Sunday, August 23, 2020

2021 and Beyond. Who? Biden is already forming a government. Here's what his Cabinet

BEMA International is a nonpolitical organization, but policy of great concern.

               Who shall be the next DHS Secretary in 20201?

                Next FEMA Administrator?

                Depart of Agriculture Secretary?

                HUD?

                Environmental Protection Agency?

                These are our concerns?

BEMA International

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Biden is already forming a government. Here's what his Cabinet could look like.

 An array of officials, from progressives like Elizabeth Warren to establishment types like Susan Rice, are seen as likely for key posts.

 Joe Biden and Susan Rice

 Former National Security Adviser Susan Rice, who made Joe Biden's short list for vice president, is often mentioned as a potential pick for secretary of State. | Mike Theiler/Getty Images

 

By DAVID SIDERS

08/21/2020 04:30 AM EDT

 https://www.politico.com/news/2020/08/21/joe-biden-cabinet-picks-397905

 Sherrod Brown, the progressive senator from Ohio, says he’s talking with the Biden campaign about “where he needs to look and who he needs to look at” as he begins to form a potential administration.

 Other people in positions of power, both inside and outside government, are engaged in similar conversations.

 It’s part of an early, behind-the-scenes effort by the Biden campaign to shape the contours of a government he has pledged would be “the most progressive administration since FDR.”

 Biden’s White House and his Cabinet would likely lean on his connections from the Obama administration, including institutionalists who are palatable to centrist Democrats. But in the same way Biden shifted left on policy in recent months in response to the pandemic, he is also taking advice from the progressive wing of the party.

 Interviews with more than a dozen Democrats familiar with his transition process describe an effort by his campaign to assemble a center-left amalgamation of personnel designed to prioritize speed over ideology in responding to the coronavirus and the resulting economic ruin. Think Susan Rice, but also Elizabeth Warren. Pete Buttigieg, but also Karen Bass.

 “I think those [ideological] distinctions are going to be a little hard to draw in this administration,” said Matt Bennett, whose center-left group Third Way, like others, is developing lists of candidates to propose to Biden’s advisers for sub-Cabinet and other roles.

 One Democratic strategist familiar with Biden’s work to form a government said, “Does it mean that the chief of staff won’t be [longtime Biden advisers] Ron Klain or Steve Ricchetti or something? No, but it does mean you’re going to see some unusual suspects in the government, I think.”

 Among those advising Biden on the transition are centrist-minded establishment figures such as Tony Blinken, the former deputy national security adviser in the Obama-Biden White House, and Lawrence Summers, the ex-Treasury secretary and bane of progressives who said last week that he will not go into the administration. Ricchetti, Biden’s former chief of staff, is a former lobbyist.

 Elizabeth Warren

 Sen. Elizabeth Warren is widely viewed as a potential Treasury secretary in a Biden administration. | Samuel Corum/Getty Images

 But Biden is also taking economic advice from Warren, Democrats familiar with the campaign say. She is widely viewed as a potential Treasury secretary in a Biden administration. It did not go unnoticed when Biden in April called corporate America “greedy as hell.” He has also proposed raising the corporate tax rate.

 And progressives have been heartened by the composition of his transition team. Headed by former Sen. Ted Kaufman, a longtime Biden adviser and Biden’s successor in the Senate, it includes Julie Siegel, who has been a top Warren adviser, and Gautam Raghavan, chief of staff to Rep. Pramila Jayapal, co-chair of the Congressional Progressive Caucus.

 "I think this is about getting seasoned people that are really qualified to do the job. People with experience, people that are smart as hell and people that reflect America," Kaufman said in an interview. “A lot of this isn’t about ideology or anything else. It’s totally about what do you do with the incredible hollowing out that Trump has done ... so many of the agencies just are empty, the career people have left.

 "You’re going to be walking into a very difficult situation, and a lot of it’s going to be blocking and tackling.”

 One name often mentioned as a potential secretary of State is Rice, who was Obama’s national security adviser and made Biden's short list for vice president. Blinken is often mentioned as a potential national security adviser.

 Tony Blinken is often mentioned as a potential pick for national security adviser. | Getty Images

 Warren’s potential selection for Treasury could depend in part on the balance of the Senate after the November election. If she steps down, her state’s Republican governor, Charlie Baker, would appoint her replacement — a Republican, presumably — until a special election. But there are workarounds.

