Finance and infrastructure investment experts use London Climate Action Week to stress the need for robust climate risk data and analytics, incentives and collaboration.
With US$90 trillion in infrastructure investment needed globally over the next decade to achieve global growth expectations, success will not be possible without a systemic shift in the way projects are financed to build resilience to climate change, warned a group of industry leaders yesterday at an event organised by the Coalition for Climate Resilient Investment (CCRI).
With the need for systemic resilience to shocks and stresses made clear by the COVID-19 crisis, CCRI brought together over 200 policymakers, scientists and investors and business leaders to discuss challenges and solutions to better integrate physical climate risks in investment decision making.
The challenge is critical, according to CCRI, as investment choices made now will lock in for decades either a global network of climate-resilient infrastructure or a collection of exposed assets which will make social and economic activity vulnerable to climate risk. Delivered effectively, solutions and capital mobilised by CCRI will secure risk-adjusted returns and, most importantly, save lives and their livelihoods, especially in highly vulnerable countries.