LTE Under Consideration: Adaptation decisions and financing adaptation increasingly essential

Re: February 19, 2023 article, “How climate change can impact your finances?”

As climate impacts accelerate, adaptation decisions and financing adaptation become increasingly essential to all communities, developed or developing countries. Property damages from hurricanes, floods, droughts, sea level rise, hail, wind, tornadoes and wildfires can devastate families when insurance companies are not able fully cover them. People with means could manage to withstand damages and even support funds that use environmental, social and governance factors. Others have to rely on government help.

Inflation Reduction Act passed by the U.S. Congress has allocated funding if our state would take necessary steps. It would expedite electrification, fund climate-smart agriculture including conservation and reduce Methane to help lower harmful emissions that intensify climate disasters impacting our finances.

We want state leaders to phase out fossil fuels subsidies and invest in clean energy instead of punishing financial institutions who support such transition. Our leaders can and should improve finances of Texans by addressing climate change.

Kalpana Sutaria

Project Manager, City of Austin and Member, Citizens Climate Lobby Austin Chapter

Submitted to the Austin American-Statesman

February 2023

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