Weathering Wildfires: 427 Interview

Director of Analytics, Nik Steinberg, discusses wildfire risk, impacts and prevention efforts, on the Midday Briefing. Nik explains implications of increasingly frequent and severe wildfires for the insurance industry and homeowners and shares several ideas for adapting to these risks. While fires have always occurred, climate change is changing the landscape of the wildland-urban interface and residents and policy-makers must understand their wildfire risks and implement preventative strategies. The economic implications are huge for utilities, shareholders and communities, but with intentional planning businesses, governments and residents have the opportunity to mitigate loss.

 

Public Health System Resilience Scorecard

Climate change will continue to adversely affect public health by threatening sanitation, altering the distribution of vector-borne disease, increasing the need for effective heat wave responses, introducing new mental health challenges and more. To help cities understand their vulnerability to these impacts and build resilience, the United Nations Office for Disaster Risk Reduction (UNISDR) developed a Public Health System Resilience Addendum for its Disaster Resilience Scorecard for cities.

The addendum includes 24 questions, defining a 0-5 scale for practitioners to quantify their responses (see example below). The questions cover the integration of public health with each of UNISDR’s Ten Essentials for Making Cities Resilient: disaster governance, disaster scenarios, finances, land use and building codes, ecosystem services, institutional capacity, societal capacity, infrastructure resilience, disaster response, and disaster recovery.

By capturing all of the possible weak spots in the broader health system, the addendum is meant to be a tool for mainstreaming public health considerations into disaster risk reduction plans, rather than just serving as a one-time assessment.  Using this integrated approach can help city officials build resilience over time. Recent events like the power outage that led to eight deaths in a Florida nursing home after Hurricane Irma demonstrate the preventable nature of many public health disasters. Ensuring that critical facilities have backup power supplies and that potential hazards are effectively communicated are ways in which effective planning can mitigate loss. By understanding existing vulnerabilities and how these will worsen with climate change, officials can implement essential adaptation measures that will save lives.

Four Twenty Seven contributed to this addendum and has developed a methodology to assess climate risk exposure in U.S. cities and counties. We are continuing research on quantifying local resilience to climate impacts and supporting public health responses to climate change. The forthcoming California Heat Assessment Tool will provide public health officials with an interactive platform to understand the projected increase in extreme heat events in each California census tract, based on the sensitivity of the local populations. It will also show the distribution of frontline individuals, such as the elderly, to inform effective local heat responses. This free, user-friendly tool will be live in mid-August.

Webinar: Building City-level Climate Resilience

This Four Twenty Seven webinar familiarizes participants with an approach for assessing city-level physical climate risks and provides insight into concrete actions that cities can take to more effectively attract investor financing for climate adaptation and resilience.

Speakers

  1.  Nik Steinberg (Director of Analytics, Four Twenty Seven) provides an overview of Four Twenty Seven’s approach to assessing city-level physical climate risks.
  2. Lisa Schroeer (Senior Director and Sector Leader, S&P Global) speaks about how the ratings agency is incorporating physical climate risks into its view of city and county  credit risk.
  3. Ksenia Koban (Vice President and Municipal Strategist, Payden & Rygel) offers insight into the factors that investors are looking at when determining whether to make city-level climate resilience investments and what cities can do more successfully to attract investor financing for climate adaptation and resilience.

Read Four Twenty Seven’s report on Assessing Exposure to Climate Change in U.S. Munies and learn more about our advisory services for risk assessments, adaptation finance and policy consulting.

Every City Has its Hazards: 427 Interview

Chief Development Officer, Frank Freitas, discusses Four Twenty Seven’s report on Assessing Exposure to Climate Risk in U.S. Municipalities on the Midday Briefing. During this brief interview Frank describes Four Twenty Seven’s work as a data provider for investors, highlights the ubiquity of climate hazards across United States munies and explains the impact of both acute events like hurricanes and more subtlety destructive chronic stresses such as drought.

Newsletter: US Munis Increasingly Vulnerable to Floods, Storms and Drought

 

 

Four Twenty Seven’s monthly newsletter highlights recent developments in climate adaptation and resilience. This month, don’t miss our new report on muni climate risk exposure, details on upcoming Four Twenty Seven webinars and an update on risk disclosure resources!

