As climate change adaptation plans kick off around the world, and New Zealand slowly catches up, it is good to hear of some innovative solutions being piloted for coastal communities.
This report describes the use of environmental impact bonds, which can be used to help coastal communities become resilient more quickly, by engaging the private sector and generating financial return for investors.
The idea is being tested in Louisiana, which, like New Zealand, is dealing with the threat of future sea level rise and related issues. The report highlighted the role of environmental impact bonds to restore the coast faster and for less money, while involving local asset owners in voluntarily helping pay for projects that realise superior reduction in land loss.
If implemented, it would be the first ever-environmental impact bond for wetland restoration and would help Louisiana be a world leader in coastal resilience financing.
Come on New Zealand, let’s start thinking outside the box.
Environmental impact bonds will be a vital tool in the coastal restoration and resiliency toolbox...Link to report >