(Reuters) — The Biden administration announced on Friday it is pouring more than $3 billion into two federal programs to help communities deal with floods, wildfires, extreme heat and other problems brought on by climate change.
Funding for the Building Resilient Infrastructure and Communities program, which funds projects that protect people and infrastructure from natural hazards and the effects of climate change, will more than double to nearly $2.3 billion.
The Flood Mitigation Assistance program, which funds projects to reduce flood risk to homes and communities, will see a fivefold increase in funding to $800 million.
Part of the funding for the two Federal Emergency Management Agency programs comes from last year̵7;s bipartisan infrastructure law, with $700 million for the flood program and $200 million for BRIC. The rest comes from FEMA’s disaster relief fund.
“Chronic underinvestment in climate resilience has only made matters worse for America’s crumbling infrastructure,” FEMA Administrator Deanne Criswell said in a statement. “Unfortunately, these problems are magnified
historically underserved communities.”
Last year, in just one example of the types of disasters scientists say are being exacerbated by climate change, Hurricane Ida hit Louisiana as a Category 4 storm, killing nearly 100 people and causing an estimated $64 billion in damage.
The White House said in April that the upper range of climate change’s hit to the U.S. budget by the end of the century could amount to an annual revenue loss of 7.1%, equivalent to $2 trillion a year in today’s dollars.