When Fighting Climate Change, Government Can't Go at it Alone

Public-private partnerships (P3s) are contractual agreements between a government and a private entity in which the private sector partner takes on the risks associated with the development, financing, operation, and maintenance of publicly-owned infrastructure. [...]the private partner has a strong...

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Bibliographic Details
Published in:National Real Estate Investor 2019-07
Main Author: Micovic, Andrej
Format: Article
Language:English
Subjects:
Air quality
Bridges
Business financing
Climate change
Environmental aspects
Floods
Funding
Global temperature changes
Hurricanes
Infrastructure
Infrastructure (Economics)
Roads & highways
Transportation planning
Wildfires
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Summary:Public-private partnerships (P3s) are contractual agreements between a government and a private entity in which the private sector partner takes on the risks associated with the development, financing, operation, and maintenance of publicly-owned infrastructure. [...]the private partner has a strong incentive to develop the infrastructure in a manner that will ensure its continued operation—even in the face of climate change—for the entire contractual term (typically 30 or 40 years, but an even longer term may be utilized if advantageous to the public). [...]Pennsylvania procured a world-class developer to lead the project and benefited from tremendous economies of scale by bundling its statewide assets.
ISSN:0027-9994