Solutions For RealSolutions For Real
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

How An Economist Thinks About “Trump Accounts”

July 16, 2025

Judge’s Rule Reversal Means Medical Debt Could Impact Your Credit Report

July 16, 2025

What the New Tax Law Changes for Slot Machine Players

July 16, 2025
Facebook Twitter Instagram
Trending
  • How An Economist Thinks About “Trump Accounts”
  • Judge’s Rule Reversal Means Medical Debt Could Impact Your Credit Report
  • What the New Tax Law Changes for Slot Machine Players
  • 9 Long-Held Traditions That Are Quietly Wrecking Family Finances
  • Why Skipping This One PR Move Could Stall Your Startup’s Growth Before It Even Begins Doing PR is critical for startups, yet many entrepreneurs are so busy developing their product that they forget to make a media plan.
  • Your Brand Isn’t Broken — Your PR Strategy Is. Here’s What to Do Instead
  • Perplexity CEO: AI Coding Tools Transformed the Way We Work
  • 5 Tips For When It Is Time To Quit
Wednesday, July 16
Facebook Twitter Instagram
Solutions For RealSolutions For Real
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
Solutions For RealSolutions For Real
Home » Climate Change Worsens Natural Disasters Alongside Racial Inequality
Retirement

Climate Change Worsens Natural Disasters Alongside Racial Inequality

News RoomBy News RoomAugust 17, 20230 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

Another summer, another stark reminder of the reality of climate change. Wildfires on Maui caused widespread destruction and the highest death toll in more than 140 years. The southern US buckled under a brutal and historic heat wave. Flash floods inundated Vermont and other northern states. And, hurricane season has only begun, potentially fueled by record high ocean temperatures in the Gulf of Mexico. Nature sends almost daily reminders that climate change is real and that it takes a severe toll on people, their livelihoods and their lives.

The burden of climate change and the associated natural disasters that have become more common and more severe is unevenly felt. Black and Latino families, for example, are much more likely to be displaced by natural disasters – hurricanes, floods, fires, tornadoes and other events such as extreme cold or heat — than white families. And, when they have to leave their home, the impact from that displacement is much more severe for Black and Latino families as well as many families of other and multiple races than for white families. There is no doubt that climate change exacerbates existing racial and ethnic inequalities.

The U.S. Census has collected information on the financial, health and housing situation of households since the start of the pandemic with its Household Pulse Survey. For the past six months, this survey has also asked people whether they have been displaced by a natural disaster – an extreme impact of climate change. On average, 1.5% of people over the first six months of 2023 said that they had been displaced in the prior twelve months. Yet, that share was 1.8% for Latinos, 2.4% for Black people and 2.3% for people of other or multiple races and ethnicities. Put differently, there would have been 236,000 fewer Black displaced people in June 2023 if they had the same likelihood of displacement as white families. Hundreds of thousands more Black and Latino people as well as people of other and multiple races felt the extreme effects of climate change due to pervasive racial and ethnic inequities.

It is not just that the likelihood of being impacted by natural disasters is greater for many people of color. The consequences of being displaced are also more severe. For example, 21.8% of Latinos, 28.7% of people of other or multiple race and ethnicities and 15.1% of Black people never returned to their homes, while this was the case for 12.1% of white people. And, Black people and Latinos as well as adults of other or multiple races and ethnicities were vastly more likely to experience food shortages, lack of water and unsanitary conditions, among other effects of displacement, than was the case for white adults (see Figure below). Not only is the chance of being displaced almost twice as high for Black people, for instance, but so is the chance of suffering from food shortages and a lack of water, when they are displaced, as compared to white people. As is the case in many other parts of everyday life, Black people, Latinos and people of other and multiple races face massive additional costs compared to white adults when disaster strikes.

Systematically lower incomes are likely an important factor, though not the only one, that make it more difficult to weather an emergency. Having sufficient incomes pay for things such as transportation and new housing when being displaced by a natural disaster. People with less income then face more dire consequences.

But, that is not the whole story. For example, Black people in households with incomes from $35,000 to $99,999 had a higher chance of facing food shortages – 53.8% — than white people in households with incomes of less than $35,000 – 45.9%.

