In this note, we will take the opportunity to reflect on progress made by CCRI, which can only be described as a success made possible by the tireless energy of members, and key COP26 outcomes, before providing a more detailed report on advances made by individual working groups.
It was wonderful to meet some of you in person at COP26 in Glasgow and to see everyone’s immense individual and collective efforts come to fruition. Notably, COP26 saw CCRI “graduate” as a leading global initiative in the resilient investment space, which fills us with pride, but also the responsibility to meet the challenges presented by the next stages of delivery. We are working towards a number of important announcements to be shared with you in the New Year with regards to governance and overall ambition.
Significant progress and momentum was made to accelerate global action on resilience at COP26, with the UN calling for urgent efforts to increase resilience investment and implementation. It was equally encouraging to see CCRI given such a prominent platform, reinforcing the Coalition’s lead role in developing a systemic response to resilience and providing an invaluable opportunity to showcase the remarkable progress we have made in the last 18 months in advancing practical solutions at both the systemic and asset level. The reception and feedback CCRI received at COP26 associated with our progress and delivery could not have been better.
While COP21 in Paris is remembered for nation states gathering the political will to tackle global warming, Glasgow will be recognised for a seismic shift in the economic and financial attitudes towards investment in climate resilience.
Both public sector and private finance are beginning to demonstrate a view of investment in resilience as being a good investment, and the proper pricing of climate risk as an opportunity rather than a threat. Crucially, this progress will provide improving conditions in 2022 and beyond for CCRI to deploy its solutions at scale and at pace. In addition to the keynote speech by CCRI Chair John Haley, in which he called for a new financial order to protect markets from climate risk, CCRI participated in a number of key panel events on resilience and finance.