Of the varied dimensions that comprise resilience, we must not ignore a basic functional level…personal financial adaptation.
No city in the United States, nor in any of the developed economic powers, is truly “resilient” unless the population is given the monetary tools to adapt to changing global conditions, trends and threats.
Much of the focus of governmental planners with regard to an altering climate has been to strengthen the “built environment.” This almost singular focus is myopic. We lose our shared social fabric if national and state governments fail to enrich our economy with 21st Century financial tools to deal with sea level rise specifically and a warmer greenhouse atmosphere generally.
For example, Washington D.C., can foster personal economic resilience in the form of new tax policies, mortgage modification programs for those impacted by rising seas and tax free adaptation savings accounts which are focused on strengthening the fiscal mesh of our communities.
In this video,"Climate Change Finance" is explained on a global and national basis. There is, however, another level of finance that needs to be promoted in the United States..."personal adapation finance." Video courtesy Governance of Climate Change Finance Team for Asia-Pacific and YouTube.
A search on the web concerning "Adaptation Finance" (AF) brings up some pretty interesting, but myopic, results.
The most prominent is a site from the World Resources Institute (WRI). It defines "Adapation Finance" as, "Reducing the vulnerability of local communities exposed to climate change by increasing the volume and effectiveness of finance directed towards adaptation."
The focus is on "national finance systems" in efforts to help vulnerable populations. The WRI engages in this field of advocacy to build capacity in national governments "to manage and channel adaptation funds to those countries that need it most."
The WRI has struggled with a precise definition of AF. In Oc...