Build awareness about climate resilience opportunities as a result of the global changes in climate patterns and the melting of the polar ice caps.
About 1/4th or $22 trillion USD of the projected $90 trillion USD in infrastructure spending worldwide from 2016 to 2050 will be for climate resilience activities. This means $647 billion USD will be spent in climate resilience each year for the next 34 years. This amount is 3.3x the projected amount spent globally on digital advertising.
Establish sustainable, resilient communities to where people can move into out of flood and drought areas.
As described in A Call to Action: How to Save Millions of Lives, sustainable, resilient communities are needed to house those displaced from low-lying, coastal and drought-stricken areas and portions of the expected population growth of 1.5 billion by 2050. These resilient communities should be built on “higher elevations” with access to fresh water and food and self-sustained infrastructure like district energy, mass transit, net zero carbon use, local food sourcing, telecommunications and Internet.
Develop large-scale financing for public infrastructure and sustainable, resilient communities.
Creative ways are needed to finance these climate resilient efforts as they involve large-scale, expensive public infrastructure components. Our strategies include establishing Climate Resilience Investment Tax Credit (CR-ITC) – a tax credit on the federal and state level – to tap into private equity, promote economic development, create jobs and stimulate industry growth. An even more innovative concept would be the creation of a Climate Resilience Investment Subsidy (CRiS) Fund financed by insurance and utility companies. Such subsidies would assist property owners in making their properties resilient.
Promote Public-Private-Community Partnerships (PUPCos).
Traditional public-private partnerships or PPPS tend to focus on the financing and building aspects of “bricks and mortar” projects. We advocate for Public, Private and Community Partnerships or PuPCos to acknowledge the relationship and value of all “three” sectors. Private capital, technical capacity and development expertise promote public policy interests. Public incentives reduce financial risks and make other resources like land available. Both the private and public sectors promote the community as the end-user.
Social media and digital platforms are empowering the community to influence the market as well as influence the direction and success of a project. Private investors need more than tax credits in order to generate annual returns for as long as they keep their investment in the project.