"How is Climate Change Affecting Cities' Credit Scores?" Earth Economics sits down with KUOW

“How is Climate Change Affecting Cities’ Credit Scores?” Earth Economics sits down with Bill Radke on KUOW 94.9fm

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“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.”

— The Record with Bill Radke

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.

Earth Economics cited in article, "In Peoria, Green Infrastructure as a Path to Social Equity."

EARTH ECONOMICS CITED in ARTICLE, In Peoria, Green Infrastructure As a Path to Social Equity

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“In the summer of 2018, one of the country’s first stormwater farms opened in Peoria, Illinois. It was complete with 126 hybrid poplar trees, a 3,000-square-foot floriculture space and 100 agricultural planter beds — all designed to capture water runoff from a 1.55-acre area, to prevent an estimated 1.3 million gallons of stormwater from entering the city’s combined sewer system each year.”

— In Peoria, Green Infrastructure As a Path to Social Equity

In Fall of 2019 Earth Economics’ research team provided an analysis for The Well Farm Project on the economic contribution to the estimated value of nature-based solutions in Peoria, Illinois.

“We have a technical challenge we’re trying to solve, but our proposal is about how we use a solution to a technical challenge to address more adaptive challenges of social and economic inequality,” stated Anthony Corso, Peoria’s chief innovation officer. The city’s response was to begin implementing pilot projects, starting in 2017 and onward. “Another pilot — and the one that has earned the most attention — is the Well Farm at Voris Field, also on the South Side. The city partnered with Greenprint Partners, a green infrastructure “delivery partner,” to transform a vacant city-owned lot into a lush garden that captures stormwater runoff while growing harvestable timber and vegetables. An impact report by Earth Economics found the farm’s generated $2.8 million dollars in economic output in the county, 29 full-time equivalent jobs,and $1.5 dollars in economic activity in the county for every $1 invested.”

Through the analysis, it was also found that:

• The Well Farm project will capture more than 3000 lbs of harmful air pollutants over the next 30 years, and save more than $8,000 in public health expenses. This is especially crucial because the Well Farm site is located in a neighborhood with some of the highest air pollution levels in the city.

• The poplar trees on site will sequester more than 840 metric tons of CO2 over the next 30 years. Scaled across the city, these type of installations could sequester 42,000 metrics ton of CO2.

• The site will capture 1.3 million gallons of stormwater per year, saving at least $197,340 in stormwater costs over the next 30 years. Scaled across the city these sites could capture more than 65 million gallons of stormwater annually and save nearly $10 million dollars in stormwater costs over the next 30 years.

Earth Economic’s analysis on regenerative agriculture cited in online publications

Earth Economic’s analysis on regenerative agriculture cited in online publications

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Earth Economics had the honor & opportunity to contribute to Agriculture Capital’s 2019 Impact Report: Regenerative Food The Value of Scale in the section, Regenerative Agriculture Builds Thriving Soil.

GlobalAgInvesting.com cited our contribution to the impact report in their October 2019 article, Agriculture Capital Releases 2019 Impact Report Demonstrating Positive Impact of its Regenerative Practices, stating, “Using data sourced during 2018, Tacoma, Washington-based Earth Economics completed a limited scope evaluation of key regenerative practices including cover cropping, no-till hedgerow planting, and natural area protection on three of Agriculture Capital’s farms, quantifying and projecting a net present value in ecosystem services totaling in the millions of dollars over the next decade in the form of soil health, water quality, and pest control.”

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Agriculture Capital Releases 2019 Impact Report Demonstrating Positive Impact of its Regenerative Practices. GlobalAgInvesting.com, October 2019.

Agriculture Capital’s Impact Report reveals positive impact of regenerative management practices. Refrigeratedfrozenfood.com, October 2019.

Seattle Times Cites Earth Economics Whale Watching Study in Call for Public Opinion

Seattle Times Cites Earth Economics
Whale Watching Study in Call for Public Opinion

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“Whale watching is big business, according to a 2019 study by Earth Economics. The study found whale watching participants who whale watch from boat-based tours or from terrestrial viewing points in San Juan County support over $216 million worth of economic activity in the Puget Sound region every year. This activity generates more than $12 million in state and local tax revenue annually and supports over 1,800 jobs, according to the study.”

— Seattle Times

Earth Economics was cited Seattle Times article,
Federal government wants your opinion on whale-watching rules to protect orcas

Earth Economics’ research on the economic contribution the estimated value of whale watching in San Juan County, Washington. The analysis focuses on boat- and land-based whale watching in San Juan County, the heart of Washington’s whale watching economy, but calculates the benefits to the entire Puget Sound Region. The report, The Whales in Our Waters, estimates that threats to the recovery of the Southern Resident Killer Whale (SRKW) population present an economic risk of $34 million in annual economic activity, $2.2 million in state and local tax revenue, and 330 jobs.

