According to the latest U.S. National Climate Assessment, extreme weather events cost the United States nearly $150 billion each year, disproportionately hurting poor and disadvantaged communities. These events cast a long shadow on our economic landscape. Whether it’s a wildfire in Maui, hurricanes in Florida or flooding in New York City, the impacts of these disasters ripple across multiple sectors of the economy, leaving a trail of asset devaluation and increased insurance costs.
