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Climate Risk Bonds: How to Finance Climate Disaster Response and Adaptation

By Daphne Wysham

On a recent visit to California where drought has reached historic proportions, President Barack Obama announced a new initiative he intends to submit to Congress: a climate resilience fund. The fund, he said, would help communities address the increasingly costly consequences of climate change, including forest fires, drought, and floods.

While such a fund is needed, it shouldn’t be the American taxpayers’ job to pay for it. A far better approach would be an idea that has been around for decades: Make the polluter pay. Making polluters pay makes sense because it makes markets more efficient by placing …read more

Source: Huffington Post Green