Stockholm (NordSIP) – On the eve of the start of the COP27, the Climate Bonds Initiative (CBI) launched its new Global Resilience Programme, aimed at mobilising capital markets to accelerate the transition to resilient societies by expanding its offering beyond traditional categories of sustainable and green products.
“We need rapid and robust investment to build resilience of physical, social, ecological, and financial systems in the face of climate change. We are facing a century of volatility, accelerated and exacerbated by the changing climate. This summer, we saw impacts that we weren’t expecting to feel for another 25 years — extraordinary heat in China and North America, floods in Pakistan, and droughts across Europe showed us that we are already living in the era of climate impacts,” Climate Bond’s accompanying press release stated.
The Global Resilience Programme has three goals: “to identify credible, science-based investment opportunities that build resilience; to mobilise finance towards credible resilience measures; and to accelerate the speed and growth of resilience investments through a supportive policy and regulatory environment.”
The new programme seeks to define clear definitions and rulesets, to expand its offering of guidelines from the current universe of green investments to include those that build resilience. “This expansion will include not only investments that reduce the direct physical impacts of climate change (e.g., flood barriers, early warning systems, etc.) but also investments that address the underlying vulnerability of people and ecosystems to climate change (e.g., healthcare, housing, gender equity, deforestation, etc.).”
As demand for sustainable products continues to outstrip supply, the CBI is looking to address the opportunities still available to satisfy this demand and scale-up capital flows towards investments in resilience.
