CRS Report – FEMA Hazard Mitigation: A First Step Toward Climate Adaptation Updated February 22, 2022: “With the increasing severity and frequency of natural disasters, attributed at least in part to climate change, policymakers often view mitigation funding as a way to control disaster-related spending. The importance of federal mitigation funding is illustrated by a recent study that looked at the impacts of 23 years of federal mitigation grants and found that for every $1 invested by federal grant programs, society as a whole saved $6 due to reduced future losses. FEMA has a lead role in guiding nationwide mitigation of extreme weather events, including those resulting from the impacts of climate change. In particular, FEMA administers the federal government’s most significant grant programs for pre-and post-disaster mitigation. FEMA has identified hazard mitigation as one of the main ways in which the agency will enhance resilience to the effects of climate change and lead federal climate change adaptation efforts. FEMA funds mitigation measures through a number of programs: the Hazard Mitigation Grant Program (HMGP); the Building Resilient Infrastructure and Communities grant program (BRIC); the Flood Mitigation Assistance grant program (FMA); the STORM Act State Revolving Loan Program for Hazard Mitigation; Public Assistance (PA); and Individual Assistance (IA)…”