Unexpected disasters are causing damage in unlikely places, forcing decision-makers in the public and private sectors to prepare for the most common disasters in their region as well as the rare, once-in-a-hundred-year ones. But strategies exist to help decision-makers prepare for the unexpected.
Across the U.S., the average annual total costs of earthquakes is $14.7 billion, with the average earthquake costing between $1.5 to $3 billion. Adopting the latest seismic resilience codes can make buildings more earthquake-resistant and financial instruments can help communities rebuild quickly.
The Epicenter defines infrastructure as the physical, economic, and social systems central to the functioning of an economy and a society. Resiliency in critical infrastructure is about the ability to withstand extreme climate impacts and recover from them quickly.
Across the U.S., the average annual total costs of earthquakes is $14.7 billion, with the average earthquake costing between $1.5 to $3 billion. Adopting the latest seismic resilience codes can make buildings more earthquake-resistant and financial instruments can help communities rebuild quickly.
If each $1 invested in disaster preparation saves $13 in economic costs, damages, and cleanup, then it's clear that investing in the preparation for climate-related catastrophes produces a higher ROI than just focusing on recovery alone. But what, exactly, does that preparation look like?
California has high standards for wildfire, but even with policy changes, adoption is slow. The LA Fires will likely drive up rent prices, fueling displacement in the region. The fires are straining an already imbalanced CA insurance market.
Part II of our Wildfires Briefing explores four categories of opportunity for the private sector: 1) Implementing modern building materials and codes; 2) Technologies for better fire management; 3) New insurance models; and 4) Private financing for forest management.
Unexpected disasters are causing damage in unlikely places, forcing decision-makers in the public and private sectors to prepare for the most common disasters in their region as well as the rare, once-in-a-hundred-year ones. But strategies exist to help decision-makers prepare for the unexpected.
The Epicenter defines infrastructure as the physical, economic, and social systems central to the functioning of an economy and a society. Resiliency in critical infrastructure is about the ability to withstand extreme climate impacts and recover from them quickly.
If $1 invested in disaster prep saves $13, then it's clear investing in preparedness produces a higher ROI than recovery. But what does that preparation look like? An interview with Nanotech Materials offers an example of resiliency in the category of fortified roofing and building materials.
There are no silver bullet solutions for the private sector to adopt to dramatically reduce the costs of winter storms. The biggest lever to bring costs down exists in modernizing and winterizing the grid—an endeavor that will require substantial technological, mechanical, and financial investments.
Extreme weather events wreak havoc on a grid not designed to endure their frequency and intensity, but there are solutions to build resiliency. 1. Modernize grid infrastructure; 2. Install more microgrids; 3. Roll out more renewable energy to reduce fossil-fuel dependence
A smart transition of FEMA toward state and local disaster responsibility would encompass 1) reform to the Stafford Act to rebalance federal and state contributions, 2) a restructuring of state disaster relief funds, and 3) a shift toward regionalization of disaster response.
The muni bond market presents an opportunity to finance resiliency in a way that aligns policy-makers, community stakeholders, business interests, and investors. By strengthening local infrastructure to render assets less vulnerable to climate shocks, it can reduce disaster costs for communities.
In just a few hours, a severe storm can cause billions worth of damage. Three levers offer opportunities to enhance resiliency and reduce the costs of severe storms: 1) Invest in more resilient roofing; 2) Adopt more resilient construction practices; 3) Invest in new innovations and technologies.
A smart transition of FEMA toward state and local disaster responsibility would encompass 1) reform to the Stafford Act to rebalance federal and state contributions, 2) a restructuring of state disaster relief funds, and 3) a shift toward regionalization of disaster response.
The muni bond market presents an opportunity to finance resiliency in a way that aligns policy-makers, community stakeholders, business interests, and investors. By strengthening local infrastructure to render assets less vulnerable to climate shocks, it can reduce disaster costs for communities.
In 2024, the U.S. experienced 24 climate disaster events where losses exceeded $1 billion. As The Epicenter team reflects on themes from 2024, five questions are top of mind. The Epicenter asked resiliency practitioners to reflect on the past year and share their thoughts on what's to come in 2025.
Unexpected disasters are causing damage in unlikely places, forcing decision-makers in the public and private sectors to prepare for the most common disasters in their region as well as the rare, once-in-a-hundred-year ones. But strategies exist to help decision-makers prepare for the unexpected.
There are no silver bullet solutions for the private sector to adopt to dramatically reduce the costs of winter storms. The biggest lever to bring costs down exists in modernizing and winterizing the grid—an endeavor that will require substantial technological, mechanical, and financial investments.
In just a few hours, a severe storm can cause billions worth of damage. Three levers offer opportunities to enhance resiliency and reduce the costs of severe storms: 1) Invest in more resilient roofing; 2) Adopt more resilient construction practices; 3) Invest in new innovations and technologies.
Population growth in areas prone to severe storms has increased asset exposure and the physical assets in harm's way are not designed to withstand high winds or hail. Meanwhile, building premiums to rebuild after severe storms are increasing.