Dear John,
As municipalities and other public entities face hundreds of billions of rising costs from storms, fires, and extreme weather events, Ceres today released new guidance on how state and local governments can integrate resilience planning with climate risk disclosure to address these challenges.
The report, "Leading with Transparency: Improving Climate Risk Disclosure by Municipal Governments," provides a comprehensive framework
for how public sector organizations can better inform investors on their climate risks and plans to address these risks. The report also highlights best practices from leading U.S. municipalities enhancing their climate risk reporting. | | | | | The report comes in the wake of recent climate-related municipal bond defaults and credit downgrades, including those following the Los Angeles wildfires where S&P downgraded bonds due to concerns about future climate risks. Rising sea levels, hurricanes, floods, wildfires, and extreme heat increasingly threaten municipal revenues while creating significant adaptation costs.
Forecasts predict that climate adaptation projects will drive a doubling of municipal debt issuance over the next decade, making transparent disclosure even more critical
for municipalities seeking to fund resilience investments. Download the report to learn more. | | | | | We encourage you to reach out to your city, county, or state government—and ask what they are doing to address the risk the changing climate poses to their municipal bonds. Email
them this report and express your desire to ensure that our municipalities are prepared to meet the challenges of increasing extreme weather events. You can look up the emails for your state and local officials here: www.usa.gov/elected-officials. | | | | | | 
Steven Rothstein
Managing Director,
Ceres
Accelerator for Sustainable Capital Market Systems | | | | |
Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and resilient world.    
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| | | | | Ceres is proud to receive these accolades as a reflection of our effectiveness, integrity and impact.
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