Billions of dollars in infrastructure spending could be wasted because the federal government is relying on an outdated weather model, according to a new study from climate research firm First Street Foundation. POLITICO’s Zack Colman breaks down how federal dependence on that model presents multiple risks for state and local governments and potentially wastes taxpayer money. Plus, a global panel backed by the G-20 issued new climate and sustainability disclosure standards.

Zack Colman covers climate change for POLITICO.

Josh Siegel is a congressional energy reporter for POLITICO.

Nirmal Mulaikal is a POLITICO audio host-producer.

Alex Keeney is a senior audio producer at POLITICO.

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Why an outdated weather model could cost Americans billions