As communities recover from the devastation wrought by Hurricanes Harvey and Irma, we’ve been thinking about how we can emerge from these disasters with a renewed focus on ensuring that our cities are prepared for the future.
Our cities desperately need to strengthen their infrastructure against the increasingly devastating effects of climate change. The time is ticking to build more resilient cities, and billions of dollars of capital need to be unlocked in order to do so.
We believe that Environmental Impact Bonds (EIBs) are one option to help address our infrastructure gap and enhance the resilience of our cities. That’s why last month, in partnership with Quantified Ventures and supported by the Rockefeller Foundation, we launched the Environmental Impact Bond Challenge to give two cities the opportunity to become the first to issue publicly offered Environmental Impact Bonds.
The original deadline for proposals was September 15th. However, as the deadline approached, two hurricanes were barreling down on our southern coastline. Cities who were planning to submit proposals to the EIB Challenge had to quickly shift priorities to meet the basic needs of their residents.
Out of concern for cities who have been affected by Hurricanes Harvey and Irma, and to be fair to all applicants, we’ve extended the deadline for the EIB Challenge to September 29th. If your city is interested but feels that a longer extension is needed, please reach out to us at email@example.com and firstname.lastname@example.org.
Let’s build better, more resilient cities together – cities that are equipped to defend themselves against the devastating effects of climate change. We’re more determined than ever to do so.