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ULI Selected to manage Southeast Florida Regional Climate Compact project
November 20, 2019
ULI has been selected to manage the Southeast Florida Regional Climate Change Compact’s new project, The Business Case for Resilience for Southeast Florida
Southeast Florida is continuing to lead resilience efforts through a new regional cost-benefit analysis examining the economic impacts of sea level rise and flooding, and potential economic opportunities associated with investments in resilient infrastructure.
The study will serve as a key tool for better understanding and advancing climate adaptation efforts throughout the region.
The Business Case for Resilience for Southeast Florida will help inform:
- Recommendations for collaborative resilience planning
- Targets for economic resilience
- Potential strategies for future infrastructure investments; and
- Comprehensive evaluation of projected returns on investments of sea level rise adaptation measures
Background
The economics of sea level rise, flooding, and resilience are an essential component of encouraging continued action to address the challenges facing our community. Beyond the physical implications of rising seas, the economic implications of these impacts are an essential component of a smart cost-benefit analysis. To develop a more robust understanding of the business case for resilience, the Southeast Florida Regional Climate Compact and the Urban Land Institute will conduct a study to explore:
- The economic risk of flooding and the augmentation of that risk due to rising sea levels
- The economic benefit of resilience action as a function of risk reduction and avoided economic losses
- The economic opportunities associated with resilient investments
- Recommended strategies to incentivize and improve resilience for our community
The study will provide a springboard for future analysis by collecting economic data on revenues by sector and risk that are not currently packaged and will explore national precedents and best practices from other cities seeking to quantify the return on their investments in resilience.