In Focus: U.S Munis Increasingly Vulnerable to Floods, Storms, and Drought

New report from Four Twenty Seven analyzes exposure to climate hazards in U.S. muni market


Our latest report Assessing Exposure to Climate Change in U.S. Munis identifies U.S. cities and counties most exposed to the impacts of climate change. As credit rating agencies start integrating physical climate risk into their municipal ratings, our new climate risk scores help inform investors with forward-looking, comparable data on the climate risks that impact these municipalities. Learn more about Four Twenty Seven climate risk scores for cities and counties and options to finance city resilience in our Webinar: Building City-level Climate Resilience, May 23.

Read the Report

Advancing TCFD Guidance on Physical Climate Risk and Opportunities

EBRD and GCECA Conference on May 31

Advancing TCFD Guidance on Physical Climate Risks and Opportunities is a targeted initiative to lay the foundations for a common conceptual framework and a standard set of metrics for physical climate risks and opportunities disclosures. Working with thought-leaders in the financial and corporate sectors, the European Bank for Reconstruction and Development (EBRD) and the Global Climate Center for Excellence on Climate Adaptation (GCECA), with the support from technical experts Four Twenty Seven and Acclimatise, developed a set of technical recommendations on metrics for risks and opportunities disclosures.

The final report will be released during a conference held at the EBRD’s headquarters in London on May 31st, 2018. Four Twenty Seven founder and CEO Emilie Mazzacurati will facilitate the panel discussion on the project’s key findings with Murray Birt from DWS, Simon Connell from Standard & Chartered, Craig Davies from EBRD, and Greg Lowe from AON.

TCFD Knowledge Hub

The recently launched TCFD Knowledge Hub is a curated platform of insights and resources on climate risk reporting. Users can search by keyword or sort for resources by the four TCFD themes. There is a broad set of research, tools and frameworks for implementing the TCFD recommendations, including our Lender’s Guide for Considering Climate Risk in Infrastructure Investments, our Technical Brief on Using Climate Data and a Climate Scenario Guide for Investors.

Helping Banks Build Climate Resilience

Acknowledging that financial impacts, regulatory pressures and industry action all point toward the need for climate-related risk disclosure and more comprehensive data, IDB Invest asserts that what may have formerly been ancillary ESG factors must now be central to business decisions. They report on four key messages from their annual Sustainability Week, in their article “Four insights for banks willing to seize sustainable finance opportunities.” 

The key takeaways are that risk analysis must include more than solely financial data, technology is a crucial ally in translating data into actionable insights, new ways to understand risk bring new market opportunities, and prioritization of ESG and climate analysis demand shifting human capital needs. Four Twenty Seven provided one of the featured new technologies, combining climate data with data on bank’s credit portfolios to assess climate-related risks and new market opportunities for banks in Ecuador. Read more.

Tomorrow! Four Twenty Seven Webinar:
Building City-level Climate Resilience

Wed, May 23, 2018 11:00AM – 12PM PT 

Four Twenty Seven is hosting a webinar to provide insight into concrete actions that cities can take to more effectively attract investor financing for climate adaptation and resilience, and share findings from our comprehensive analysis of city-level physical climate risks in the U.S. The webinar will be recorded and made available in the Insights section of our website. Register here.

Save the date – Four Twenty Seven Webinar:
Metrics for Physical Climate Risks Disclosure

Four Twenty Seven will host a webinar on TCFD reporting, emerging metrics and best practice for physical climate risks and opportunities disclosures. We will provide insights and lessons from the front line on:

  • How to use climate data to assess risks
  • Do’s and don’ts of scenario analysis
  • How to structure your TCFD/Art. 173 disclosures
  • Strategies for corporate engagement

Tues. June 12 at 8am PT; 11am ET; 4pm CET:

Register Here

Tues. Wed. 13 June at 9am HKT/SGT; 10am JST; 11am AEST (June 12 at 6pm PT):

Register Here

The Third California Adaptation Forum

The biennial California Adaptation Forum will take place in Sacramento from August 28-29. This multidisciplinary gathering of adaptation professionals and local stakeholders will include plenaries, workshops and sessions discussing trends in climate resilience, forward-looking adaptation policy, strategies for adaptation finance and new tools.

