bookmark_borderMontgomery County Climate Change Risk Analysis

Montgomery County, Pennsylvania has released a climate change risk analysis for the county. The MONTGOMERY COUNTY CLIMATE CHANGE POTENTIAL VULNERABILITY ANALYSIS found:

Climate change is affecting the residents of Montgomery County. From record heat to intense storms, such as Hurricane Ida in 2021, Montgomery County is experiencing the impacts of climate change. Scientific studies show that our region will become increasingly hotter, and we will experience more intense and frequent storm events. Understanding the populations, places, and infrastructure that may be affected is critical for our communities as they adapt and become more resilient to climate change. To assist our stakeholders in gaining a better understanding of climate change and its effects, the Montgomery County Planning Commission (MCPC) has created the Montgomery County Climate Change Potential Vulnerability Analysis.

The Montgomery County Climate Change Potential Vulnerability Analysis is the county’s latest effort to address climate change. In 2007, Montgomery County completed Greenprint for Montgomery County: Climate Change Action Plan, a comprehensive greenhouse gas inventory along with a set of broad recommendations for action. The Montgomery County Commissioners formed the Greenhouse Gas Reduction Task Force and embraced a range of short- and mid-term greenhouse gas reduction targets. In 2015, the topic of sustainability and climate change was incorporated into the county comprehensive plan, Montco 2040: A Shared Vision. The county commissioners passed a resolution setting revised climate action goals in 2019. Most recently, the county partnered with Montgomery County municipalities to work on a Montgomery County Regional Climate Action Plan that will address the challenges highlighted in the Montgomery County Climate Change Potential Vulnerability Analysis.

Anthropological Climate Change and Pollution

bookmark_borderNew Jersey Properties at Risk to Flooding

Sea level rise is threatening the value of coastal real estate.

“Alarmingly, more than half of that (at-risk property) exposure is estimated to lie outside FEMA flood zones. That means those properties are at higher risk of being underinsured, and, therefore, the loans attached to them are at higher risk of impairment, with increased risk for the value of the related CMBS (securities).” —CFTC

“Fannie and Freddie carry about $5.6 trillion in assets, mainly home mortgages and related securities. Ultimately, taxpayers backstop the payments on loans under the agencies’ control, UCLA’s Yu explains. Their regulator, the Federal Housing Finance Agency, issued a request for information in January, in part to assess flood risks. The entities require flood insurance that might mitigate their losses only on properties inside FEMA’s poorly drawn flood zones. Coverage limits imposed by NFIP — $250,000 for the structure and $100,000 for personal property — mean many coastal homes that have coverage are grossly underinsured.” — UCLA / Is the $1 Trillion Coastal Housing Market a Future Financial Crisis?

More on Flood Insurance and Real Estate Risk

bookmark_borderWhat Climate Change Will Do to PA

“This is a wake-up call.
On our current path, Pennsylvania will soon be 5.9° F hotter and parts of our coast will be submerged in 2.1 feet of water, according to Pennsylvania Department of Environmental Protection’s climate report.
We can reduce the impacts of climate change, but we must act now.” — Governor Tom Wolf

Climate Change Index