 A veteran Democratic strategist close to Biden’s transition team said that if Warren wants a post, she is “definitely in the Cabinet.” And even if she isn’t, she's likely to influence Biden’s thinking.

 Elsewhere in the Cabinet, Los Angeles Mayor Eric Garcetti, who endorsed Biden in early January and served on his vice presidential selection committee, is a likely candidate for transportation or Housing and Urban Development, among other possible positions. Rep. Karen Bass (D-Calif.), another finalist for vice president, could be secretary of HUD or Health and Human Services.

 New Mexico Gov. Michelle Lujan Grisham “comes up a lot” in Cabinet talks, according to one former Biden adviser who remains in contact with Biden campaign officials. Buttigieg, the former South Bend, Ind., mayor and presidential contender, is seen as a likely choice for ambassador to the United Nations or secretary of Veterans Affairs. And Jared Bernstein, a longtime economic adviser to Biden, is frequently mentioned as a potential chair of Biden’s Council of Economic Advisors. Bernstein was among the administration veterans and academics who gave Biden and Harris an economic briefing last week.

 Pete Buttigieg

 Former South Bend, Ind., Mayor Pete Buttigieg is seen as a likely choice for ambassador to the United Nations or secretary of Veterans Affairs. | Ethan Miller/Getty Images

 

Discussing the kind of leaders he wants to surround himself with at an event in April, Biden said his job is “to bring the Mayor Petes of the world into this administration … and even if they don't come in, their ideas come into this administration.”


He has left open the possibility of including a Republican in the Cabinet and is considering adding a climate-focused position.

 “I think he will govern like [Bill] Clinton in terms of consensus-building, but he will be surrounded by a lot of Obama people,” said former New Mexico Gov. Bill Richardson, who served in the Clinton administration as energy secretary and ambassador to the U.N. “I believe he will have a free reign for six months, and then if there isn’t major, positive change, you know, the fractures in the party will start showing.”

 The health and economic wreckage from the pandemic has changed Biden’s outlook on the presidency and his preparations for a potential administration. Seeing the immediate, post-Trump era in more transformational terms than he did before, he has adopted a more expansive legislative agenda, including more robust college affordability, bankruptcy and Social Security plans. He has significantly expanded his proposal to address climate change, proposing to spend $2 trillion over four years on a suite of programs.

 Biden’s advisers are preparing for the opening months of his administration almost as a rescue mission, with contingencies to address the coronavirus based on how severe it remains and on whether a vaccine is available.

 Karen Bass

 Rep. Karen Bass could be secretary of HUD or Health and Human Services. | Drew Angerer/Getty Images

 “Between Covid-19, what Trump’s done and the economy, this is going to be a totally different transition because of that. It’s just going to be very, very difficult," Kaufman said.

 However, he added, “When [Biden] shows up on the first day, he’s not going to need to be told where the Situation Room is. He’s been in the Situation Room for hundreds of hours. So he’s going to come in as … the most experienced and qualified person in terms of federal experience of anybody in the history of the country.”

 The prospects of Biden’s legislative agenda would rest heavily on whether Democrats win the Senate. Just as Biden is preparing to populate the executive branch, he is laying groundwork to move legislation. Biden speaks with Senate Minority Leader Chuck Schumer (D-N.Y.) and House Speaker Nancy Pelosi (D-Calif.), and their staffs are in regular contact.

 Last month, Biden signaled an openness to ending the 60-vote filibuster rule, a practice President Barack Obama recently called a “Jim Crow relic.”

 “The filibuster is gone,” said Harry Reid, the influential former Senate majority leader and a friend of Biden. “It’s not a question of if, it’s a question of when it’s going to go … Next year at this time, it will be gone.”

     “The filibuster is gone."

    Former Senate Majority Leader Harry Reid

 When asked what changed Biden’s thinking about the filibuster, Reid said, “I don’t know. I talked to him and Ricchetti about it. Maybe that helped a little bit. I think, just basically, pragmatism — if he’s going to get anything done as president, [the filibuster] has got to go.”

 Biden campaign advisers say he considers his “Build Back Better” agenda a package that can get broad buy-in, not a legislative starting point. Jake Sullivan, a former top State Department official and a senior adviser to Biden, said that as he formulates his legislative agenda, Biden is “being attentive to how you construct a bold, integrated agenda that can also attract a big tent coalition of support.”

