Resilience Challenge Enters Key Phase
As the Bay Area Council nears an important milestone in its ambitious California Resilience Challenge, a new study by Zillow Research shows just what’s at stake in addressing the coming impacts of climate change. The research released this week estimated that rising sea levels will put $50 billion worth of Bay Area real estate at risk of flooding during even minor storm events. It comes as the Council completes fundraising for the California Resilience Challenge, a statewide effort to raise funds from business, utilities, and philanthropy to support climate adaptation planning across California. The Challenge has attracted the support of a broad array of stakeholders, and is seeking to invite public entities across the state to submit project proposals for grant support through an RFP release this Fall.
In 2015, the Bay Area Council Economic Institute estimated the region was vulnerable to over $10 billion in damages during a 150-year storm event under current sea levels. The following year, the Bay Area Council co-chaired the regional Measure AA campaign, which, with the support of over 70 percent of Bay Area voters, raises $500 million over 25 years for wetland restoration and flood protection projects in the SF Bay. To learn more about the California Resilience Challenge, please contact Vice President Adrian Covert.