skip to main content
skip to newscasts

Tuesday, April 23, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Biden administration moves to protect Alaska wilderness; opening statements and first witness in NY trial; SCOTUS hears Starbucks case, with implications for unions on the line; rural North Carolina town gets pathway to home ownership.

view newscast page
play newscast audioPlay

The Supreme Court weighs cities ability to manage a growing homelessness crisis, anti-Israeli protests spread to college campuses nationwide, and more states consider legislation to ban firearms at voting sites and ballot drop boxes.

view newscast page
play newscast audioPlay

Wyoming needs more educators who can teach kids trade skills, a proposal to open 40-thousand acres of an Ohio forest to fracking has environmental advocates alarmed and rural communities lure bicyclists with state-of-the-art bike trail systems.

Credit Agency Warns Cities to Prepare for Climate Change

play audio
Play

Tuesday, December 5, 2017   

HOUSTON - Municipal officials could be forced to deal with climate change sooner rather than later, or have their bond ratings downgraded.

Moody's Investor Services, a bond rating agency, says one element of how it now will determine a city's credit rating in Texas and across the country will be to assess their risk from climate change, and whether they are preparing to deal with the problem.

Ratings from Moody's help determine interest rates on bonds issued by cities to fund roads, buildings and other civic projects.

Shana Udvardy, a Climate Preparedness Specialist with the Union of Concerned Scientists, says coastal cities will have to make some tough decisions as sea levels rise.

"Cities can defend against the sea, they can also accommodate and learn to live with the water, and then the harder choice is thinking about having neighborhoods or communities retreat from areas that are too hard to live in anymore," she says.

Moody's identifies Texas, Florida, Georgia and Louisiana as the states most at risk for damage from climate change, although almost every state will be affected. The agency says it will assess both a city's risk from climate trends, a shift over several decades, and climate shock from extreme weather events such as natural disasters, floods and droughts.

Udvardy says the Texas coast already is seeing both short- and long-term risks from rising seas.

"Today, the Bolivar Peninsula is seeing 11 percent of their useful land being flooded by sea-level rise 26 times per year," she adds. "This number jumps to 26 communities in the 'high scenario' in 2100."

She says while some politicians deny that the results of climate change are human-caused, the threat of a bad bond rating will likely make it more difficult for them to disregard the problem.

"You can't ignore the floodwaters lapping at your house or your doorstep," states Udvardy. "So, it doesn't matter necessarily whether those political leaders are saying how it is caused. As long as they are acting to put protective measures in, they'll be rewarded by protecting their communities."

Good bond ratings are important because when financing large municipal projects, even a small change can cost a city's residents millions of dollars on their annual tax bills.


get more stories like this via email

more stories
Several Mississippi correctional facilities offer both short-term (12 weeks) and long-term (six months) alcohol and drug programs with individual and group counseling for treating alcohol and drug addictions. (Wesley JvR/peopleimages.com)

Social Issues

play sound

Mississippi prisons often lack resources to treat people who are incarcerated with substance-use disorders adequately but a nonprofit organization is …


Social Issues

play sound

April is Second Chance Month and many Nebraskans are celebrating passage of a bipartisan voting rights restoration bill and its focus on second chance…

Health and Wellness

play sound

New Mexico saw record enrollment numbers for the Affordable Care Act this year and is now setting its sights on lowering out-of-pocket costs - those n…


Migrants are put on buses from Texas to other states, often without knowing where they are going. (afishman64/Adobe Stock)

Social Issues

play sound

The future of Senate Bill 4 is still tangled in court challenges. It's the Texas law that would allow police to arrest people for illegally crossing …

Social Issues

play sound

Residents in a rural North Carolina town grappling with economic challenges are getting a pathway to homeownership. In Enfield, the average annual …

Social Issues

play sound

A new poll finds a near 20-year low in the number of voters who say they have a high interest in the 2024 election, with a majority saying they hold …

Social Issues

play sound

A case before the U.S. Supreme Court could have implications for the country's growing labor movement. Justices will hear oral arguments in Starbucks …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021