Webinar: Emerging Metrics for Physical Climate Risks Disclosures

This Four Twenty Seven webinar on emerging metrics and best practices for physical climate risks and opportunities disclosures covers recent developments in TCFD and Article 173 reporting, challenges to assessing climate risk exposure, strategies for investors to incorporate this information into decision-making and approaches to build corporate resilience.

Speakers

  1. Emilie Mazzacurati, Founder and CEO, presents key findings from the EBRD-GCECA report: Advancing TCFD guidance on physical climate risks and opportunities and emerging best practices in physical risk reporting.
  2. Nik Steinberg, Director of Analytics, shares challenges and approaches for using climate data for business decisions.
  3. Frank Freitas, Chief Development Officer, discusses corporate engagement opportunities for investors and approaches to integrating climate change into investment strategies.
  4. Yoon Kim, Director of Advisory Services, shares examples of innovation in corporate resilience-building.

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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Assessing Exposure to Climate Risk in U.S. Municipalities

May 22, 2018 – 427 REPORT. Cities and counties are bearing the costs of the sixteen billion-dollar disasters in the United States in 2017, raising concerns over the resilience of municipalities to the impacts of climate change and associated financial shocks. Credit rating agencies are increasingly integrating physical climate risk into their municipal rating criteria; however, they lack concrete metrics that compare and assess which municipalities are exposed to climate impacts. Four Twenty Seven’s new local climate risk scores provide comparable, forward-looking data to fill this gap. This report discusses our approach to measuring exposure to climate hazards and highlights cities and counties most exposed to the impacts of climate change.

Following Hurricane Harvey, Moody’s downgraded Port Arthur from A1 to A2 due to its “weak liquidity position that is exposed to additional financial obligations from the recent hurricane damage, that are above and beyond the city’s regular scope of operations.” (Moody’s). This follows the recent trend of rating agencies increasingly considering climate change and past extreme weather events in their evaluations of U.S. cities. While this consideration is an important step, their evaluations could be better informed by incorporating forward-looking comparable data on the climate risks that impact these municipalities.

Featuring Four Twenty Seven’s new local level exposure scores, our report Assessing Exposure to Climate Change in U.S. Munis, shares key findings from our scoring of all 3,142 U.S. counties and the 761 cities over 50,000 in population. The research results are based on Four Twenty Seven’s market-leading expertise in five major climate categories, including cyclones/hurricanes, sea level rise, extreme rainfall, heat stress, and water stress. “This new dataset provides a comprehensive suite of risk scores to better inform rating and pricing decisions,” says Emilie Mazzacurati, Founder & CEO. “We believe that our analytics will be very helpful for all market participants, including muni bond investors, local governments, and ratings agencies.”

This report highlights specific cities and counties most exposed to each climate hazard and also discusses regional trends and economic sensitivities that may exacerbate a muni’s vulnerability.  “Climate risk is increasingly a part of our credit analysis for municipal issuers across the country,” said Andrew Teras, senior analyst at Breckinridge Capital Advisors. “The climate risk scores developed by Four Twenty Seven provide a comparable way to evaluate climate exposure and will give us another factor for assessing our investment universe.”

Key Findings

  • Sea Level Rise: The mid-Atlantic, particularly New Jersey, Virginia, North Carolina and Florida, has the highest exposure to coastal flooding in the United States, with the Bay Area and Pacific Northwest also highly exposed in several of their coastal cities and counties.
  • Cyclones/Hurricanes: The majority of cyclone risk in the United States is concentrated in the Southeast, given its geographic proximity to the Gulf of Mexico and the tropical Atlantic Ocean. The coastal Mid-Atlantic and Northeast are also exposed to cyclones, but they tend to be less frequent than in the Southeast and somewhat weaker on average after interacting with land or cooler ocean waters.
  • Extreme Rainfall: The Midwest is particularly exposed to heightened flood risk due to changing rainfall patterns. Recent advancements in attribution science show extreme rainfall to be the main driver of recent floods rather than 20th century agricultural practices, as was largely believed to be the case until recently.
  • Heat Stress: The highest heat stress scores tend to be centered in the Southeast and Midwest, concentrated in Missouri and western Illinois and fanning out to the Great Plains, Mississippi River Basin, and Florida.
  • Water Stress: Key watersheds for agricultural production such as the Central Valley aquifer system in California and the Ogallala Aquifer in the Great Plains are highly exposed to water stress. The agriculturally-dominated areas of Bakersfield, Delano, and Visalia, CA along the Central Valley Aquifer are among the ten cities most exposed to water stress. Similarly, municipalities along the Ogallala Aquifer in the Great Plains also rely heavily on agriculture and are among the most exposed to water stress.

Download the report.

Download the press release.

Newsletter: Fintech Meets Climate Data

 

 

Four Twenty Seven’s monthly newsletter highlights recent developments in climate adaptation and resilience. This month, don’t miss a discussion with our new Chief Development Officer, our report on using climate data and cool new innovations in climate science!

