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Posts Tagged ‘credit’

BY BRADFORD MCKEE

FROM THE FEBRUARY 2018 ISSUE OF LANDSCAPE ARCHITECTURE MAGAZINE.

Image by Jocelyn Augustino [Public domain], via Wikimedia Commons.

In November, Moody’s Investors Service, the bond rating agency, released a cautionary report on climate change. Looking ahead, the report said, the effects of what it describes as climate trends and climate shocks are sure to become a “growing negative credit factor” for states, localities, or utilities that don’t appear to be responding to potential climate change effects through mitigation or adaptation. Cities and others issue bonds to borrow money for building things such as infrastructure or schools. They need investors to know they’re a good risk. Moody’s came out to say that it has begun deciding, based on climate resilience among a matrix of other factors, whether a given risk is good or bad. “If you’re exposed,” one Moody’s analyst told Bloomberg, “we know that.”

The other of the two biggest rating agencies, Standard & Poor’s, is also keenly onto climate (it and Moody’s together run 80 percent of the bond rating business). It released a report in October to explain how municipal bond issuers will be affected by climate impacts. Like Moody’s, S&P specified two theaters of risk: the sudden extreme event, such as a hurricane, and “more gradual changes to the environment affecting land use, employment, and economic activity that support credit quality.”

This may all seem very back-office in the design world, and for now it is. It is also, critically, moving to the fore as the federal stance on climate change and its many hazards is not only in retreat but in vicious denial. Trump administration appointees, who are like drones for industry, are ordering the removal of references to climate change in agency communications. The administration is also purging our government of good-faith, (more…)

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BY KYNA RUBIN

LAMjan16_Metasequoia

The 1940s discovery in China of the dawn redwood, a living fossil, remains in shadows cast by war, political upheaval, and scholarly intrigue.

From the January 2016 issue of Landscape Architecture Magazine.

On a clear August day in 2002, Ma Jinshuang, a botanist, struck gold. At the bottom of a cabinet in a dark, moist, long-abandoned herbarium in Nanjing, perched unprotected on top of the conifer specimens, lay a barely intact cluster of twigs and needles. A rotting heap of nature, to most eyes.

But Ma had spent years finding the pile—the lone survivor of a lost series of specimens that, in 1940s China, led to the botanical find of a century: a living fossil we now call Metasequoia glyptostroboides, or dawn redwood.

Its discovery captivated the world, especially the American public, and made possible the myriad (more…)

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