Katrina @ 20: Capital, Climate, and Justice in the Wake of Disaster — Webinar Recap
On the 20th anniversary of Hurricane Katrina, Climate Finance Action’s Executive Director Mary Cerulli joined a powerful webinar, “Katrina at 20: Climate Capital, Injustice, and the Path Forward,” hosted by Manley Consulting Group, The Horizon Project, Hip Hop Caucus, and Majority Action. The conversation honored the lives lost and communities forever changed by Katrina while examining how climate change, capital flows, and systemic injustice continue to shape disaster recovery today.
Panelists began by reflecting on Katrina’s devastating human toll—the neighborhoods destroyed, lives lost, and communities that rebuilt against overwhelming odds. This grounding reminds us of the urgency needed to build systems that strengthen, rather than undermine, community security and resilience.
Key Insights from Mary Cerulli
Mary brought the perspective of climate finance and fiduciary responsibility, highlighting the disconnect between outdated financial models and the real risks climate change poses. She noted:
Traditional financial assessments fail to price climate risk accurately, creating systemic vulnerabilities.
This underpricing especially harms low-income communities and communities of color, who already face disproportionate impacts from climate change and disasters.
Pension funds and institutional investors must look beyond balance sheets to consider labor rights, equity, and systemic risks.
Mary also highlighted innovative solutions, including investing in insurance risk pools and community development financial institutions, as strategies to build resilience, spread risk fairly, and strengthen recovery capacity.
The webinar made clear that capital is not neutral in climate disasters—it either supports or undermines recovery. Speakers urged us to:
Demand investment strategies that prioritize labor standards, equity, and resilience.
Push for climate risk to be fully integrated into financial due diligence and disclosures.
Mobilize capital to support community-led recovery and equitable development.
Looking Forward
The session closed with a powerful reminder: memory without action is nostalgia. Hurricane Katrina’s lessons call us to act decisively to shape financial systems that protect workers, safeguard communities, and build a more just and climate-resilient future.
We are grateful to the webinar organizers and fellow panelists, Saket Soni (Resilience Force), Carolyn Naggie (Americans for Financial Reform), Stefan Coward (Hip Hop Caucus), and Renaye Manley (Center for Labor and A Just Economy and Harvard Law School) for their insights and solidarity in this critical conversation.