Upcoming Events

Join the Four Twenty Seven team in the field at these upcoming events:

  • May 23: Four Twenty Seven Webinar Building City-level Climate Resilience, 11am-12pm PT: This webinar will discuss city level physical climate risks and opportunities to access climate adaptation and resilience financing. Register here.
  • May 23: Capital Region Climate Readiness Collaborative Quarterly Meeting, Sacramento, CA: Advisory Services Manager, Kendall Starkman, will join this quarterly meeting focused on the drivers of poor air quality in the Capital Region.
  • May 31: Advancing TCFD Guidance on Physical Climate Risk and Opportunities, London, UK: Four Twenty Seven is a strategic partner for this event hosted by EBRD and GCECA to discuss emerging guidance on metrics for physical climate risk disclosures and scenario analysis and Emilie Mazzacurati will moderate a panel presenting findings on physical risk metrics.
  • June 5-6: Responsible Investors Europe, London, UK: Hear Emilie Mazzacurati speak on a panel on corporate engagement and also meet with Chief Development Officer, Frank Freitas, and Senior Risk Analyst, Léonie Chatain, to discuss ratings and engagement on physical climate risk in equities.
  • June 7-9: 7th Sustainable Finance Forum, Waddesdon, UK: COO Colin Shaw will speak on a panel called “Supply chain transparency and network analysis” at this forum hosted by the Sustainable Finance Programme at the University of Oxford.
  • June 12: Four Twenty Seven Webinar: Metrics for Physical Climate Risks Disclosure, 8am PT and 6pm PT: This webinar will cover TCFD reporting, emerging metrics and best practice for physical climate risks and opportunities disclosures.
  • June 12-14: VERGE Hawaii, Honolulu, HI: Kendall Starkman, will speak about Four Twenty Seven’s heat assessment work at this convening of corporate, government and NGO stakeholders committed to building resilient cities and economies.
  • June 18-21: Adaptation Futures 2018, Cape Town, South Africa: Director of Advisory Services, Yoon Kim, will facilitate a session exploring integrating climate risks into infrastructure investment decisions.
  • June 26: GRESB’s Sustainable Real Assets Conference, Sydney, Australia: Meet with  Frank Freitas at GRESB’s annual conference on resilient infrastructure investments.
  • August 28-29: 3rd California Adaptation Forum, Sacramento, CA: Save the date for this opportunity to join over 600 climate leaders in workshops, sessions and networking around adaptation action in California.
  • September 12-14: PRI in Person, San Francisco, CA: Join the Four Twenty Seven team at this annual convening of responsible investment industry leaders.
  • September 12-14: Global Climate Action Summit, San Francisco, CA: Join the Four Twenty Seven team at this convening of global climate adaptation experts meant to propel action around the Paris Agreement.

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Four Twenty Seven sends a newsletter focused on bringing climate intelligence into economic and financial decision-making for Fortune 500 companies, investors, and government institutions.Our mailing address is:
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Newsletter: Are we doing enough? The state of climate adaptation in the US

 

 

Four Twenty Seven’s monthly newsletter highlights recent developments in climate adaptation and resilience. This month, don’t miss a review of U.S. climate adaptation and a close look at opportunities to build resilience through collaboration.

In Focus: The State of Climate Adaptation


Are we doing enough? How is the field of adaptation developing in the United States? Rising to the Challenge, Together: A Review and Critical Assessment of the State of the US Climate Adaptation Field explores the field’s development, potential and challenges. Commissioned by the Kresge Foundation, the report was co-authored by Susanne C. Moser of Susanne Moser Research and Consulting, Joyce Coffee of Climate Resilience Consulting, and Aleka Seville in her capacity as Four Twenty Seven’s Director of Community Adaptation in 2017.

Based on a literature review and dozens of interviews with thought leaders and adaptation practitioners, this report finds that the emerging field of climate adaptation must continue to develop with increased urgency. Communities across the country are experimenting with adaptation, with the support of a growing knowledge base and suite of tools, and boosted by new actors including utility managers, private sector interests and philanthropy.

However, the field is largely crisis-driven and fails to adequately address the social equity aspects of adaptation choices, that should ensure all people benefit regardless of socio-economic status or race.  It also lacks a shared vision, consistent funding and agreed upon best practices among other shortcomings, the report found. The report recommends aggressive acceleration of adaptation planning, coordination across jurisdictions, and implementation among advocates, planners, and funders. Read more.

