Economics

whitehouse.gov - August 2013

The following is an accounting of Federal funding for climate change programs and activities, both domestic and international, included in the fiscal year (FY) 2014 President’s Budget.

Federal Climate Change Expenditures - Report to Congress (48 page .PDF report)
http://www.whitehouse.gov/sites/default/files/omb/assets/legislative_reports/fcce-report-to-congress.pdf

insurancejournal.com - by Andrew G. Simpson - January 7, 2014

The U.S. Senate is expected to take a key vote soon on a bill that would delay some of the flood insurance rate hikes triggered by the Biggert-Waters Flood Insurance Reform Act of 2012. . .

. . . The procedural vote on S.1846 was originally planned for Wednesday, but the Senate is still dealing with an extension of federal unemployment benefits, delaying consideration of the flood bill. U.S. Sen. Mary Landrieu (D-La.), a major advocate for the bill, told USA Today that  “next week is more realistic” for any vote on the flood bill.

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The Maritime Center in New Haven during Hurricane Irene.

submitted by Bill Greenberg

uli.org - by Robert Krueger - December 11, 2013

WASHINGTON (December 11, 2013) – The Urban Land Institute (ULI), a global research and education institute dedicated to responsible land use and sustainable community building, has been awarded an $800,000 grant from The Kresge Foundation to support the institute’s pursuit of urban design and development practices that are more resilient and adaptable to the impact of climate change.

ULI’s community resiliency program explores how issues related to climate change are affecting the real estate industry and reshaping urban growth patterns. Through the grant from The Kresge Foundation, ULI will leverage the substantial expertise of its members to provide guidance on community building in a way that responds to inevitable climate change and sea level rise, and helps preserve the environment, boost economic prosperity, and foster a high quality of life.

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A man walks through flooded streets in Hoboken, New Jersey, after Superstorm Sandy | Emile Wamsteker/Bloomberg via Getty Images

As subsidized rates of federal flood insurance rise, property owners along the coasts get angry. But we need insurance that reflects the risks of a changing planet

time.com - by Bryan Walsh - October 1, 2013

Thousands of homeowners in flood-prone parts of the country are going to be in for a rude awakening.  On Oct. 1, new changes to the National Flood Insurance Program (NFIP), which offers government-subsidized policies for households and businesses threatened by floods, mean that businesses in flood zones and homes that have been severely or repeatedly flooded will start going up 25% a year until rates reach levels that would reflect the actual risk from flooding. (Higher rates for second or vacation homes went into effect at the start of 2013.) That means that property owners in flood-prone areas who might have once been paying around $500 a year—rates that were well below what the market would charge, given the threat from flooding—will go up by thousands of dollars over the next decade.