In terms of our progress as a COP26 Flagship Initiative, first and foremost, we are delighted to see all CCRI working areas fully active and energised by the incredible support from members. Thanks to such commitment, CCRI is not only advancing its technical workplan at a faster pace than projected, but also adding levels of ambition that initially would have been considered unrealistic. The excellent work on credit risk and resilience at the cash flow model level of the ADS working group is just one of many examples.

Thanks to this progress at the technical level - combined with support from the UK government, the COP26 Unit and Mark Carney - membership and positioning are developing in a promising direction. With CCRI membership now at 84 members, representing USD 12tn in assets, our goal is to arrive at COP26 with 100 members and USD 20tn.

Progress to date has been exceptional. However, clear challenges - mainly analytical - remain. So, while we celebrate our early successes, we remain laser-focused on our goal to deliver transformational solutions by COP26, and beyond. In that regard, your continued support in realising CCRI’s collective ambition is as important and needed as ever.

Please find enclosed both an executive summary and a detailed report regarding CCRI’s progress.

As always, many thanks for your support.

Carlos Sanchez,
Executive Director, CCRI