Read the Report

The United States of Climate Change


With examples from every state in the U.S. this United States of Climate Change” feature from The Weather Channel displays the vast, dire and varied implications of climate change. It also documents communities’ efforts to adapt to a rapidly changing world. From new species of pathogen-hosting mosquitoes flourishing in Mississippi to “flash droughts” threatening barley in small Montana towns that depend on selling the crop to beer brewers, there is a plethora of local stories highlighting cultural, social and economic impacts of climate change. The Washington Post reports on the thinking behind Weather.com’s framing of this feature.

For more examples of climate change’s local impacts, read about Four Twenty Seven’s work examining the impacts of climate change on Delaware’s workforce and our analysis of extreme heat and public health in Denver.

Working with businesses to build community resilience

As increasing numbers of climate disasters cause over $1 billion in damages, the economic impacts of these events are widespread and ongoing. California wine-growers will feel the financial effects for years as they work to rebuild their vineyards, while the communities that depend on this economy will also feel these consequences. Four Twenty Seven’s blog post “Working with Businesses to Build Community Resilience” outlines opportunities for local governments and businesses to support each other in adaptation efforts.

Businesses and communities depend on each other and have important roles to play in collaborative climate change preparation. While businesses rely on resilient infrastructure and city services, they can also support community recovery efforts and participate in planning. Likewise, local governments can create collaborative networks, share resources and engage businesses. Read more.

Read the Blog

Resources on Engaging Businesses in Adaptation

For more insight on corporate adaptation read the Caring for Climate report, The Business Case for Corporate Adaptation, which highlights the benefits for businesses to build their awareness of climate risk and opportunities for policymakers to encourage corporate adaptation.

Will Amazon HQ2 consider resilience?

Eager for an opportunity for up to 50,000 jobs and a potential $5 billion in investment, twenty cities received the anticipated advancement to the list of finalists for Amazon’s HQ2 last month. Among this short list is the Southeast Florida bid, a collaboration between Broward, Miami-Dade and Palm Beach Counties.

These counties have experience working together through the Southeast Florida Regional Climate Change Compact, which also includes Monroe County. The compact’s Regional Climate Action Plan emphasizes the importance of regional strategies to build resilient economies and communities. Now the benefits of this collaboration are becoming increasingly clear, as many of the regional compact’s priorities, such as addressing sea level rise and improving infrastructure, are also important for bolstering economic success by helping to attract Amazon and other businesses to the region.

Inside the Office at Four Twenty Seven

Meet the Team: Lindsay Ross

Four Twenty Seven is delighted to welcome Lindsay Ross, who joins the team as a Senior Analyst, Macroeconomic Risks. Lindsay analyzes the economic impacts of climate change on corporations and financial markets. She studies at the Johns Hopkins School of Advanced International Studies (SAIS), focusing on Energy, Resources, and the Environment as well as International Finance and Economics. Previously she worked for the U.S. International Trade Commission, assisting with research on the impacts of international trade on the U.S. economy.

Upcoming Events

Join the Four Twenty Seven team in the field at these upcoming events:

  • February 13: Climate Risk: From Assessment to Action, Washington, DC: CEO, Emilie Mazzacurati, will speak on a panel at this workshop hosted by the Inter-American Development Bank
  • 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.
  • March 6: Inaugural Conference: Northern European Partnership for Sustainable Finance (NEPSF), London, UK. Emilie Mazzacurati will join the launch of this new Partnership to support sustainable finance.
  • June 18-21: Adaptation Futures 2018, Cape Town, South Africa: Director of Advisory Services, Yoon Kim, will facilitate a session at this conference, exploring integrating climate risks into infrastructure investment decisions.
  • August 28-29: 3rd California Adaptation Forum, Sacramento, CA: Save the date for this opportunity to join over 600 climate leaders in workshops, sessions and networking around adaptation action in California.

