Growing Returns

Selected tag(s): virginia flood

Virginia must stay in the Regional Greenhouse Gas Initiative to successfully address its flood crisis.

In 2020, Virginia made history as the first southern state to join the Regional Greenhouse Gas Initiative (RGGI), a highly successful, multistate carbon emissions cap-and-invest program for the electricity sector.

In its first year, the commonwealth netted $228 million through auction proceeds, with half going toward low-income energy efficiency and weatherization programs and 45% dedicated to Virginia’s statewide Community Flood Preparedness Fund. The fund has made tens of millions of dollars available for local governments and tribes to build capacity, plan and implement flood resilience projects.

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Virginia Beach’s new flood bond can be a model for other cities. Here’s how.

Virginia Beach, the most populous city in the commonwealth with 38 miles of shoreline, faces increasing flood risk due to rising sea levels and more intense storms. Recurrent flooding hurts critical sectors including the military and tourism, both major contributors to the local economy. 

Fortunately, Virginia Beach voters took an important step to reduce flood risk in their community by passing a historic $567.5 million flood mitigation bond last month. This funding will not only reduce the city’s flood risk — it will also boost the economy and create thousands of jobs. 

As other cities across the country grapple with how to pay for the increasing costs of flood protection projects, here are four ways this bond serves as a model for success.  Read More »

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3 ways Virginia can continue to advance flood resilience statewide

Virginians are already seeing the impacts of climate change, from sea level rise along our coastlines to increased rainfall statewide. Without action, Virginians can expect $4.1 billion in annual losses to residential, commercial and public structures by 2080, with 171,000  acres of tidal marsh at risk of disappearing.

To better understand this risk, EDF worked with Virginia Conservation Network partners to release a policy paper that outlines Virginia’s flood risk and presents opportunities to build resilience.

Additionally, the Virginia Academy of Science, Engineering and Medicine recently released a report analyzing climate change impacts on Virginia’s coastal areas and offering specific ways to address them.

The sentiment of these two analyses is the same: Climate change is here, and we must act quickly to build resilience for our communities.

Here are three of the top recommendations for state leaders to take an equitable and comprehensive approach to flood resilience to protect Virginia’s communities, ecosystems, infrastructure and economy.

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Virginia is taking bold climate action to address flood risk across the state

Climate change poses a significant threat to Virginia’s communities, infrastructure and economy. The state has the highest rates of sea level rise on the Atlantic seaboard with more than 34,000 buildings and 534 square miles of coastal land at risk of flooding by 2060, while more intense rainfall is also increasing flood risk statewide. 

Virginia’s state leadership is moving diligently to mitigate current and future flood threats by funding and implementing risk reduction and resilience projects across the commonwealth. 

Here’s how the state is tackling its flood risk problem with thoughtful planning and long-term funding.  Read More »

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