Changes in rainfall, temperatures, wind, and other environmental factors pose financial risk to society. In this episode of waterloop Greg Characklis of the University of North Carolina at Chapel Hill discusses the increased attention on the risk from lenders, investors, insurance companies, and credit agencies, and how a variety of traditional and innovative tools can be used to manage financial risk. Greg talks about situations of financial risk in water around the country including the Great Lakes, Mississippi River, and Central Valley in California.