投资者认为他们可以赚钱，从而降低野火风险。加利福尼亚州尤巴的一个森林修复项目将这个想法付诸实践。

尤巴水局（YWA）为北加州社区提供水，洪水控制和水力发电，以及加利福尼亚州各地的城市和农场的水。国家水项目。

For the agency and everyone they serve, wildfires are bad news. In addition to endangering YWA's workers and customers, sediment from a wildfire could clog the agency's reservoir, damaging its infrastructure and increasing operating costs.

野火的数量，规模和强度越来越高throughout California。最近在西部爆发了大火门多西诺并到达东南Yosemite。YWA不禁要问他们的流域是否是下一个。

在全国范围内，从公用事业到运输部门再到水依赖公司的相关团体都想知道他们可以采取什么措施来降低容易发生火灾地区的野火风险。这些实体可能很快希望Yuba了解降低融资风险的开创性方法：本周，项目开发人员Blue Forest Conservation（BFC）和世界资源必威官网手机版研究所通过有史以来第一个森林弹性债券（FRB）巩固了460万美元的森林修复项目的资金。

The FRB is aninnovative financing tool这筹集了私人资本来资助诸如森林恢复等干预措施，以减少火灾的机会。投资者提供资金来资助项目实施。从恢复中受益的利益相关者（Fewer射击意味着较低的成本）随着时间的推移使投资者重组。

In Yuba, the FRB helps to ameliorate concerns about fire during one of California'sworst fire seasons有记录。恢复15,000英亩Yuba流域的土地的活动，包括为薄树和透明刷子做准备的活动。作为首届FRB项目，Yuba飞行员不仅会在当地降低火灾风险，还可以测试将FRB扩展到有火灾风险的其他景观的可行性。

火的费用

While Yuba has managed to escape the impacts of large-scale fire to date, the risk of future catastrophic fire is among the highest in the western United States. The Tahoe National Forest, which supplies and filters the water that makes its way to Yuba County, is dangerously full of dry, overgrown and dead trees—the result of a changing climate and a legacy of wildfire suppression. Fire risk has tripled in this area over the last eight years, a startling and dangerous trendline that suggests a severe fire is a matter of when, not if.

The impacts of even a small fire in Yuba would likely extend for hundreds of miles, and the costs of response and recovery would fall on many shoulders. The Forest Service pays for a majority of firefighting costs and post-fire stabilization and the state Department of Transportation has to pay to clear debris from roads and bridges. Woody debris and ash make their way into reservoirs, clogging hydroelectric plants and driving up costs for electrical utilities. Sediment, soot and fire retardant cause major water quality issues for water companies. Industries that use forested areas or forest products—from ski lodges to papermills—lose revenue. And of course, human lives and property are put at risk.

森林服务局，公用事业和州政府等利益相关者对避免严重的野火有兴趣，不仅是为了公共利益和森林健康，而且因为有一个令人信服的商业案例。但是，每个小组都缺乏仅解决此问题的能力和资源。森林弹性纽带首次为各种演员组合在一起，以减少可能伤害所有人的灾难性火灾的风险。

Who Invests, and Who Benefits

In the face of these challenges the FRB provides a mechanism for those who benefit from forest restoration to share the cost of paying for it. By utilizing private capital from investors to pay for restoration upfront, the FRB rapidly lowers the risk of catastrophic wildfire. Then, land managers (like the Forest Service), state agencies and other beneficiaries pay back investors over time as the risk of fire to their infrastructure, communities, and bottom lines is reduced. Investors earn a return, wildfire risk is reduced, and multiple stakeholders benefit from a healthier forest and community—everybody wins.

Investments in the Yuba pilot came from the Rockefeller Foundation, Gordon & Betty Moore Foundation, Calvert Impact Capital and CSAA Insurance, each of which is investing for its own reasons. In addition to the promise of a return, the mission-focused foundations are investing with the knowledge that this project will boost public and forest health. Calvert, an impact investing leader focused on triple bottom line returns, is drawn to the joint promise of a competitive return and positive impact. As a AAA insurer offering insurance to members in Northern California, CSAA sees investing in the FRB as a way to diversify its portfolio while supporting the communities in which it operates.

两名受益人（YWA和加利福尼亚州）将随着时间的推移报销私人投资者。YWA已承诺150万美元，该州将提供260万美元的可偿还赠款资金。塔霍国家森林将提供实物的支持和服务，并提供与计划和允许该项目相关的所有资源。国家森林基金会将成为该项目的主要实施合作伙伴之一，领导着当地的大部分森林修复工作。

The Future of the Forest Resilience Bond

野火危及整个美国西部的环境，经济和健康。为了避免将来的灾难性大火，我们需要转向创新的伙伴关系，例如FRB，以支付易于火灾西部的森林健康干预措施。尤巴（Yuba）的FRB飞行员是动员在美国与野火作斗争的第一个情况，但是在来年，有超过5000万英亩的国家森林土地有燃烧的风险，我们将需要更多新的新这样的想法。