“How is Climate Change Affecting Cities’ Credit Scores?” Earth Economics sits down with Bill Radke on KUOW 94.9fm
“You’re probably aware that having too much credit card debt could damage your credit score. What about building your city too close to the water? Moody’s has started giving local governments credit ratings based on their financial exposure to climate change. Rowan Schmidt is program director at the Tacoma nonprofit Earth Economics.”
Earth Economics Program Director Rowan Schmidt had the pleasure of speaking with KUOW radio host Bill Radke about the potential impact of climate risk on the creditworthiness of Seattle and other cities and agencies around the nation.
Quick Fact: Municipal bonds used to finance 2/3 of local infrastructure in the United States, including water supply, wastewater, and schools. A government agency's credit score determines its interest rate for the bond, and climate resilience is becoming a factor in credit scores. So more climate resilient agencies may soon be rewarded with a lower cost of borrowing.