New York City Mayor Michael Bloomberg unveiled his long-awaited proposal today, June 11, on how to improve the city's resiliency in extreme weather events, like Superstorm Sandy, and better guard against the effects of climate change. The plan would require a hefty long-term investment of $19.5 billion, although, about $10 billion of this is already covered via Sandy-related federal relief funds and the city's ongoing capital program, Bloomberg says.
"Because of the scale of the challenge posed by climate change, even a tailored plan scaled to available resources brings with it a significant price tag that will need to be borne by the public," the report says.