A shift is underway on Wall Street—investors are acknowledging the risks of climate change. A recent credit-ratings report on the bridge system connecting Miami to Key Biscayne provides a stark example of the new way of thinking.
"Each year, the Fitch credit-ratings firm issues a report on debt backed by tolls collected on Miami’s Rickenbacker Causeway, the bridge system connecting downtown to the shores of Key Biscayne," reports Douglas Hanks.
"On Thursday, Fitch debuted a new cash-flow concern for the Rickenbacker. 'Given its location,' Fitch analysts wrote, 'the causeway is exposed to extreme weather events in relation to rising sea levels and vulnerable to traffic and revenue disruptions.'"
The commentary on the risk of sea-level facing the bridge was triggered by a new scoring system implemented by Fitch in May, which includes a estimates on environmental risks, explains Hanks. Miami-Dade County seems sensitive to the idea that climate change poses risks to its borrowing and binding capacities. The county, "began including disclosures about climate change risks in the regulatory documents it must file for investors in county bonds," reports Hanks.
The state is planning to spend $2.5 million next year on a two-year analysis of the future of the bridges on the Rickenbacker.
Florida Real Estate Market Sounds Climate Alarms
New research suggests that real estate values were declining before prices started falling, but a climate-driven housing crisis could already be here in coastal Florida.
Miami Has the Most to Lose From Climate Change, Study Says
A new report by Resources for the Future, a nonpartisan economic think tank, claims that Miami is the most vulnerable coastal city in the world.
Sea-Level Rise Report: Bad News for South Florida
A climate change conference in Southeast Florida this week delivers bad news for communities on the coast in South Florida and in the Florida Keys. Some of those communities won't be saved as the receipts for climate change come in.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
The 120 Year Old Tiny Home Villages That Sheltered San Francisco’s Earthquake Refugees
More than a century ago, San Francisco mobilized to house thousands of residents displaced by the 1906 earthquake. Could their strategy offer a model for the present?
In Both Crashes and Crime, Public Transportation is Far Safer than Driving
Contrary to popular assumptions, public transportation has far lower crash and crime rates than automobile travel. For safer communities, improve and encourage transit travel.
Report: Zoning Reforms Should Complement Nashville’s Ambitious Transit Plan
Without reform, restrictive zoning codes will limit the impact of the city’s planned transit expansion and could exclude some of the residents who depend on transit the most.
Judge Orders Release of Frozen IRA, IIJA Funding
The decision is a victory for environmental groups who charged that freezing funds for critical infrastructure and disaster response programs caused “real and irreparable harm” to communities.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Clanton & Associates, Inc.
Jessamine County Fiscal Court
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service