Weather and Climate Change Risk

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

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

Fixed income is largely underserved in terms of climate risk analytics and sustainability data, said Larry Lawrence, Head of ICE Climate.

The city of Clyde defaulted in August and recently revealed it used debt proceeds for debt payments in a manner that "disguised the deficit cash flow."

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.

Efforts at every level to respond to the growing problem of extreme heat are beginning to reshape how state and local governments think about emergency management.

A revenue bond issue for Galveston Wharves will price Tuesday after Hurricane Beryl interrupted port operations earlier this week.

With a myriad of challenges facing state and local governments to fund vast infrastructure needs amid a shifting climate and severe weather events, there are government officials across the country that have begun to address them head on. Paying for them is one of the biggest challenges.

Local rainfall standards, which affect the design of everything from roads to bridges and stormwater systems, offer a clue whether a city or state is taking infrastructure resilience seriously. Outdated standards remain in many areas, like in the Pacific Northwest.

"Insurance rationing by the leading insurers is becoming the mechanism by which climate risk is starting to impact municipal issuers," said Triet Nguyen, vice president of strategic data operations at DPC Data.