NOAA and Liberty Mutual Insurance partnered to host the virtual Climate and Resilience Risk Workshop on October 5, 2021 that brought together key stakeholders such as governmental representatives, climate experts, and insurance, reinsurance, and finance industry professionals to discuss the policy landscape and explore the challenges with respect to climate data and community impacts of climate change.

Our second panel “Community Impacts of Climate Change – Are local government finances ready for what is coming?” highlighted the interconnectedness in risk financing by drawing links between the identification and pricing of climate risks and the follow-on impact on the financial ecosystem. It explored actions needed by governments and communities to absorb financial impacts particularly on key sources of municipal funding, i.e., bond prices and property taxes, and identify the coordinated actions needed to mitigate the potential impacts by strengthening resilience with a special focus on floodplain developments and natural hazards.

Moderator: Pamela Williams, Executive Director, BuildStrong Coalition
• Emily Robare, Head of ESG for Municipal Bonds, PIMCO
• Carolyn Kousky, Executive Director, Wharton Risk Center, University of Pennsylvania
• Mark Osler, NOAA Senior Advisor for Coastal Inundation and Resilience
• Serena Sowers, VP, Public Sector Solutions, Swiss Re

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