In Focus: Fintech Meets Climate Data

Meet Chief Development Officer, Frank Freitas

We chatted with our new Chief Development Officer, Frank Freitas, about his motivations to join Four Twenty Seven after almost 30 years in finance and fintech, and his vision for new products and markets in climate analytics. Having spent his career developing award-winning solutions for global institutional investors, Frank is a seasoned veteran of product management and strategic planning.

He founded and sold Pluribus Labs, a research and analytics firm focused on the translation of unstructured data into investable signals. Before that, he served as Chief Operating Officer and Head of Product Strategy at Instinet, a leading technology-levered agency broker. He started his career in Product Management, designing and leading the delivery of quantitative risk solutions at Barra (now MSCI). “The acceleration of climate’s influence on corporate performance is upon us, and investors are rapidly awakening to the risks that climate change brings to financial markets,” Frank says. “Four Twenty Seven’s sophisticated climate data analytics are at the forefront of identifying most exposed corporations and assets globally, and we will continue to build on our expertise to provide best-in-class analytics of climate risk for our clients globally.”

 

Inside Market Data covers Frank’s transition to Four Twenty Seven and highlights the company’s goals for this year, including a focus on incorporating new types of data to add nuance to our risk analyses.

Read the Interview

Using Climate Data for Investment Decisions

Using Climate Data: A Four Twenty Seven Report


In this new Four Twenty Seven report, we demystify climate data with a clear breakdown of what it is, where it comes from and the nuances to consider when choosing which data products to use. Understanding the risks posed by climate change for facilities or infrastructure assets starts with conducting a risk assessment, which requires an understanding of the physical impacts of climate change. However, for unfamiliar users, climate data is hard to integrate into enterprise risk management, financial risk modelling processes and risk analysis.This climate data primer serves as an introduction for financial, corporate and government stakeholders striving to understand their exposure to physical climate change.

Read the Report

Innovations in Climate Science

Solar-Powered “Saildrones”

Two solar-powered sail boats are returning to California this month after debuting their ocean monitoring capacity on a trip through the Pacific. These drones are part of a collaboration between NOAA and Alameda-based startup, Saildrone, and they may be able to replace the costly bouy system that scientists currently use to obtain ocean circulation data. The boats collect temperature, wind and solar radiation data, while also measuring ocean circulation currents and gas exchange. These data are more precise than data collected by satellites or buoys and have the potential to provide powerful insights into studies of climate’s impact on ocean circulation.

Autonomous Ice Robots

A squad of “Seaglider” robots have been programmed with navigational algorithms for their year-long journey under Pine Island Glacier in Western Antarctica. Some may sink or get lost in ice caves, but the rest will collect data on salinity, temperature and oxygen content to inform scientific understanding of the rate of ice loss with climate change and implications for sea-level rise, floating to the surface to transmit their data.

Science Funding in the Federal Budget

The omnibus bill passed by Congress and signed by the President last month, did not include the funding cuts to critical climate research that many feared. NOAA received $5.9 billion, which is $234 million above its FY 2017 amount. NOAA has many resources for adaptation professionals and others striving to better understand how the natural world affects their lives and businesses, ranging from its satellite system and weather data to its integrated science programs and US Climate Resilience toolkit. This alphabetized list highlights over 20 such resources.

CRA Webinar: What You Need to Know About TCFD and 2018 Reporting Cycles

Thu, May 10, 2018 1:00 PM – 2:00 PM EDT 
Climate change has become a growing concern for corporations, investors, and financial regulators alike. Corporations need to understand how the impacts of a changing climate may affect company operations or their broader value chain and assess how such impacts should be included in corporate disclosures and sustainability reports.

Emilie Mazzacurati will present an overview of how corporations can identify material risks, provide an update on rising regulatory requirements and changes to voluntary reporting frameworks to align with TCFD recommendations, and highlight opportunities to build resilience and adapt to new market conditions.

This programming is provided exclusively for Corporate Responsibility Association members and invited guests. To RSVP email Jen Boynton at jboynton@3blmedia.com.

Inside the Office at Four Twenty Seven

Four Twenty Seven Website Features New Insights Page

 

Our blog page has been revamped with featured articles at the top and an interactive filter feature that allows users to sort by author, client, media type and theme or to search for keywords.

Our most read publications this month include:

Upcoming Events

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

  • April 30 – May 1: 2018 Local Solutions Eastern Climate Preparedness Conference, Manchester, NH: Advisory Services Manager, Katy Maher, will discuss strategies to build local resilience with this convening of government stakeholders.
  • May 1: TCFD US Scenario Analysis Conference, New York, NY: Founder and CEO Emilie Mazzacurati and Chief Development Officer, Frank Freitas, will join this discussion about using scenario analysis in climate-related risk disclosure and resources to help corporations do so.
  • May 10: What You Need to Know About Climate Related Financial Disclosures (TCFD), CRA Webinar: Emilie Mazzacurati is the presenter on this webinar about corporate climate risk disclosure. CRA members only.
  • May 17: GRESB’s Sustainable Real Assets Conference, Washington, DC: Emilie Mazzacurati will keynote GRESB’s annual conference on infrastructure resilience and Chief Development Officer, Frank Freitas will join the convening.
  • May 23: Four Twenty Seven Webinar, 11am-12pm PST: Save the date for a webinar on city level physical climate risks and opportunities to access climate adaptation and resilience financing. Registration details forthcoming.
  • 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 Frank Freitas and Senior Risk Analyst, Léonie Chatain, to discuss ratings and engagement on physical climate risk in equities.
  • June 12-14: VERGE Hawaii, Honolulu, HI: Advisory Services Manager, Kendall Starkman, will join 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 12-14PRI 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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Using Climate Data – 427 Technical Brief

