Climate change

Connecticut's governor proposed a new public finance tool as part of a broad plan to improve the state's resiliency against extreme weather and climate change.

The recovery of local governments and utilities from hurricanes Helene and Milton continues but the outlook for next season and beyond is troubling.

The insurance market going into the Jan. 7 catastrophe already had been hit with non-renewals and cancellations -- and an overburdened state-supported insurance plan. A Morningstar analyst said the state insurance commissioner's reform strategy could have turned it around but now faces new obstacles.

Airys puts "local governments in a position of knowledge and, therefore, action," said Columbus, Ohio, City Auditor Megan Kilgore, an advisor to the students.

Trading in Los Angeles credits has become more volatile. An L.A. Department of Water and Power deal slated for Wednesday went day-to-day.

Early totals on Los Angeles' trio of raging fires appear to vastly surpass devastating blazes experienced by the city over the past decade.

The NFMA has floated best disclosure practices for public power agencies that ask for more data on climate and resiliency goals.

The agency cited the closeness of the entities to Florida's government.

The tools come with risks, like legal challenges to "polluter pay" funds or potential corporate departures with cap-and-invest programs.

When communities can't access affordable insurance, it can decrease home values, tank municipal bond ratings, and cripple the tax base — and this will only get worse if left unaddressed.

Moody's believes Florida will sell bonds to help replenish the CAT fund this spring.

Oppenheimer's Head of Public Finance Beth Coolidge and Columbus Auditor Megan Kilgore delve into the future of public finance and human infrastructure on a wide range of topics, from affordable housing and workforce development to public health, climate resiliency, and digital access.

In the long run, Helene and Milton may further drive already rising property insurance costs, while in the short-term S&P placed three utilities on CreditWatch.

Local governments that were in Hurricane Milton's path, however, will face significant credit challenges, Moody's said.

MMA says some risky-sector issuers in the area hit hard by the hurricane may be pushed into technical or payment defaults.

Florida's catastrophe fund will weather the storm and shouldn't need reinforcements yet. Two Florida-related sales are still expected next week.

The study also projected a $1.475 trillion loss to productive infrastructure by 2050.

The ratio of local government municipal debt to GDP in aggregate has fallen to around 10% from 20% in 2010.

California and Texas have received the most amount of federal investment to date, according to a pair of reports tracking the climate law's investments.

As extreme weather events occur with more frequency across the country, Michael Gaughan, executive director of the Vermont Bond Bank, says municipal bond banks can help smaller communities deal with the effects of them. Gaughan speaks with The Bond Buyer's Lynne Funk on the effects of climate change and how the various levels of government can work together to address it.