Community Resilience: Climate Adaptation and the Community Reinvestment Act (CRA) [August 20, 2021] [open pdf - 692KB]
From the Document: "In response to the increased frequency and severity of disasters that the scientific community has linked to climate change, Congress and federal agencies have sought to minimize risk through resilience investments. [...] The federal government uses a variety of tools-- including grants, loans, and tax incentives--to promote community and economic development, which includes investments that may address the risks [hyperlink] of climate change and promote climate-related community resilience. One tool designed to address credit availability may have the ancillary benefit of promoting climate resilience. The Community Reinvestment Act (CRA) is used to incentivize banks to make certain loans and community investments in low- and moderate-income (LMI) neighborhoods. Given how the CRA is currently implemented, it may result in some amount of those loans and investments going to projects that increase climate resilience. This Insight considers how the CRA can encourage bank lending to climate related resilience investments."
CRS Insight, IN11727
Congressional Research Service: https://crsreports.congress.gov/