April 25, 2018 – 427 TECHNICAL BRIEF. Financial institutions, corporations, and governments  increasingly strive to identify and respond to risks driven by physical climate impacts. Understanding the risks posed by climate change for facilities or infrastructure assets starts with conducting a risk assessment, which requires an understanding of the physical impacts of climate change. However, climate data in its raw form is difficult to integrate into enterprise risk management, financial risk modelling processes, and capital planning. This primer provides a brief introduction to climate models and data from a business or government perspective.

The first of several reports explaining the data and climate hazards analyzed in Four Twenty Seven’s equity risk scores and portfolio analytics, Using Climate Data unpacks the process through which raw climate data is transformed into usable metrics, such as future temperature projections, to help financial, corporate and government users productively incorporate climate-based analytics into their workflows. Beginning by explaining what a global climate model is, the report explains climate data’s format, computational choices to hedge uncertainty and resources for aggregated climate projections tailored to specific audiences.

Key  Takeaways

  • Climate models are simulations of the Earth’s future conditions. Climate projections are based on a compilation of many models and are publicly available.
  • Regional climate models and statistical downscaling improve the resolution of data produced by global climate models and are thus valuable options when projections are only needed for one location or several in the same region.
  • Climate models can be used to project future trends in temperature and precipitation, but can not project discrete storms or local flooding from sea level rise, which require additional data and analysis.
  • Different time horizons of climate projections have different strengths and limitations so it is important to select the data product best suited to a specific project’s goal.
  • There are several drivers of uncertainty in climate models and strategies to hedge this uncertainty can help users correctly interpret and use climate projections.

Download the Report.

Winter Storm Riley Threatens Pharmaceuticals and Airlines

March 2, 2018 – 427 ANALYSIS. As Winter Storm Riley threatens to flood the Boston area, we find pharmaceuticals and airlines industries are most exposed to flood risk.  Boston is a hub for both research and industry and the long-lasting financial consequences could be dramatic for some of the corporations with facilities in low-lying areas. 

Only two months after Winter Storm Grayson flooded Boston with its highest water level on record (4.88ft), Winter Storm Riley is now inundating the city and is predicted to bring water levels about 4.5ft above average high tide levels. The timing of Riley exacerbates this flood risk, as the storm surge is on top of already higher than average tides associated with the full moon.

Figure 1. Facilities in downtown Boston and Cambridge are particularly exposed to coastal flooding. Red represents the most exposed facilities while green shows the least exposed. Source: Four Twenty Seven

The greater Boston area is a hub for both research and industry and as this flooding is expected to worsen into the evening, the long-lasting financial consequences could be dramatic. Four Twenty Seven’s database of corporate facilities shows several industries and companies most exposed to coastal flooding. Our coastal flooding risk indicator measures exposure for low-lying facilities considering a combination of future sea level rise and storm surge from storms of varying intensity. A facility with high risk is likely to flood even during low intensity storms (e.g. 1 in 10 year events) and is also likely to experience a relatively large increase in storm surge.

Figure 2. Pharmaceutical facility exposure to coastal flooding in the greater Boston area. Red represents the most exposed facilities while green shows the least exposed. Source: Four Twenty Seven

Pharmaceutical companies are highly vulnerable to flooding in Boston, with medical research facilities and pharmaceutical preparation sites belonging to Eli Lilly and Pfizer showing the most risk. This industry exposure is particularly alarming given the thousands of lab animals (often kept in basements) and years’ worth of research that were lost by cancer and neuroscience research labs that were flooded during Hurricane Sandy. The recovery of these facilities required months and extensive funds, affecting this industry long after the storm.

Figure 3. Airline facility exposure to coastal flooding in the greater Boston area. Red represents the most exposed facilities while green shows the least exposed. Source: Four Twenty Seven

Airlines and other related airport services companies are also likely to be badly impacted by today’s storm. Storm damage of runways takes time and funds to repair, while impacting travelers and airlines in wide-reaching causal chains. While the location of Boston Logan International Airport makes it particularly vulnerable, the scheduling offices of airlines such as Delta and United are also largely exposed. Thus, in addition to costly delays and cancellations due to the local conditions, these airlines may experience more widespread scheduling difficulties if these buildings are inundated.

While understanding the long-term economic impacts of Winter Storm Riley will take many months, these findings highlight potential implications for the pharmaceutical and airline industries, their investors, and those who rely on their services.

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Four Twenty Seven’s ever-growing database now includes close to one million corporate sites and covers over 1800 publicly-traded companies. We offer subscription products and advisory services to access this unique dataset. Options include data feeds, an interactive analytics platform and company scorecards, as well as custom portfolio analysis and benchmarking.

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.”

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