The chair of the Coalition for Climate Resilient Investment has said its successful and ongoing migration of trillions of dollars in assets into sustainable investments has the potential to save millions of lives.
John Haley made his comments as the CCRI announced that it has successfully completed the transfer of its portfolio of government and investor-focused climate tools, solutions and financial instruments to not-for-profit partners.
Supported by the CCRI board, the Global Infrastructure Hub is intended to take the role of Secretariat, responsible for collaborating with and supporting the CCRI legacy partners who will continue delivering the core programmes begun by CCRI.
The organisation explained the approach will help ensure continuation of the coalition’s “pioneering work to integrate climate risks into investment decision-making”.
Since launching at the UN Climate Action Summit in 2019 – spearheaded by the UK Government, World Economic Forum and broker WTW – CCRI has grown to 131 members representing over $28 trillion in assets, including institutional investors, banks, insurers, the State of California, and governments of the UK, Canada, Australia and Jamaica.
The private sector-led coalition has become a major multi-programme initiative that contributes to the global public good by helping to build the systemic and asset level resilience of critical infrastructure in the face of future climate risks.
Haley said: “CCRI’s journey has been a series of ‘firsts’, putting in place essential building blocks for investors to increase the climate resilience of their own portfolios and the communities they invest in. This work offers the potential to save millions of lives and livelihoods and billions of dollars of public and private resources in the years and decades ahead.
“After four years of growth and success, and having outgrown its original platform, CCRI is now transitioning to longer-term hosting arrangements so that its innovative programmes can be given the specialist support required for their long-term success and impact.”
Marie Lam-Frendo, CEO, Global Infrastructure Hub added: “The GI Hub has been a long-time partner and supporter of CCRI, whose impactful and cohesive work programme delivers impact by helping to practically embed resilience in all aspects of projects from planning to investment. We are proud to be the team proposed to ensure the legacy of this important work and continue its impact. We look forward to working closely with CCRI members and legacy partners including the IIGCC and multilateral development banks. We would also like to recognise and thank the CCRI team and Executive Director Carlos Sanchez for the outstanding work delivered to date.”
Haley added: “The CCRI Board and management team are delighted that after nearly four years of commitment, outputs, and successes the work of the CCRI community will continue to thrive and prosper under these new arrangements so that society and markets can look forward to a more resilient future that the coalition has been driving towards.
“Partners selected to further advance CCRI’s work fully share our commitment to pursuing practical and innovative solutions for the public good that are capable of unlocking investment in climate adaptation, bridging the existing infrastructure gap and helping meet the world’s future infrastructure needs.”