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Four Twenty Seven sends a newsletter focused on bringing climate intelligence into economic and financial decision-making for Fortune 500 companies, investors, and government institutions.Our mailing address is:
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Report: A Review of Climate Adaptation in the US

Events once considered “hundred year” disasters increasingly occur several times in individual lifetimes. In the face of urgent crisis, community leaders, businesses, nonprofits and individuals have seen a need to build resilience, to preserve human lives and the economies upon which they depend. Recognizing the emergence of a field of climate adaptation and seeking details on the field’s development, potential and challenges, the Kresge Foundation commissioned an assessment of the field of adaptation. This project culminated in a report, Rising to the Challenge, Together: A Review and Critical Assessment of the State of the US Climate Adaptation Field, by  Susanne C. Moser of Susanne Moser Research and Consulting, Joyce Coffee of Climate Resilience Solutions, and Aleka Seville, Four Twenty Seven’s Director of Community Adaptation at the time. Read the full press release below:

Download the Full ReportDownload the Executive Summary • Download the Appendices

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The emerging field of climate adaptation is growing in sophistication and influence, but there is a significant gap between the magnitude of the challenge and existing efforts to protect people and property from climate volatility, according to a report released today.

“Rising to the Challenge, Together” provides a critical assessment of the state of the climate adaptation field in the U.S. It was commissioned by The Kresge Foundation and authored by a trio of adaptation experts: Susanne C. Moser of Susanne Moser Research and Consulting; Joyce Coffee of Climate Resilience Consulting; and Aleka Seville of Four Twenty Seven, Inc.

The report finds that the challenge of climate adaptation and resilience is an everyday reality for decision makers across the United States. Climate change is widely recognized as a critical – possibly existential – threat to humans, other species, and the natural systems on which all life depends. As climate impacts accelerate and population grows in vulnerable areas, disasters are more frequent and more devastating.  Supercharged storms, catastrophic wildfires, and deadly heatwaves affect growing numbers of Americans – particularly those with low incomes who are least able to avoid or minimize the impact of severe events.

Communities across the country are experimenting with adaptation, defined as the management of and preparation for the impacts of global climate change and related extremes. They are aided by a growing knowledge base and suite of tools, and boosted by new actors including utility managers, private sector interests and philanthropy.

However, the field is largely crisis-driven and fails to adequately address the social equity aspects of adaptation choices, that should ensure all people benefit regardless of socio-economic status or race.  It also lacks a shared vision, consistent funding and agreed upon best practices among other shortcomings, the report found.

“Our research revealed a growing core of professionals, committed municipal leaders, engaged community residents and others who are proactively identifying ways to make their cities and regions more resilient,” said author Susanne C. Moser. “But without much-accelerated efforts to expand and professionalize the adaptation field we fear communities, businesses and particularly the most vulnerable are at growing risk. To ensure their safety, well-being and prosperity, we must rapidly come together to slow the release of planet-warming greenhouse gases; invest in smarter, more resilient systems, infrastructure and planning practices; and do both while building social cohesion and equity.”

The report’s findings and recommendations were the basis of a next-steps conversation among several dozen climate-resilience experts and thought leaders at a January 22 workshop in Washington, D.C. At that meeting participants discussed ways to better disseminate promising resilience practices, embed climate resilience in planning and policymaking, and generate new financing mechanisms for the work.

The report recommends aggressive acceleration of adaptation planning, coordination across jurisdictions, and implementation among advocates, planners, and funders. Leaders must press the urgency of addressing climate change both through adaptation and mitigation – pushing the field to think bigger, bolder and deeper. At the same time, funding support must grow and policy incentives should be aligned to support the incorporation of resilience across different practices and sectors.

“This report highlights the urgency of building climate adaptation as a field of practice,” said Lois DeBacker, managing director of The Kresge Foundation’s Environment Program. “It is critical to expand the number of people who understand the imperative of acting quickly, which actions yield the best and most effective protections against climate change-fueled events, and how to approach climate resilience in ways that advance equity.”

————————————

Working with Businesses to Build Community Resilience

The year 2017 will stay on the record as one of the most expensive years to date for climate and weather disaster events. The U.S. experienced 16 weather and climate disasters that caused over $1 billion in damages, tying the record year of 2011 for the most billion-dollar disasters. From summer through the fall, wildfires in various parts of California led to fatalities, destruction of entire communities, and damage costs of $18 billion, with economic consequences that will continue to impact the region. These events have highlighted that climate change has already begun to and will continue to impact local communities and businesses, and that local economies will benefit from more coordinated resilience planning.