 And Stef Feldman, the Biden campaign’s policy director, said that in addition to Biden's legislative experience, he "also knows how to move the levers of government in the executive branch.”

 Brown, who would likely become chairman of the Senate banking committee if Democrats win the Senate, said it is not Biden "moving to the left," but "Biden, and all of us around him, recognizing this is going to be a very consequential presidency."

 The fear among some progressives is that Biden’s relationships and penchant for compromise may serve to water down the Democratic agenda. Larry Cohen, the former Communications Workers of America president who now chairs the Bernie Sanders-aligned group Our Revolution, said the inclusion of progressives on Biden’s transition team is “the reason I’m hopeful” about a Biden administration.

 Invoking Biden’s frequent references to FDR, Robert Reich, the Clinton-era Labor secretary, recalled that Roosevelt initially “was certainly not thought of as somebody on the left.” At first, he placed trust in the nation’s financial institutions, pursuing a working relationship with both populists and business interests early in his administration.

 It was only after businesses balked and the relationship deteriorated that Roosevelt changed course.


Then and now, Reich sad, “America was ready and willing and eager to try almost anything.”

 “The country will get behind Joe Biden, I think, in very powerful and important ways,” Reich said, adding that Biden has the opportunity to be “a transformative president … It’s almost entirely a function of the times.”

 Filed Under: Elizabeth Warren, Elizabeth Warren 2020, Joe Biden, Joe Biden 2020, Susan Rice, Tony Blinken,

 

National Latino Farmers & Ranchers Trade Association 

1029 Vermont Avenue, NW, Suite 601

Washington, DC 20005

Office: (202) 628-8833

Fax No.: (202) 393-1816

Email: latinofarmers@live.com 

Twitter: @NLFRTA

Website: www.NLFRTA.org 



 -------------------

Black Emergency Managers Association 

1231  Good Hope Road  S.E.

Washington, D.C.  20020

Office:   202-618-9097 

bEMA 

 

Leaders don’t create followers, they create more leaders.   Tom Peters

…….The search is on.

Preparing the whole community, the whole nation, one world.

 

 


Saturday, August 22, 2020

For the children, for the future. BEMA International

 Notice any similarities in the children's faces, those in the U.S. and in a distant land?

Is it best to stay out of the limelight and get things done quietly? Not charged but...A billionaire who vowed to pay off student loans for an entire college graduating class is said to be facing a criminal tax probe | Markets Insider

 

https://markets.businessinsider.com/news/stocks/billionaire-tech-investor-robert-smith-faces-criminal-tax-inquiry-2020-8-1029524147 

Register: Hurricane Katrina 15 years later, Are We Prepared?

 Celebrate Healthcare Wellness Webinar Series:

Hurricane Katrina 15 years later, Are We Prepared?
Tuesday, August 25th marks the 15th Anniversary of one of the Deadliest Hurricanes in History, What what have we learned? Are we Hurricane Ready in the Age of Covid -19? What's Happening with Sea Level Rise? Is there an a Evacuation Plan? Especially from Black. and Brown people?
Panelist:
Congressman Bobby Scott
Rev. Lennox Yearwood - CEO, Hip Hop Caucus,
Climate Environmental Justice Activist
Colonel. Paul Olsen (Ret.) former Commander of the Norfolk District, U.S. Army Corps of Engineers. Specializes in Civil and Environmental Engineering, Sea Level Rise Planning,
Eileen Woll - Offshore Energy Program Director - Sierra Club .
Dr. Dwight Riddick .Senior pastor of the Gethsemane Baptist Church in Newport News,
Charles Sharp - Cornell University Climate Fellow
Chairman\CEO -Black Emergency Managers Association International
Additional panelist TBA
When: Aug 25, 2020 07:00 PM Eastern Time (US and Canada)
Topic: Hurricane Katrina 15 years later, Are We Prepared?
After registering, you will receive a confirmation email containing information about joining the webinar.
For more info- 757 287-0277

Friday, August 21, 2020

Congratulations. But hopefully not at the Expense of EXCLUSION of all Black Males (young and old).

 As black women, our time has come!








 


"As black women in this century living in the United States, our time has come! 

While we have always been strong in the midst of adversity, receiving accolades for heroism earned throughout history, demonstrated through the lives of Harriet Tubman, Sojourner Truth, Fannie Lou Hammer, Ella Baker, Rosa Parks, Shirley Chisholm and so many more unnamed black women, we are no longer invisible. 


Read more...