The Seattle Times article calls on public opinion to weigh in on current and potentially new whale watching regulations surrounding the SRKW population. Depleted Chinook salmon stocks, vessel-related noise and disturbance, and increasingly polluted waters continue to put challenges on the SRKW population. The SRKW is an endangered species with a current population of only 73.

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Earth Economics cited in Seattle Times article on the EPA

Earth Economics cited in Seattle Times article on the Environmental Protection Agency’s attack on Washingtons’ water-quality standards

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“Puget Sound and its ecosystems contribute up to $83 billion to the regional economy each year. If we were to treat the Puget Sound basin as an economic asset, its value would be a minimum of $243 billion, according to Earth Economics, a nonpartisan, nonprofit organization. Framed in this way, assets extend far beyond the fishing industry and include natural assets, such as wetlands, rivers and forests, and goods such as timber and water.”

— Hands Off EPA: Leave Washington's Water Quality Standards Alone

Earth Economics Presents Urban Green Infrastructure Lab to Boston Metro Area

Earth Economics Presented
Urban Green Infrastructure Lab to Boston Metro Area

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“Green infrastructure is a cost-efficient mechanism to manage runoff that also serves to cool cities, prevent urban heat islands, mitigate air pollution caused by excessive vehicle emissions, and beautify neighborhoods.”

— Metropolitan Area Planning Council (MAPC)

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This year, Earth Economics is bringing together leaders from eight communities across the U.S. to discuss green infrastructure, the funding and financing tools that can help speed adoption at scale of nature-based solutions that increase urban resilience. Workshop participants will hear from industry leaders, with, dive into real-world case studies, and take home a wealth of resources and tools designed to help communities explore and implement their own green infrastructure opportunities.

One such workshop was held over a full day in the Boston metro area, with the Metropolitan Area Planning Council (MAPC) and other community leaders in attendance. Read MAPC’s recent blog post recapping the experience, A Vision for Green Infrastructure in the Region, which highlights the green infrastructure needs, barriers, and opportunities of the Boston metro area. 

Minneapolis Star Tribune cites Earth Economics' Research on the Economics of Displacement in Little Haiti

Minneapolis Star Tribune cites Earth Economics' Research on the Economics of Displacement in Little Haiti

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“As the impacts of sea-level rise intensify and developers look to higher ground to build new projects, Miami’s low-income communities of color are at risk of displacement, particularly to climate-vulnerable neighborhoods.”

— A Snapshot of Potential Environmental and Social Costs of the Proposed Little Haiti Development, Earth Economics

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The Magic City Innovation District (“Magic City”) is a seventeen-acre development slated to be built in the Little Haiti neighborhood of Miami. While the development may attract additional investment and benefits for new residents and businesses that move to the area, there is growing concern about the potential negative environmental and social impacts of the project, including economic displacement of residents who have historically resided and worked in Little Haiti, the majority of whom are low-income families of color.

The Minneapolis Star Tribune article states, “Earth Economics conducted an analysis of Magic City Innovation District's effect on the neighborhood, confirming that more than 3,000 households could be pushed out, with some experiencing a period of homelessness. The group estimates these families would collectively pay over $68 million in relocation expenses.”

Miami Beach Times cites Earth Economics Report on the Economic Value of Rehydrating Coastal Wetlands in Biscayne Bay

Miami Beach Times cites Earth Economics
Report on the Economic Value of Rehydrating
Coastal Wetlands in Biscayne Bay

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Earth Economics’ recent research on the economic value of rehydrated wetlands in Miami, Florida was recently cited by the Miami Beach Times. The report, Restoring Biscayne Bay, estimates that healthy rehydrated wetlands are worth more than $3.3 billion in ecosystem goods and services.

The article details how Biscayne Bay, the largest estuary on the coast of southeast Florida, connects the Bay’s overall health with Miami’s coastal resiliency. Miami Waterkeeper commented that, “Building resilience includes, but isn’t limited to, increasing protection from storms, ensuring reliable drinking water, enabling continued recreational and commercial fishing, and buffering sea level rise.”

In 2017 The Florida Department of Environmental Protection declared the Bay as an ‘impaired waterbody’ due to high nitrogen levels. The city of Miami has been identified as releasing particulate debris into the Bay - which is contributing to the devastation of seagrass and mangrove habitat. In April the County Department of Environmental Resource Management implemented a deadline to create a correction plan.

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Miami Waterkeeper presented their study at the Deering Estate on June 7th, which values the Biscayne Bay at over $3.3 billion, photo courtesy of Miami Waterkeeper.

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