Communities across the U.S. are taking steps to identify their climate change risks and enhance their resilience to changing climate conditions. Many local governments have assessed their vulnerabilities and are developing resilience plans with support from local stakeholders. However, a key set of stakeholders are often not at the table: businesses. Collaboration between local governments and the business community on climate change resilience remains limited. As local and regional climate change planning continues, it becomes increasingly important for local governments to engage with businesses, both large and small, on these issues.

The success of businesses and communities is intertwined

Many larger companies recognize the impacts of climate change on their operations, including risks to physical assets, disruptions to supply chains, and impacts on their workforce. In fact, some businesses, like Google, are examining how to develop company resilience strategies that address changing climate conditions. Businesses are also dependent on public infrastructure and local government services, and climate risks on these “outside the fence” components are much harder for businesses to evaluate. In fact, a number of companies have highlighted these uncertainties as a major barrier in addressing adaptation.

Local governments are dependent on the private sector in many ways. Businesses are essential to the economic health and growth of communities. Business interruptions can affect the quality of life for residents, disrupt the local economy, and reduce tax revenues. The costs of Hurricane Harvey are still being evaluated, but preliminary estimates suggest that lost economic output from this storm was in the range of $9 billion to $11 billion, including $540 million for goods-producing industries and $141 million for oil and gas industries. The October 2017 wildfires in California’s wine country are estimated to have caused economic losses between $6 and $8 billion dollars due to property damage and business interruptions alone, with $789 million in commercial property claims. These costs do not include the potential losses to the wine industry for many years to come.

Local governments have a strong interest in ensuring that businesses are resilient and remain operational as the climate continues to change. Companies will also benefit from engaging with the public sector on community resilience to enhance their business continuity plans and support their employees. In addition to better protecting their employees and operations, this type of collaboration will help businesses better understand community needs.

Businesses can assist local governments with expertise and solutions

Larger businesses often already understand local risks because of internal risk management processes. Risk management and emergency management plans, along with drills and training exercises with employees, help businesses prepare for extreme events. Local governments can coordinate with businesses on risk management, including participating in drills and trainings, to build and maintain community resilience.

Local governments can also use larger companies’ expertise and data on risk. Businesses may be monitoring information that could be relevant to local resilience planning. For example, utilities often track potential risks to their assets, such as those related to storms (e.g., wind, precipitation, flooding), wildfire, and temperature impacts on energy demand. This information can be helpful to local decision-makers in both emergency management and long-term resilience planning.

The private sector also offers opportunities in services and solutions. Businesses are often interested in developing and improving technologies, engineering approaches, technical assistance, and opportunities to connect with their communities. For example, Airbnb offered disaster relief to people impacted by the California wildfires, connecting displaced residents to available housing. The company also worked with the City of San Francisco’s Department of Emergency Management to share their lessons learned from Superstorm Sandy. Airbnb is also partnering with various local governments to help communities prepare for and recover from disasters. Local governments’ suggestions for climate change solutions and services can help businesses tailor their products to best serve the community.

In addition, financing for implementing community resilience can often be a challenge for local governments. The private sector can offer financing solutions to help fund climate change resilience. For example, Pacific Gas and Electric Company (PG&E) is investing $1 million over five years through their Better Together Resilient Communities grant program to support local climate resilience initiatives in California.

Local governments can share data and information with businesses

Some local governments have undertaken vulnerability assessments and climate change scenario planning for their regions. The data and results from these studies can be shared with businesses to help them understand what assumptions are being used by local governments, and whether their scenarios align, which will be increasingly important to ensure regional coordination as conditions change.

While larger companies may undertake scenario planning and vulnerability assessments, most small businesses do not. However, small businesses can also benefit from data and information sharing. Small companies do not often have the expertise or resources to adequately assess climate change risks and undertake resilience planning. Local governments can share information with small businesses to help them better understand their potential risks and prepare for extreme events. In California, Valley Vision has developed the Capital Region Business Resiliency Initiative to help engage the small business community in resilience planning. This effort helps small businesses engage with local stakeholders to understand potential risks and provides resources to help these businesses plan for disaster resilience.