 

Cities on the Frontline Speaker Series #25 URBAN DENSITY August 27th, 2020, 09:00am ET, 02:00pm BST, 09:00pm Singapore

 

View this email in your browser

 

Cities on the Frontline Speaker Series #25
URBAN DENSITY

August 27th, 2020, 09:00am ET, 02:00pm BST, 09:00pm Singapore

Please join us for the 25th Session of Cities on the Frontline, jointly organized by Global Resilient Cities Network & the World Bank, which will focus on Urban Density: Does Urban Density Matter in the context of COVID-19? We will be joined by Dr.-Ing. Wiwandari Handayani, Associate Professor, Dept of Urban & Regional Planning, Diponegoro University, Semarang, Indonesia, Jagan Shah, Senior Infrastructure Advisor, DFID-India, and former Director, National Institute of Urban Affairs and Judy Baker, Global Lead and Lead Economist, Urban, DRM, Resilience and Land, The World Bank.

 

 

 

 

Cities on the Frontline Speaker Series is a weekly speaker series co-organized by the Global Resilient Cities Network and the World Bank City Resilience Program since March 2020. The purpose of the series is to share knowledge to help cities respond to the pandemic crisis and plan towards recovery with resilience.

For questions, please contact: media@resilientcitiesnetwork.org

 


Education & Training. Opportunity. United Nations Office for Disaster Risk Reduction (UNDRR) Sept- Oct 2020

 

We are pleased to invite you to join the online training on “Making Cities Resilient: Developing and implementing local disaster risk reduction strategy to respond to COVID-19 and to better prepare for the future", jointly delivered by the United Nations Office for Disaster Risk Reduction (UNDRR) Global Education and Training Institute (GETI), the United Nations Office for South-South Cooperation (UNOSSC) and the Pan American Health Organization (PAHO).

 Date:  08 September  – 06 October 2020 (Tuesdays, 5 online sessions and 1 self-paced assignment)

Time: 07:30 New York (USA) | 20:30 Incheon (Republic of Korea)

All participants completing at least 75% of this training will receive Certificate of Participation.

 Register for the course: https://bit.ly/3j4zsux

 

Course Objective

The aim of this training is to strengthen an understanding on making cities resilient and to provide suite of tools to develop an evidence based local disaster risk reduction planning with multi-stakeholder engagement and in alignment with the national DRR strategies and Sendai Framework.  The course also aims to introduce and familiarize local experts and government officials to South-South and Triangular Cooperation and its importance in disaster risk reduction, public health, and climate change adaptation agenda.

 

Target Audience

Local and national government officials in charge of disaster risk reduction and management, urban development and planning; national associations of municipalities; urban resilience practitioners as well as civil society, private sector, and academia. The course is open to all applicants from both developed and developing countries, especially the young experts and officials.  Participants from Least Developed Countries (LDC) and Small Island Developing countries are highly encouraged.

 

Training Language: English with Spanish simultaneous interpretation

 

Training Agenda

For more information, please visit: https://www.undrr.org/event/undrr-geti-unossc-paho-joint-online-training-making-cities-resilient-developing-and

Thursday, August 20, 2020

No one cares until the crisis\disaster\emergency is at your doorstep. Katrina, Haiti, Sandy, Ebola, Puerto Rico, COVID-19, and on and on.

 

Recovery\Homelessness in COVID-19 2020. What are the next steps beyond 'business as usual'?

 

View this email online.

 



While social isolation may have become the new normal, for homeless people, staying healthy during a pandemic presents a unique challenge that requires unique solutions. Cities nationwide have been scrambling to find answers.

 


Monica Valdes Lupi


Claude A. Jacob, the chief public health officer of Cambridge Health Alliance, has been part of that search for solutions in Cambridge, MA. When the city established a temporary homeless shelter, health workers realized they would need help establishing key safety measures.
 

“I was looking for any organizations that could help us acquire personal protective equipment,” Jacob told us. “The CDC Foundation came through in the clutch.”

The new relationship between the city of Cambridge and the Foundation soon led to additional funding to help support the shelter and boost similar service providers, like food pantries.

 

 

“From the time that we applied for and received the funding, the turnaround time seemed like it was overnight.  That made a world of difference for us to support our response efforts on the ground.”



You can make it possible for us to create meaningful change in communities, Will you help us harness our collective power against the virus? Join us to crush COVID!

Together our impact is greater.

