Aspen is a place for leaders to lift their sights above the possessions which possess them. To confront their own nature as human beings, to regain control over their own humanity by becoming more self-aware, more self-correcting, and hence more self-fulfilling.
Approximately 53% of all U.S. counties face elevated exposure to at least one climate hazard of flooding, wildfire, or extreme heat. As extreme weather events and natural disasters become more frequent and widespread nationwide, families must cope with recurring financial shocks that chip away at their financial security and erode their ability to build and sustain wealth, especially in the face of future climate hazards. Families may face financial instability without personal resources and additional support such as insurance and government assistance to remain resilient in the face of these financial shocks.
Drawing upon the research literature and over 30 experts from the public, private, and nonprofit sectors, Aspen FSP has created this brief to better understand how climate stressors (such as extreme heat) and climate disasters (such as floods) affect household financial security. It demonstrates how climate stressors and disasters can create direct and indirect financial disruptions for families who turn to financial safeguards before, during, and after a climate hazard to protect and recover their finances. However, current safeguards are not necessarily designed to allow a household to be better off after a climate hazard—or be sufficiently prepared for the next one. With each subsequent disaster, households are likely to become worse off. Policymakers, climate leaders and advocates, and financial security experts and practitioners can use this brief to develop solutions addressing the dual pressures of climate impacts and financial insecurity.
As part of our essential wealth metric project, Aspen FSP has collaborated closely with our partners at Gary Community Ventures to look specifically at the wealth of Coloradans.
This case study from Gary Community Ventures and Aspen FSP explores the design, policy, and financing tools that made the Colorado Tenant Equity Vehicle (TEV) possible.
Aspen FSP Fellow Devin Murphy is committed to growing models of wealth building so that all U.S. families can thrive. Learn more about his work in this Q&A.
Attaining a baseline of security, mobility, and well-being requires wealth. But exactly how much is needed? This brief aims to offer a path toward greater empirical understanding of what constitutes essential wealth and how to measure it.
Households need tools that help them afford everyday life and build long-term security. Too often, policy systems fail to respond to both of these needs and instead prioritize one goal over the other.
