Shalini Vajjhala and Jamie Rhodes of re:focus partners share new thinking on how they are helping communities design and finance climate resilience projects needed to protect municipalities from the physical impacts of climate change, including more intense storms, sea level rise, droughts, and wildfires. They discuss resilience bonds, an innovative financial instrument that is enabling communities to finance large-scale infrastructure projects by capturing value from the costs they avoid to create a “revenue stream” from those savings.