 

 

Wednesday, August 19, 2020

Disasters and Climate Change Affecting Municiple Bond Ratings. “As investors get smarter about climate change risk, it will become more expensive for governments with the largest need to borrow,”

 https://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2019/10/01/climate-change-could-make-borrowing-costlier-for-states-and-cities#:~:text=Governments%20pay%20higher%20interest%20rates,their%20credit%20ratings%20are%20low.&text=To%20date%2C%20the%20bond%20market,respect%20to%20climate%20change%20vulnerabilities.

 

 

 


Climate Change Could Make Borrowing Costlier for States and Cities










A woman walks along a flooded street in Miami Beach, Florida. 

Miami-Dade County has been praised by analysts for its infrastructure 

investments focused on climate preparedness as credit ratings firms 

begin to focus on climate change.

Lynne Sladky/The Associated Press

 

Someday soon, analysts will determine that a city or county, or maybe

a school district or utility, is so vulnerable to sea level rise, flooding,

drought or wildfire that it is an investment risk.

 

To be sure, no community has yet seen its credit rating downgraded

because of climate forecasting. And no one has heard of a government

struggling to access capital because of its precarious geographical position.

 

But as ratings firms begin to focus on climate change, and investors

increasingly talk about the issue, those involved in the market say now

is the time for communities to make serious investments in

climate resilience — or risk being punished by the financial

sector in the future.

 

“We look not just at the vulnerability of state and local governments,

but their ability to manage the impact,” said Emily Raimes, vice president

with Moody’s Public Finance Group. “While we’ll be looking at the data

on rising sea levels and who may be more vulnerable, we’ll also be

looking at what these governments are doing to mitigate the impact.”


Moody’s has been especially vocal about its climate change concerns. The firm has issued numerous papers assessing climate risk, and two months ago it purchased a majority stake in Four Twenty Seven, a climate-risk data firm.

Emilie Mazzacurati, Four Twenty Seven’s founder and CEO, said that the bond sector’s attention to the issue should prompt local governments to make it a priority. “It creates an incentive for them to be better prepared, because it’s going to cost them money if they don’t.”

 

Cities Borrow Big to Pay for Infrastructure

State and local governments depend on municipal bonds to finance two-thirds of their infrastructure projects, and analysts are starting to consider how the bond market should adjust as its issuers face increasing risks because of climate change.



But some worry that punishing places for their susceptibility to climate change will just make it more difficult for them to finance the infrastructure improvements that might protect them.

“Nobody has yet been penalized for having a bad environmental policy or practice or system,” said Tim Schaefer, California’s deputy treasurer for public finance. “I don’t know how much longer that’s going to go on. I’m assuming not much longer.”

Assessing Florida’s Future

Governments large and small rely on the $3.8 trillion municipal bond market for much of their infrastructure work. When officials want to build a highway or a school — or a seawall or an emergency operations center — they often issue bonds, bringing in the money needed to complete the project. Investors are repaid with interest over a period that can run for decades or more. 

About two-thirds of infrastructure projects in the United States are paid for by municipal bonds, and more than 50,000 states, local governments and other authorities have issued bonds to finance their work.

Governments pay higher interest rates on those bonds when their credit ratings are low. Firms such as Moody’s Investors Service and Standard & Poor’s Financial Services issue the ratings assessments.

“Investors are in a position of demanding a higher return when they see greater risk,” said Kurt Forsgren, managing director of S&P Global Ratings.

Municipal bonds are considered a conservative investment, with a current default rate of around 0.3%, according to Matt Fabian, a partner at Municipal Market Analytics. To date, the bond market has done little to reflect that the risk may be increasing. 

“There is almost no impact on muni bond prices with respect to climate change vulnerabilities. Prices do not acknowledge the risk in climate change,” he said.

As more investors and firms study the risks, however, that might change.

“We are about a year away from climate change beginning to affect the muni market — a little,” Fabian said. “Changes on the investor side are going to happen first, [credit] ratings will come second, and issuer behavior will be a distant third.”



Some investors already have begun to factor climate change into their decisions. Eric Glass, a portfolio manager with AllianceBernstein, said his portfolio opted to steer clear of a recent three-decade bond in the Florida Keys, which is facing rising sea levels.

“What does [the Florida Keys] look like in 30 years?” Glass said. “I don’t know. But I know it’s not going to look like what it looks like today. That is a tough calculus to make, and we’ve decided not to take it.”

