The Weekly: Why This Wildfire Season is Already Breaking Records
With fire seasons now roughly two months longer than they were in the 1970s, 2026 could reset the ceiling on wildfire losses again.
How Incremental CRE Actions Add Up to Resilience
Incrementalism is often dismissed as not scalable enough to translate into population-level outcomes. But a series of incremental changes, conducted by various stakeholders in concert, can translate into new norms, higher standards, and more resilient cities.
Building Codes Can't Keep Up With Climate Risk. Here's How States Can Take Back Control.
As long as building codes lag behind climate realities, private insurance markets will continue to dictate local safety standards by default. Resiliency Codes offer a clear, actionable strategy to change this dynamic.
Should Wood Be a Public Utility?
Treating wood as a public utility, rather than a waste product, could reduce fire risk, support insurer re-entry, and unlock economic value that currently goes up in smoke.
The Adaptation Economy Thesis
Four convictions drive an evolving investment thesis in the adaptation economy: 1) The adaptation economy is large and growing; 2) Resilience makes for more durable investments; 3) Investors see predictable growth and opportunity in the adaptation economy; 4) It’s still early and underserved.
Latest
The Weekly: Why This Wildfire Season is Already Breaking Records
With fire seasons now roughly two months longer than they were in the 1970s, 2026 could reset the ceiling on wildfire losses again.
Wildfires: The Drivers Putting People and Assets At Risk
Climate change and federal policies are making wildfires more frequent and intense. Migration patterns are increasing the exposure of assets to wildfire threats. And assets that are more vulnerable to wildfires translate into higher costs.
Wildfires: Opportunities For the Private Sector
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.
The Weekly: Why Small Moves Beat Big Mandates in Resilient Real Estate
Incrementalism is often dismissed as not scalable enough to translate into population-level outcomes. But a series of incremental changes, conducted by various stakeholders in concert, can translate into new norms, higher standards, and more resilient cities.
The Weekly: The Link Between Housing Resiliency and Affordability
The concept of adaptive capacity reveals that a household's ability to respond matters as much as its exposure.
The Weekly: Building Codes Can't Keep Up. Here's How States Can Take Back Control.
As climate-driven hazards accelerate, a dangerous structural misalignment has emerged: What building codes deem legally permissible to construct is increasingly at odds with what catastrophic risk models deem financially viable to insure.
The Weekly: How Maryland is Spending Its Conservation Dollars in Pennsylvania
Maryland is pioneering a cross-state conservation finance model to fund pollution reduction outside its borders while still meeting environmental obligations.
The Weekly: "Wood Utility" Facilities Could Improve Wildfire Resilience
Treating wood as a public utility, rather than a waste product, could reduce fire risk, support insurer re-entry, and unlock economic value that currently goes up in smoke.
Hazard briefings
The Weekly: Why This Wildfire Season is Already Breaking Records
With fire seasons now roughly two months longer than they were in the 1970s, 2026 could reset the ceiling on wildfire losses again.
Wildfires: The Drivers Putting People and Assets At Risk
Climate change and federal policies are making wildfires more frequent and intense. Migration patterns are increasing the exposure of assets to wildfire threats. And assets that are more vulnerable to wildfires translate into higher costs.
Wildfires: Opportunities For the Private Sector
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.
The Weekly: The Rising Costs of Severe Convective Storms
Several drivers are contributing to the rise in expensive severe convective storms: 1) population growth in high-risk areas; 2) non-resilient physical assets; and 3) rising building premiums.
Public finance
The Weekly: What is a Resilience District?
As federal disaster support shrinks, resilience districts offer local governments a promising new financing tool to fund climate adaptation on their own terms.
The Weekly: Winter Storm Fern Exposed Vulnerabilities in U.S. Water Infrastructure
The absence of references to climate change in utilities' bond disclosures suggests we have not systematically assessed how climate hazards could disrupt operations or revenues and, just as concerning, that they aren’t incorporating climate risk into capital planning and investment decisions.
The Weekly: The Risky Rise of State-Backed Reinsurance
Property insurance markets across the U.S. are under strain as premiums rise and insurers pull back from high-risk regions. In response, a growing number of states are leaning on public and quasi-public reinsurance backstops.
The Weekly: When Rainy Day Funds Run Dry
Two trends are colliding in state finance offices: Emergency, or “rainy day,” funds are shrinking at the exact moment climate-related revenue losses are mounting.