Another important aspect then is the fact that Black households, and people of other races and ethnicities, are much less likely to have emergency savings than is the case for white households. After all natural disasters are not the only part of life that takes a larger financial toll on Black and Latino families as well as on families of other and multiple races. These additional costs from greater and more widespread risk exposure, for instance, in the labor market and in health care, make it much harder to put money away. Black people, Latinos and those of other or multiple races then are much more vulnerable when disaster strikes again.

My colleague Justin Dorazio also points out that public assistance in the event of a disaster is unevenly distributed by race and ethnicity. He cites several studies that show that Black survivors of natural disasters receive less government assistance from the Federal Emergency Management Agency (FEMA) than white survivors, even when the losses and damages from a disaster are comparable to each other. This puts greater strains on the wealth of Black households when they are affected by a natural disaster, even as that wealth is already much lower than that of white households.

In the end, the experience of Black and Latino households as well as those of other and multiple races reflects experiences in other areas of life such as the labor market and health care. They have greater needs for savings because of structural discrimination, but they have a lot fewer savings in large part because of the pervasiveness of the impact of said structural discrimination.

The uneven experiences in natural disasters by race and ethnicity – greater likelihood of being displaced and higher costs associated with displacement – are then a stark reminder that policy needs to address the differences in costs of disasters and in wealth. Tackling the costs here means both addressing the underlying causes of climate change and its differential impact by race and ethnicity. And, countering the uneven distribution of wealth means helping Black and Latino households as well as households of other or multiple races and ethnicities to build wealth faster. It also means to take a race conscious approach to disaster recovery. Justin Dorazio, for example, provides several clear steps to reduce the racial and ethnic disparities in FEMA’s response to natural disasters, ranging from reducing paperwork hurdles when applying and receiving assistance to prioritizing investments in vulnerable communities in order to increase climate resilience there. Climate change and its effects are a reality of our lives. It also has starkly different effects by race and ethnicity. Policymakers must take an equity-oriented approach to addressing and mitigating climate disasters.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

How An Economist Thinks About “Trump Accounts”

Retirement July 16, 2025

5 Tips For When It Is Time To Quit

Retirement July 15, 2025

Charitable Planning After The Big Beautiful Bill (OBBBA) Is Different

Retirement July 14, 2025

What Retirees Need To Know About Social Security’s Funding Deficit

Retirement July 13, 2025

The Real Currency Of Life, According To Naval Ravikant

Retirement July 12, 2025

Social Security & The Big Beautiful Bill

Retirement July 11, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

Judge’s Rule Reversal Means Medical Debt Could Impact Your Credit Report

July 16, 20250 Views

What the New Tax Law Changes for Slot Machine Players

July 16, 20250 Views

9 Long-Held Traditions That Are Quietly Wrecking Family Finances

July 16, 20250 Views

Why Skipping This One PR Move Could Stall Your Startup’s Growth Before It Even Begins Doing PR is critical for startups, yet many entrepreneurs are so busy developing their product that they forget to make a media plan.

July 16, 20250 Views
Don't Miss

Your Brand Isn’t Broken — Your PR Strategy Is. Here’s What to Do Instead

By News RoomJuly 16, 2025

Entrepreneur It’s 2025, and the business landscape is more crowded than ever. In almost every…

Perplexity CEO: AI Coding Tools Transformed the Way We Work

July 16, 2025

5 Tips For When It Is Time To Quit

July 15, 2025

This Is What 1% Interest Rates Would Mean for Your Money

July 15, 2025
About Us
About Us

Your number 1 source for the latest finance, making money, saving money and budgeting. follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]

Our Picks

How An Economist Thinks About “Trump Accounts”

July 16, 2025

Judge’s Rule Reversal Means Medical Debt Could Impact Your Credit Report

July 16, 2025

What the New Tax Law Changes for Slot Machine Players

July 16, 2025
Most Popular

Allstate Takes New Approach to Return-to-Office: Coworking

November 19, 20243 Views

51 Reasons I Won’t Lend Money to Friends and Family

August 6, 20231 Views

Memorable Stories, Feuds, and Rumors That Made Ed Sullivan …

August 5, 20231 Views
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 Solutions For Real. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.