NEW YORK–(BUSINESS WIRE)–#KBRA–KBRA releases a report detailing the use of climate scenario forecasting and related vulnerability assessments by major municipal issuers in the U.S.
Municipalities across the country are trying to find systematic and data-driven methods of addressing the threat of climate change. However, uncertainty about future emissions levels, long time horizons, and the wide range of potential hazards are among the reasons climate-related risks are challenging to quantify. Still, despite these hurdles and the complexity of environmental science, a review of some of the largest KBRA-rated state and local governments suggests that sophisticated climate scenario forecasts are more common than what may be expected.
- Climate scenario forecasting has already been utilized by large state and local governments in various parts of the U.S., often projecting temperatures and precipitation through the end of the century.
- These governments tend to leverage existing scientific frameworks and task universities with conducting the analysis.
- Intergovernmental projects, funding, or mandates are ways that forecasting and vulnerability assessments are spreading.
Click here to view the report.
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