Deanna Moran

Too often when developers fail to prepare for climate change, taxpayers are called upon to bail them out when the inevitable damage happens. But now it seems that cities across Massachusetts and even the state could increasingly be on the hook financially if they don’t take substantive steps to plan for these changes.

The latest to issue a wakeup call is Moody’s Investor Services Inc., which warned that cities and states risk having their credit downgraded because of the financial perils associated with climate change. In a new report, Moody’s outlines how it will assess a variety of credit risks facing communities due to short-term climate-related events including droughts, major storms and extreme precipitation, and longer-term threats related to rising sea levels and temperatures. Moody’s is considering the financial risks of loans to entities that are not preparing for these eventualities.

The good news is that Massachusetts and many of its communities are thinking about what they need to do meet climate-related challenges. The commonwealth’s Municipal Vulnerability Preparedness program awards grants to communities so they can access technical support, climate change data and other tools to improve resiliency. And Boston launched Climate Ready Boston, an ongoing initiative to help the city prepare for climate change.

Historic flooding last month in the Seaport and Long Wharf (pictured) should serve as a wakeup call.
Photo by John Centrino | Shutterstock

Despite these positive steps, much more can and should be done at the city and state level to protect our shores and create more resilient infrastructure. There is an inconsistency that varies greatly from project to project and even neighborhood to neighborhood that creates financial risk for the commonwealth. Part of the challenge is that many of the climate-preparedness recommendations outlined in reports by cities like Boston are just that – recommendations, not requirements. And for neighborhoods like the Seaport, that can be disastrous.

While the new GE headquarters and Wynn casino are factoring climate change into their design plans, too many coastal projects recently built and even some under construction are not designed to withstand the moderate to extreme events of today, let alone a decade or two from now. The lack of climate-smart design standards and regulations in Massachusetts are partly to blame.

We need to look to the future – not the past – when it comes to design and construction. But too often we rely on historical data to guide long-term planning and land use decisions. These old figures are no longer adequate in the face of higher temperatures, rising seas levels and severe storm surge. Many of our existing regulatory tools are also in need of revamping. For instance, Chapter 91 – the regulations governing the state’s harbors and other public waterways – currently do not account for climate change. Even the state building code presents challenges for climate adaptation.

As climate change becomes more of a reality, the impact on public health and safety will be severe. The flooding and historic tide that occurred during the January snowstorm should be a wakeup call. But the potential economic costs should also create new financial incentives for cities and the commonwealth to take action to prepare now.

Deanna Moran is the director of environmental planning at Conservation Law Foundation.