitoring progress. Ending with a closer look at investing in resilient infrastructure, the document provides actionable guidelines for building a resilient California.
“What we want people to realize is: If you’re exposed, we know that. We’re going to ask questions about what you’re doing to mitigate that exposure,” Lenny Jones, a managing director at Moody’s was quoted by Bloomberg. “That’s taken into your credit ratings.” Jones is explaining the thinking behind a recent Moody’s report that urged cities and states to act upon their climate risk or face potential credit downgrades. Moody’s is not the only credit agency in this conversation, as others including Standard & Poor’s are increasingly publicizing their inclusion of climate risk in credit ratings.These steps by rating agencies may provide the extra impetus that municipalities need to examine their climate risks and take action.
The California Ocean Protection Council (OPC) is accepting grant proposals for funding from Proposition 1. Priorities for this funding include projects that address sea level rise, benefit marine managed areas, support fishery infrastructure that protects ecosystems, and reduce the risk of communities to hazardous sites threatened by flooding. Find all relevant information on OPC’s Prop 1 website.
The Governor’s Office of Emergency Services (Cal OES) has initiated a Hazard Mitigation Grant Program for federally recognized tribes, local governments, nonprofits and state agencies to implement FEMA approved Local Hazard Mitigation Plans.Deadline: January 30, 2018.
Inside the Office at Four Twenty Seven
Meet Andrew Tom, Business Data Analyst
Four Twenty Seven is proud to announce the addition of Andrew Tom to our team. Andrew supports the business data extraction process used in analyzing climate risk for companies and financial markets.
Previously, Andrew led development of various data science projects and prototypes involving machine learning techniques, natural language processing and graph networks. He has also worked in the California State Legislature and in nonprofit leadership capacities.
Join the Four Twenty Seven team in the field at these upcoming events:
February 1-3:New Partners for Smart Growth, San Francisco, CA: Director of Advisory Services, Yoon Kim, will facilitate a session called “Moving Towards Implementation: Comprehensive Climate Action Solutions from the Building to the City Scale” on Feb. 2 from 1:30-3:30pm.
February 28 – March 2:Climate Leadership Conference, Denver, CO: Climate Adaptation Senior Analyst, Kendall Starkman, will attend this gathering of climate, sustainability and energy professionals.