Local governments can engage with businesses through existing networks or by creating new processes to assist with engagement

Local governments can engage with both small and large businesses through networks and organizations for the private sector, like local chambers of commerce, trade associations, and other business networking groups. For example, the City of Annapolis has engaged the Anne Arundel County Chamber of Commerce and the Downtown Annapolis Partnership in its Weather It Together initiative, which is focused on adapting the historic community to minimize the risks associated with flooding. Through this effort, local businesses are part of the planning process to help the community become more resilient. The City of Cambridge, Massachusetts has also engaged businesses in long-term planning efforts like the Cambridge Compact and the city’s Climate Change Preparedness & Resilience Plan. Establishing public-private partnerships focused on climate resilience will also help to facilitate conversations and collaboration between these two sectors.

Local governments may already engage with businesses individually, but it can be helpful to set up an ongoing process for involving the private sector in resilience planning. For example, business representatives can participate in local planning and advisory committees, contributing their perspectives and identifying any key issues for the business community. Effectively engaging the business community will often require targeted outreach and potentially different strategies, as businesses may not be aware of ongoing stakeholder processes or may not realize their relevance to company needs. Some communities have incorporated businesses into resilience planning through regional climate collaboratives. Several regional climate collaboratives in California focus on engaging different stakeholder groups, including businesses, to further climate change planning. For example, the Sierra Climate Adaptation and Mitigation Partnership was founded by the Sierra Business Council and has various business members, including ski resorts and forestry companies.

Effectively preparing for climate change’s impacts requires that cities coordinate with many different stakeholders. Businesses, public agencies, community groups, and citizens are all important to the discussion on community resilience, as they will all be impacted by climate change and have important ideas to contribute. Engaging the private sector is an important way for local governments to improve community resilience, and will benefit both the public and private sector through information sharing, aligning needs and goals, and developing multi-sector networks.

Newsletter: New Report on Climate Risk in Infrastructure Investments

 

 

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.

Read Lender’s Guide

Built to Last

The Union of Concerned Scientists’ white paper, Built to Last: Challenges and Opportunities for Climate-Smart Infrastructure in California, responds to Executive Order B-30-15, which mandates that state agencies plan for climate change. The paper makes suggestions for policies that support resilient infrastructure with co-benefits for human and ecosystem health and mitigation. Recommendations cover tools and standards, financial assessments and institutional capacity building.

Read the White Paper

How to Incorporate Climate in Local Planning

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.

Four Twenty Seven’s Process Guide for Local Adaptation Planning outlines two steps for effective climate adaptation planning: 1) a hazard assessment to determine vulnerability and 2) identification of appropriate adaptation options.

Read the Process Guide

“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.

Read the Guidance Document

Climate Change Threatens City Credit Ratings

“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.

Four Twenty Seven conducts research on urban resilience to climate risks and offers real asset screening and portfolio analytics to help investors identify and respond to risks in their portfolios.

Funding Opportunities and Finance Guide

Resilient by Design Finance Guide

The recently published Finance Guide for Resilient by Design Bay Area Challenge Design Teams, for challenge participants, outlines traditional funding resources for infrastructure in California and describes other potential funding opportunities that have not traditionally been used for this purpose. It also highlights requirements particular to this state.

Funding Opportunities

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.

Upcoming Events

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Local Adaptation Planning – Process Guide

United States cities already face challenges from climate change due to impacts on communities, infrastructure and other assets and resources. Local jurisdictions that repair infrastructure, make land use decisions, and engage communities in a way that accounts for ongoing and future change can help make their cities more resilient. A growing number of local jurisdictions are adopting plans and engaging in voluntary commitments to mitigate and adapt to climate change. A wide range of available resources makes this possible, and climate legislation increasingly requires it, but both can also make implementing a cohesive, streamlined adaptation strategy difficult. This Process Guide outlines an effective adaptation planning process for local governments.

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 has developed a streamlined process to support local governments in their 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. Our process for effective climate adaptation planning includes 1) a hazard assessment to determine vulnerability and 2) identification of appropriate adaptation options.

By starting with a climate hazard assessment, cities can identify the specific hazards that pose the greatest threats to their assets. After applicable climate hazards are identified, it is important to develop adaptation plans that build on and can be integrated into existing city policies. This Guide outlines our process for assisting cities with adaptation planning, and identifies useful resources, tools and process elements to inform integrated climate hazard assessment and adaptation planning.

Download the full Process Guide.

Read a Case Study on Integrating Climate Risks into Local Planning in Alameda County and learn about our advisory services in adaptation planning, policy consulting and vulnerability assessments.