Extreme Weather Resiliency
Sustainability Thickness Score
Newtown Creek Wastewater Treatment Plant, Brooklyn, New York. © NYC DEP
New York City Public Infrastructure Resiliency Plan
New York City developed one of the highest quality plans for creating resiliency to extreme weather and the changing climate. In 2011, Tropical Storms Irene and Lee hit New York City within two weeks of each other. In 2012, Hurricane Sandy hit New York City resulting in the deaths of 44 City residents and inflicted an estimated $19 billion in damages and lost economic activity across the New York City, in part because utility infrastructure failed. In 2013, New York City launched its Wastewater Resiliency Plan to provide a roadmap to enhance the flood resiliency of wastewater infrastructure and prepare for future extreme climate events.
ENTITY:
New York City Municipal Water Finance Authority
Water and Sewer System
ATTRIBUTES:
Many projects such as building additional water storage, building redundant tunnel systems, building coastal protection barriers, eliminating leaks, and elevating and protecting mission-critical equipment.
SUSTAINABILITY GOALS:
- Identify vulnerability to flooding from extreme weather.
- Update flash flood response procedures and prioritize response to vulnerable areas.
- Create policies and implement projects that reduce urban flooding and impair utilities.
- Conduct research to reduce future risk.
SUSTAINABILITY ACTIONS:
- Construct high level storm sewers to reduce flooding.
- Expand Bluebelts to Queens and the Bronx.
- Construct 10,000 distributed green infrastructure projects.
- Offer incentives to private property owners to invest in green infrastructure.
BENEFIT/ COST:
Strongly positive
SCALABLE:
Yes
Wards Island Wastewater Treatment Plant, Manhattan, NY © NYC DEP
Hunts Point Wastewater Treatment Plant © NYC DEP
Staten Island Bluebelt © NYC DEP
Thickness Score
Natural Capital Benefits
Sustainability Thickness Score
New York City, along with several local and state agencies, created stormwater flood maps, completed coast protection projects, examined resiliency solutions for the New York Harbor, and funded resiliency projects on Staten Island and in Queens.
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The plan outlines recommended design standards for every specific infrastructure that is at risk of future floods. Established a critical floodplain with a projected sea level rise of 30 inches. Addressed heat risks by creating the New York City CoolRoofs program.
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New York City is creating new high-level storm sewers, fixing leaks in the tunnel that carries 50% of New York City’s water, revising engineering designs for wastewater facilities to adjust for increases in sea level rise and storm intensity.
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New York City has over 10,000 distributed green infrastructure projects underway. Providing private property incentives for green infrastructure. Developing resources to expand flood-risk awareness, flood-insurance uptake, and resiliency retrofits citywide.
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Investment Attributes
Coupon:
5.00%
Maturity:
6/15/2027
Security:
First lien on revenues of the Water System
Ratings:
Aa1/AA+
Sector:
Integration, Adaptability, Robustness, Resourcefulness
Additional Info
Hurricane Sandy flooding area © NYC DEP
Hurricane Sandy flooding area © NYC DEP
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