CoPe EAGER: Collaborative Research: Evaluating Coastal Community Resilience Bonds to Facilitate Community Recovery

本项目评估了一种新型债券的使用情况，即沿海社区恢复力债券（CCRB），这种债券有可能帮助沿海社区更快地恢复，并在灾难发生后变得更有弹性。如果有效，这种新的联系机制可以扩展到其他社区。这种新型债券将社会资产和有形基础设施整合到其开发过程中，以促进对社区复原力的投资。这种弹性纽带的两个目标是：(1)实现自然和社会系统和制度的公平恢复；(2)缩小不同类型社区之间的弹性差距。复原力债券的开发不仅包括修复社区的物理系统，还包括评估和投资，使社会机构能够及时恢复，弥补目前复原力债券的差距。作为这项研究的一部分，研究生将接受城市规划、工程和金融领域重叠的跨学科培训。为了测试这种新型纽带，研究小组考虑了密西西比州和南卡罗来纳州的两个案例研究社区，每个社区都有不同的弹性规划能力，但都确定了弹性投资的需求。具有实现这些目标和目的的选项组合的社区级建模将考虑作为参与过程的一部分确定的指标，并结合可实现的内容。通过与保险和金融行业专家的一系列访谈和咨询，将制定弹性债券定价方法。定价将与社区利益相关者讨论，以确定是否在可接受的范围内。本研究的主要成果有：(1)沿海社区复原力债券的发展不仅包括社区物理系统的修复，还提供评估和投资，使社会制度能够及时恢复，弥补了现有复原力债券的空白；(2)与社区层面模型相结合的高保真损失模型，实现基于社区需求的决策；(3)开发适应不同社区弹性投资和规划能力的沿海社区弹性债券开发方法。该奖项反映了美国国家科学基金会的法定使命，并通过使用基金会的知识价值和更广泛的影响审查标准进行评估，被认为值得支持。

This project evaluates the use of a new type of bond, a coastal community resilience bond (CCRB), that has the potential to assist coastal communities to recover more quickly and become more resilient following a disaster. If effective, this new bond mechanism can be extended to other communities. This new type of bond integrates social assets and physical infrastructure in its development to enable investment in community resilience. The two goals of this resilience bond are to: (1) achieve equitable recovery of both physical and social systems and institutions; and (2) reduce the resilience gap between different types of communities. The resilience bond development includes not only the repair of the physical systems in a community, but also valuation and investment that enable timely recovery of social institutions, bridging a gap in current disaster resilience bonds. As part of this research graduate students will receive cross-disciplinary training where the fields of urban planning, engineering, and finance overlap. To test this new type of bond, the research team considers two case study communities in Mississippi and South Carolina each having different resilience planning capacities, but both identifying needs in resilience investment. Community level modeling with a portfolio of options to achieve these goals and objectives will consider metrics identified as part of the engagement process combined with what is achievable. A resilience bond pricing methodology will be developed through a series of interviews and consultation with insurance and finance industry experts. Pricing will be discussed with community stakeholders to determine if it is within the acceptable range. The primary outcomes of this research are: (1) the development of a coastal community resilience bond which not only includes the repair of the physical systems in a community, but also provides valuation and investment to enable timely recovery of social institutions, bridging a gap in current disaster resilience bonds; (2) a high-fidelity loss model integrated with a community-level model to enable decision-making based on community needs; and (3) development of a coastal community resilience bond development methodology that is adaptive to varying capacities for resilience investment and planning in a variety of communities.This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.