The Weekly: Resilience Went Mainstream at Climate Week NYC. Our Team Shared Three Takeaways.

Two years ago, sessions on resilience were hard to find at Climate Week NYC. This year, they were everywhere.

The Weekly: Resilience Went Mainstream at Climate Week NYC. Our Team Shared Three Takeaways.
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- Feature: Three Takeaways from Climate Week NYC.
- From the archive: The Second Best Time to Invest in Resilience Is Right After a Disaster Hits.
- In the news: The Science of Disaster Prediction.

Two years ago at Climate Week NYC, it took effort to find the panels and people talking about resilience. This year, it seemed like the topic was everywhere. Insurers, banks, investors, and philanthropists have stood up dedicated resilience programs, launched initiatives, commissioned research, and allocated capital.

Members of the Resiliency Company team, who showed up in full force at Climate Week NYC, weren't the only ones who noticed the shift; Convective Capital reflected that resilience was one of the major topics that dominated the conversation throughout the week’s proceedings.

Editors of The Epicenter distilled notes from The Resiliency Company team down to three takeaways.

  1. There is a difference between climate finance and resilience finance: Climate Week NYC spoke to how the rigor of discussion around resilience finance has evolved and become more mature. Michael Berkowitz, the Executive Director of the Climate Resilience Institute at the University of Miami, described how the growing separation of climate finance from resilience finance is helping the market understand the distinction between transition risk (the risk of shifting to a lower-carbon economy) and physical risk. (From Abby Ross, Founder & CEO of The Resiliency Company)
  2. Resilience is the throughline between housing, risk, and affordability: Climate Week this year included a housing track with several sessions on resilience in the built environment. The Natural Resources Defense Council hosted one session on how innovations in insurance can help drive resilient investments in retrofits. Marsh, a global professional services firm focused on managing risk, hosted another on the importance of place-based resilience. (From Alexis Pelosi, strategic advisor to The Resiliency Company)
  3. The resilience industry needs a better value proposition to make the case for resilience to governments. In roundtable discussions at Climate Week, there was talk of unique nature-based solutions for municipalities, funded through a complex system of diverse revenue streams. It was a novel approach, but too complex to reach meaningful scale. To get state and local governments to fund resilience projects, "the resilience industry" needs stronger value propositions and simpler models that tap into public budgets. (From Matt Posner, the Head of Public Finance for The Resiliency Company)

Climate Week NYC is expanding beyond emissions and energy-transition technology and into the physical world of construction and risk, where the opportunity is to build and rebuild with resilience.

The Epicenter Posts You Might Have Missed:

Photo by Smart / Unsplash

What We’re Reading From the Resiliency Ecosystem

Photo by Kenny Eliason / Unsplash

Public Infrastructure

  • The Science of Disaster Prediction | Convective Field Notes | Climate scientist Daniel Swain argues that forecasting increasingly dangerous hazards is only half the resilience equation. His case study of the Los Angeles fires shows that better forecasting is only effective if homes and neighborhoods are built to survive fire once it arrives. 
  • Beaches Are Disappearing in Southern California as El Niño Bears Down | The New York Times | Powerful swells are stripping sand from Southern California beaches, damaging homes and cutting off a key rail line as a potentially severe El Niño approaches. The immediate response is often to armor the coast or replace lost sand, but experts and regulators are increasingly grappling with when protecting development becomes harder than moving it.
  • Load Growth is Straining Already Worn-Out Electrical Equipment | Latitude Media | The surge in electricity demand from data centers is putting pressure on aging equipment. Years of underinvestment are colliding with equipment shortages, making life-extension and predictive maintenance increasingly important. Data center growth may be exposing the problem, but extreme heat will put many of those same aging systems under even more strain.

Read more about resilient public infrastructure and government solutions on The Epicenter here.

Real Estate & Construction 

Read more about resilient real estate on The Epicenter here.

The Statistic of the Week 

8/160

Only 8 out of the 160 utility companies operating in fire-prone areas in Texas have filed wildfire response plans this year. The companies are legally required to file plans by the end of the year.

Source: Texas Tribune


Have thoughts to share or want to add your voice to the conversation? Reach out!

The Epicenter helps decision-makers understand climate risks and discover viable resilience solutions. The Epicenter is an affiliated publication of The Resiliency Company, a 501(c)3 nonprofit dedicated to inspiring and empowering humanity to adapt to the accelerating challenges of the next 100+ years.

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