While driving down an East Texas country road I spotted this scene. The autumn trees and the late afternoon sun made these golden bales of hay shine just a little bit more. Fortunately I had my camera with me. (c) James Q. Eddy Jr.

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'Catastrophe bonds' are gaining popularity as a response to climate change

By Jeff Guo

Published December 11, 2025 at 4:41 PM CST

After the hurricane in Jamaica, the government had a pot of money to help rebuild. A Catastrophe Bonds payout. We explain how it works and why Cat Bond popularity is on the rise as a response to climate change.

Jeff Guo

Jeff Guo (he/him) is a co-host and reporter for Planet Money, NPR's award-winning podcast that finds creative, entertaining ways to make sense of the complicated forces that move our economy. He joined the team in 2022.