Adaptation and Resilience

   

What is Adaptation and Resilience?

Losses due to weather and climate-related events have increased significantly. To combat these losses, accelerated deployment of various sources of finance, including green bonds, is urgently needed. There are opportunities to build climate adaptation and resilience capacity in both developed and developing countries. Innovation is in demand across a range of sectors. include water-efficient technology, drip irrigation, wind-, flood-, and heat-resilient building materials, new financial and insurance products, drought-resistant seeds, and new health products, among many others. Infrastructure upgrades and relocation are also key resilience investments. 

To date, green bonds have focused primarily on greenhouse gas mitigation efforts with a lesser emphasis on resilience. Robust criteria for resilience for some sectors have already been developed under the Climate Bond Standard, but strategic guidance was needed for introducing resilience criteria across all sectors in a consistent and systematic manner. 

 

The Adaptation and Resilience Expert Group (AREG) 

The Climate Bonds Initiative convened an Adaptation and Resilience Expert Group (AREG) to develop the Climate Resilience Principles, which provide high-level guidance for determining when assets and activities are compatible with a climate resilient economy, and therefore should be certified under the Climate Bond Standard. The group drafted the Principles and sought expert review over 9 months starting in October 2018. 

The Climate Resilience Principles provide the framework under which sector-specific Climate Resilience Criteria will be subsequently developed by sector based Technical Working Groups (TWGs). These sector-specific Criteria will be the primary reference for issuers of green bonds seeking certification. Members of the AREG, TWGs and the Climate Bonds Initiative will ensure the Principles are consistantly reflected in sector Criteria that already address climate resilience, in sector Criteria that does not yet do so and in new sector Criteria under development.”

Together, the Principles and sector Criteria will support the mainstreaming of climate resilience considerations across all green bonds as well as reduce friction in the market for green bonds that aim to enhance resilience. 

Download the Climate Resilience Principles (CRP) here.

Read the Media Release here. 

Joyce Coffee (AREG Lead)  CEO Climate Resilience Consulting	Neuni Farhad Project Officer: Adaptation Research C40 Cities Climate Leadership Group	Stacy A. Swann CEO and Founding Partner Climate Finance Advisors, Benefit LLC	Federico Mazza Adaptation Lead Climate Policy Initiative
Karoline Hallmeyer Assistant Manager and ESG Advisor​ KPMG	Brooks Preston Managing Director Macquarie Infrastructure and Real Assets Investments Ltd.	Carel Cronenberg Associate Director: MRV Manager European Bank of Reconstruction and Development	Craig Davies Head of Climate Resilient Investments European Bank of Reconstruction and Development
Cinzia Losenno Senior Climate Change Specialist European Investment Bank	Emilie Mazzacurati Founder and CEO Four Twenty Seven	Josh Sawislak Strategic Advisor Four Twenty Seven	Kevin Smith Vice President Goldman Sachs
Carmen Lacambra Segura Partner and Founder Grupo Laera	Nathanial Matthews Program Director Global Resilience Partnership	Swenja Surminski Senior Research Fellow Grantham Research Institute	Celeste Connors Executive Director Hawaii Green Growth
Vladimir Stenek Senior Climate Change Specialist IFC	Jay Koh Managing Director Lightsmith Group	Aris Papadopoulos Founder of Resilient Action Fund Resilience Action Fund, UNISDR-ARISE	Kevin Bush Chief Resilience Officer Washington D.C. Government
Miroslav Petkov (AREG Observer) Director S&P Global	Richard J.T. Klein Senior Research Fellow Stockholm Environment Institute	Jenty Kirsch-Wood Senior Technical Specialist - DRM and CCA UNDP	Peter Wheeler Executive Vice President The Nature Conservancy
Michael Cote Project Director, Private Investment for Enhanced Resilience Winrock International	Carlos Sanchez Director, Climate Resilience Finance Willis Towers Watson	Stephane Hallegatte Lead Economist, GFDRR World Bank	Moushumi Chaudhury, Associate of Climate Resilience Practice WRI
John Firth CEO & Co-founder Acclimatise	Niranjali Amerasinghe Senior Associate of Sustainable Finance Center WRI	Karl Mallon Director XDI	Yoon Hui Kim, Ph.D. Head of Global Client Services Four Twenty Seven
Christine Lafon BNP Paribas	Xianfu Lu Senior Climate Change Specialist (Adaptation) Sustainable Development and Climate Change Department Asian Development Bank	John Thieroff Vice President -Senior ESG Analyst Moody's Investor Service

 

Climate Bonds Initiative Staff