The Weekly: U.S. Data Shows Resilience Investments Pay Back $1.86 Per Dollar
The economic losses from disasters that are not covered by insurance continue to grow, but resilience projects are generating measurable positive returns.
Last week, New York City experienced another round of flash flooding thanks to a violent downpour, highlighting a thorny question: When do you harden infrastructure against stormwater, and when do you work with it?
The Epicenter editors recently interviewed Daniel Zarrilli, former Chief Resilience Officer for New York City and current Chief Climate & Sustainability Officer at Columbia University, about his work during the post-Hurricane Sandy recovery effort.
From stormwater systems to flood mitigation projects, we must redefine community-level investments in resilience not as a municipal cost, but rather as a direct investment in preserving property values and stabilizing the private cost of homeownership.
When disaster strikes, the question is not whether we will rebuild, but how. The problem is that it costs more to rebuild a home to disaster-resilient standards. We need new flexible and dedicated financing products that make it easier for homeowners to make critical resilience investments.
The Greenline Housing Foundation is helping Altadena residents recover, rebuild, and remain in the neighborhood following January's devastating fire. This profile of Greenline’s work examines how rebuilding with resiliency can drive a recovery that preserves wealth and gets residents back home.