Blog: New climate risk disclosure recommendations explained
What are the climate risks to California’s state spending? Alicia Seiger: Every sector of the economy will be impacted by climate change, but the industries with the greatest exposure overlap a lot with state spending, like infrastructure. Construction projects near the coast can be delayed by flooding amid rising sea levels. Should those projects be moved inland? Are there alternative solutions to the same infrastructure need? If not, do the state’s counterparties have the ability to manage the costs of potential delays or rebuilds?