Moody’s Warns Of Credit Impacts To Cities That Don’t Gear Up For Climate Change

The warning comes alongside new research that found human-caused global temperature increases made Harvey’s record rainfall more likely.

By Travis BubenikDecember 18, 2017 7:29 am| , , , ,

From Houston Public Media:

One of the nation’s biggest credit ratings agencies is warning about the economic consequences of climate change. It’s a timely warning for Houston: new studies have found that human-caused global temperature increases made Hurricane Harvey’s record rainfall more likely.

As we’ve reported, Moody’s Investors Service is telling cities that if they don’t do enough to plan for, say, more Harvey-like storms in the future, their credit ratings could suffer. Lower credit ratings mean a city has to pay more to borrow money for things like roads and other big projects.

Read more.