CCRI selects specialist not-for-profit partners to take on flagship climate initiatives to deliver long-term success and impact
LONDON, 30 March 2023
The Coalition for Climate Resilient Investment (CCRI) today announced that it has successfully completed the transfer of its portfolio of government and investor-focused climate tools, solutions and financial instruments to not-for-profit partners.
Supported by the CCRI board, the Global Infrastructure Hub is intended to take the role of Secretariat, responsible for collaborating with and supporting the CCRI legacy partners who will continue delivering the core programmes begun by CCRI. This approach helps ensure continuation of the coalition’s pioneering work to integrate climate risks into investment decision-making.
Since launching at the UN Climate Action Summit in 2019 - spearheaded by the UK Government, World Economic Forum and WTW - CCRI has grown to 131 members representing over US$28tn in assets, including institutional investors, banks, insurers, the State of California, and governments of the UK, Canada, Australia and Jamaica. The private sector-led coalition has become a major multi-programme initiative that contributes to the global public good by helping to build the systemic and asset level resilience of critical infrastructure in the face of future climate risks.
"CCRI’s journey has been a series of ‘firsts’, putting in place essential building blocks for investors to increase the climate resilience of their own portfolios and the communities they invest in. This work offers the potential to save millions of lives and livelihoods and billions of dollars of public and private resources in the years and decades ahead. “After four years of growth and success, and having outgrown its original platform, CCRI is now transitioning to longer-term hosting arrangements so that its innovative programmes can be given the specialist support required for their long-term success and impact."
John Haley, Chair, Coalition for Climate Resilient Investment said:
"The GI Hub has been a long-time partner and supporter of CCRI, whose impactful and cohesive work programme delivers impact by helping to practically embed resilience in all aspects of projects from planning to investment. We are proud to be the team proposed to ensure the legacy of this important work and continue its impact. We look forward to working closely with CCRI members and legacy partners including the IIGCC and multilateral development banks. We would also like to recognise and thank the CCRI team and Executive Director Carlos Sanchez for the outstanding work delivered to date."
Marie Lam-Frendo, CEO, Global Infrastructure Hub said:
Core programmes being transferred to not-for-profit partners include:
- Physical Climate Risk Assessment Methodology (PCRAM) - The Institutional Investors Group on Climate Change (IIGCC) has been selected as CCRI legacy partner for the PCRAM 2.0 programme. CCRI launched PCRAM as a global public good to help public and private sector infrastructure investors assess and quantify their exposure to climate physical risks. PCRAM’s ‘market-first’ ability to clearly demonstrate the positive returns from investment in climate resilient assets is essential to incentivise and scale up private sector engagement.
- Jamaica’s National Investment Prioritisation Tool - The Foreign, Commonwealth & Development Office (FCDO) will continue to provide invaluable support in helping the advancement of critical stages of the work in Jamaica. First tested in Jamaica, the ground-breaking tool was developed to help national governments assess the systemic risks and climate resilience needs of their most critical infrastructure assets, in order to prioritise where investment is needed most.
- Systemic Resilience Metrics - The Global Infrastructure Hub is intended to continue this programme, which aims to demonstrate the positive impact that integrating physical climate risks in decision-making should have for key sovereign quality metrics.
"The CCRI Board and management team are delighted that after nearly four years of commitment, outputs, and successes the work of the CCRI community will continue to thrive and prosper under these new arrangements so that society and markets can look forward to a more resilient future that the coalition has been driving towards. Partners selected to further advance CCRI’s work fully share our commitment to pursuing practical and innovative solutions for the public good that are capable of unlocking investment in climate adaptation, bridging the existing infrastructure gap and helping meet the world’s future infrastructure needs."
John Haley added:
About CCRI
Coalition for Climate Resilient Investment is a broad-based, global coalition which aims to ‘mainstream’ climate risks in investment decision-making. It was launched formally at the UN Climate Action Summit in 2019 with the UK Government, the World Economic Forum and WTW spearheading the initiative. Other convening institutions include the Global Commission on Adaptation and the World Resources Institute.
The Coalition currently comprises 131 institutions, including institutional investors, banks, rating agencies, engineering firms and insurance companies, representing US$28tn of financial assets. Learn more at www.resilientinvestment.org
As of 1 April 2023, CCRI will cease to operate in its current configuration and the coalition’s programmes will be transferred to the selected not-for-profit partners.
