Podcast interview: Will climate change affect municipal spending?
The Boston Fed’s Bo Zhao discusses potential weather impacts on Massachusetts town, city budgets
Will climate change affect local government spending in the coming decades?
A recent New England Public Policy Center report indicates rising temperatures are likely to increase costs for New England municipalities and ultimately taxpayers. The report is called “The Effects of Weather on Massachusetts Municipal Expenditures: Implications of Climate Change for Local Governments in New England.”
The study’s author, Federal Reserve Bank of Boston economist Bo Zhao, spoke with the Six Hundred Atlantic podcast about the potential financial impacts of climate change on Massachusetts municipal budgets. He explains how increases in temperature can lead to increases in spending, and how data from Massachusetts can help inform other states in the region. Zhao also discusses what some municipalities are already doing to prepare for climate change.
Listen to the episode above or on the episode page.