The former secretary-general of the United Nations, Mr. Ban Ki-Moon, spoke at Miami-Dade College about climate change, its impacts on Miami and beyond, the cost to adapt infrastructure, and the city’s resilience bond that serves as a model to the … Continued
Climate Resilient Institutional Investments and Finance
The incorporation of Environmental, Social, and Governance criteria in investment portfolios is one of the most promising trends of our times and needs to be strongly encouraged. Trillions of dollars will flow to more responsible investments as ESG becomes the norm. At the top of the ESG list is an increasing recognition of the opportunities for massive investments in clean, renewable energy. The IPCC makes clear that mitigation of climate change will require an unprecedented flow of capital into clean energy technologies. At the same time, the GCCR is hearing from communities, cities, states, and countries who are reeling from the rising costs of disasters associated with climate change.
The GCCR believes that it is imperative that ESG investment criteria include climate resilient policies and actions. Responsible investing should reduce the carbon footprint as well as fund those behaviors and actions that increase climate resilience.
Climate Resilience and Government Policies
Climate resilience is an economic, social and environmental imperative. We know climate preparedness pays back, making business sense, strengthening communities and saving lives. We also know that for every $1 spent on disaster preparedness, we save $6 in avoided costs. That’s a testament to the return on investment of these resiliency solutions.
Governments must provide the leadership to make transformative change and the policy changes needed to forge stronger, climate resilient communities. Smart public policies at all levels (international, federal, state and local) will be critical for creating the enabling environment to accelerate solutions and foster collaboration across the private sector, science, technology advancements, academia, and NGOs. Governments have united to address climate change as evidence in the historic Paris Accord of 2015. The mitigation goals, informed by the findings of the scientists working at the IPCC, and the Nationally Determined Commitments that are monitored and reported to the UN to measure progress have been the product of 194 governments of the world.
At the recent UN Conference of Parties in Poland, the governments placed adaptation on a par with mitigation. The ongoing and growing disasters caused by climate change require new climate resilient strategies to build back better. Efforts like GCCR are bolstered by the leadership of policymakers who are taking action to create more prepared countries that can bounce back from extreme weather, energy, and economic challenges.
As this movement builds, we’re coalescing around a common language for risk and vulnerability. We’ll work with lawmakers on identifying and developing the tools to get us there — the plans, the metrics, the standards, and the best practices. We will also continue to marshal the data and the evidence to demonstrate how preparedness pays back.
GCCR will work with governments around the world, both the executive and the legislative branches, to address the best ways for communities, cities, states, and national governments to withstand the climate change disasters. In the long term, we need to think about how to institutionalize holistic, systems approach solutions and create a new paradigm of climate resilience.
Toward that goal, the GCCR will be garnering support for a new and innovative National Institute for Climate Resilience, an independent, nonpartisan entity designed to provide an enduring institutional foundation for how our nation plans for disasters and prepares for changing temperatures, stronger storms, longer droughts, and increased flooding. A National Institute for Climate Resilience would establish a technical and analytical center of gravity across government, helping us better prepare for the circumstances of tomorrow and be more able to bounce back when these tragic events do occur.
GCCR will also work closely with the various initiatives of the Secretary-General of the United Nations as well as the associated UN agencies who have taken leadership roles on climate and resilience.
CLIMATE RESILIENCE AND INFRASTRUCTURE
Whole life cycle-oriented design should define the field for infrastructure development. Included in the modeling, climate resilience should be a key part of the criteria within the life cycle analysis. As climate resilience standards and ratings are put in place, all infrastructure projects will need to be designed accordingly. Ports, airports, rail, water, roads, bridges, power, telecom must be evaluated in terms of their climate resilience over the decades that they will be in service. McKinsey Global Institute research has estimated a trajectory of total spending of $69.4 trillion by 2035. Will these massive infrastructure investments be resilient?
What is certain is that climate change is already causing widespread damage and it will get worse due to emissions already in the system as well as those added each year. The question for communities and cities is how to rehabilitate their existing infrastructure and protect their infrastructure of the future. The Global Center for Climate Resilience brings these communities together to reach scale and efficiency.”
Board of Directors, American Society of Civil Engineers
May 20th to 24th, 2019 The buzzword “resilience” is everywhere these days. The 2019 USNC Pro delegation will not only take a look at Dutch innovation in the interface of nature and the built environment, but also how the built environment … Continued
“A gigantic cavity – two-thirds the area of Manhattan and almost 1,000 feet (300 meters) tall – growing at the bottom of Thwaites Glacier in West Antarctica is one of several disturbing discoveries reported in a new NASA-led study of … Continued