David Jacobson, vice president of communications for Moody’s Public Finance Group, called a downgrade over climate projections a “what-if type of thing.” Moody’s ratings are based on what its analysts expect a government’s creditworthiness to be in the next 12 to 24 months, he said, even though the bonds they issue can run for decades. 

“The things that are happening right now or in the next 24 months weigh a whole lot more than things we think will happen in 15 to 20 years,” said Lenny Jones, a managing director at Moody’s. “We’re not scientists.”

Credit-rating firms have always acted conservatively, said Justin Marlowe, a professor at the University of Washington who studies public finance. To some critics, that reluctance to downgrade pre-emptively is leaving the market unprepared for the onslaught of climate effects that so many local governments will face. 

That’s the conundrum facing the municipal bond market right now: If the market fails to be proactive about future risks, it could lead to billions in ill-fated investments in communities at the forefront of climate change. But making it more expensive for governments with environmental liabilities to borrow money could prevent them from making the improvements needed to strengthen their infrastructure.

And just because a city is likely to be struck by sea level rise or wildfire doesn’t necessarily mean it will default on its bonds. Further effects like crop yields and population shifts — and their impact on a tax base — could prove even harder to project. 

“It’s a pretty big step from ‘we have economic impacts’ to ‘this is going to affect their long-term ability to repay their bonds.’ There’s a really big difference,” Mazzacurati said. “[Ratings firms’] focus is really about counties who repay their debt. That’s it. There can be really important impacts that are not going to be reflected in the bond rating, and that doesn’t mean the bond rating is off.”

Disaster Fallout

So far, the few climate-related credit downgrades have come after specific disasters. New Orleans and Port Arthur, Texas, experienced credit downgrades after major hurricanes. And after a fire nearly destroyed Paradise, California, last year, the pool of pension obligation bonds it was a member of saw its credit downgraded. 

As New Orleans rebounded, its credit improved. The city adopted a resilience strategy, bolstered its levee system and pursued other projects, such as turning green space into water reservoirs during periods of flooding. Today, the city sees its biggest climate threat as extreme rainfall, which has increased in frequency in recent years and flooded parts of the city.

Leaders in New Orleans are asking voters to approve $500 million in new bonds, which would pay for infrastructure improvements such as the replacement of outdated pipes, as well as other goals like affordable housing. City officials say it shows New Orleans is “doubling down” on its infrastructure program.

“The environment is changing. More water’s coming down in a shorter period, and we have to respond to that,” said Norman White, the city’s chief financial officer. “Our first responsibility is to the citizens of New Orleans. Fortunately, that lines up with investors.”

Coastal cities across the country are building seawalls to stave off rising oceans. Others are elevating roadways to prepare for more frequent flooding. Some are requiring sturdier new construction and retrofitting existing buildings to withstand severe weather events. Communities in drought-prone areas may focus on projects such as water storage, while those with flooding concerns must fortify their sewage infrastructure. 

Last year, Moody’s surveyed the 50 largest U.S. cities; 28 responded. Among them, they had 240 climate resilience projects, totaling $47 billion. Some 60% of the projects were to combat flooding. 

Florida’s Miami-Dade County has been praised by analysts for its infrastructure investments focused on climate preparedness. Ed Marquez, the county’s deputy mayor, said future financing is a “concern,” but officials are trying to address that with capital plans focused on dealing with the changing climate.

“This is a many-year process as we fix our infrastructure, as we add new infrastructure, as new science comes on board,” he said. “Miami is still growing. People are still coming. Investors are buying our bonds. We’re telling them what the odds are, but it’s odds that they’re willing to play.”

Statewide, Florida remains in good shape creditwise, despite the challenges many of its communities are facing. Ben Watkins, the state’s director of bond finance, said that’s likely to continue, even amid hurricanes and rising sea levels. Even the most devastating hurricane seasons have ended up being a “blip on the radar” in terms of Florida’s credit health, he said. But concern remains for smaller governments within the state. 

“People are dying to come to Florida and coming to Florida to die,” he said. “Until that changes, we’ll have the economic engines to be able to access credit.”

Cities with climate change risks should follow Florida’s lead and borrow now for local projects, said Fabian, the analytics researcher.

“As investors get smarter about climate change risk, it will become more expensive for governments with the largest need to borrow,” Fabian said. “Their costs to borrow could certainly be higher. Acting earlier is almost always cheaper.”

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