The Economic Perspective 3/20/2026
- Mar 20
- 5 min read
The Latest Trending Economic, Environmental and Infrastructure News Curated for You by The Balmoral Group
The Balmoral Group provides practical, professional and precise Economics, Data Analytics, and Engineering Consulting services and is part of a globally integrated team.
Happy Friday!
Welcome back to another edition of The Economic Perspective! In the U.S., this weekend marks an exciting time as the official start of the spring season as some regions in Florida and Washington have already begun to see increased rainfall!
TBG's Valerie Seidel and Cortney Cortez attended Resilience 365 in Miami this week, engaging in important discussions on how to link resiliency investments by local governments to insurance accessibility and affordability, how municipal bond ratings are positively impacted by local government proactive investment, and how to pay for necessary and urgent resiliency improvements with a reticent public. Difficult and critical conversations with Michael Berkowitz's leadership, and vocal participation by Chief Resilience Officers, representatives from the finance and insurance sector, and entrepreneurs harnessing existing alerts technology to develop new, innovative financial instruments. Information about the conference can be found here.
Articles this week cover a wide range of topics including the Florida Keys Sanctuary Restoration Blueprint, an estuary project for Washington State's Capitol Lake, electric cars coming to Washington, and more. Our data visualization covers the mapping of heat-resilient infrastructure in cities.
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FL Keys Sanctuary Restoration Plan Gets the Go ahead in Federal Waters
The Florida Keys National Marine Sanctuary Restoration Blueprint was vetoed last March, blocking it from taking effect in state waters. In an advisory council session held last June, the sanctuary was told they had two options: operating one sanctuary in federal waters and another one closer to shore, or eliminating the Blueprint altogether. NOAA told the advisory council they intend to proceed with the new rules in federal waters and work to find consensus with state officials in other ways for approval in state waters. Details of the Blueprint include a 20% expansion of sanctuary boundaries, the addition of 20 wildlife management areas, setting regulations on cruise ships such as prohibiting the discharge of any material other than cooling water, and the acknowledgement of needing to limit visitors to save the reef. Some fishing restrictions were removed by the elimination of five marine zones to balance the proposed decline in visitation. Read more here. Image source: CCA Florida
EU Countries Final Decision on Plans to Cut Emissions by 90% by 2040
On March 5th, the European Union (EU) gave final approvals to cut 90% of their greenhouse gas emissions by 2040. The aggressive plan requires 85% of 1990 emission levels to be cut. The political agreement between EU member nations was difficult to pass but was aided due to worsening droughts and wildfires in countries such as Spain. While some nations argued for softening emission requirements to assist growing industries, there was enough support to pass the resolution. Even though the plan is the strongest supporter towards cutting emissions around the world, the resolution still falls short of recommendations from the EU's climate science advisors. Read more here.
Estuary Project in WA will Improve Health, Habitat, and Safety
Washington State’s Capitol Lake suffers from algal blooms, water quality issues and excessive levels of sediments, as the result of a dam that was built in the 1950s. Since then, salmon population and water quality has decreased, sediment has continued to build, and on one occasion, invasive species completely shut down access to the lake. The Deschutes Estuary Restoration Project aims to reverse these negative impacts and restore the natural waterways and habitats of the estuary, by removing the dam and reintroducing tidal flow while also taking the chance. The project is currently at 60% design and aims to be at 90% by late 2026. Read more here. (Image Source: Washington Department of Ecology).
Public Input Now Open for the Nature Record National Assessment
As of last week, public commentary for the Nature Record National Assessment, the first comprehensive assessment of nature and its associated benefits across the U.S., was announced as open for feedback until May 30th. The 868-page draft includes notable chapters on marine, inland water, and terrestrial ecosystems, as well as commentary on nature and climate change, the economy, and health and well-being, touching on crucial pillars for a holistic, comprehensive approach in accurately valuing ecosystem benefits. The authors and collaborators encompass a wide range of disciplines to provide accurate, diligent, and scientifically sound information on U.S. lands, waters, biodiversity, and wildlife. Read more and potentially leave a comment on the draft here.
More Electric Cars Potentially Coming to WA
Last week, Washington State’s legislative session came to an end, and with it came a smattering of new bills – including one that may change the electric car market in the state forever. Senate Bill 6354 would expand a loophole which allows electric car manufacturers selling their cars in-state to include Rivian and Lucid, Tesla’s main competitors. Opponents of the bill, primarily car dealerships, claimed that expanding this loophole would give said companies an unfair advantage. However, these dealerships eventually came to compromise on the bill after Rivian threatened to bring a ballot measure allowing the public to decide and boxing out dealerships from negotiation entirely. Read more here.
Manatee County Port Blocked by DeSantis
Florida's Senate Bill 302 included an amendment that prohibited major development and dredging in the Terra Ceia Aquatic Preserve. This would block the construction of a cruise terminal that would require more extensive dredging while still allowing minor dredging for recreational usage. Considerable public backlash was organized in Manatee County after the plans for this construction was announced by SSA marine and Slip Knott LLC. Opponents argued that considerable change to the environment and lifestyle of the surrounding community would occur if the terminal was built. Additional bills signed include House Bill 1417, which is purported to streamline the State’s environmental rule making for the FDEP by eliminating the Environmental Regulation Commission. Read more here
Data Visualization of the Week
Heat-Resilient Infrastructure Mapping in Cities
A new open-source framework has been developed at World Resources Institute to address the gap between resources and implementation of heat-resilient infrastructure – such as green spaces, reflective surfaces, and shade – in cities facing climate-related temperature increases. Using remote sensing technology in combination with land-use and land-cover datasets, they produce scenario maps that illustrate the potential opportunities for infrastructure implementation based on feasibility, achievability, and policy assumptions. The data visualization below is an example of the inputs and resulting scenario maps that are attributed to this framework. The developers hope that the tool is utilized to create actionable steps forward for cities across the world. Read more here.
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