COVID-19 has dramatically affected investment markets during this extremely challenging period. How could it potentially change climate investment going forward?
During an event organized by the Coalition for Climate Resilient Investment (“CCRI”), industry leaders hypothesized that “a global infrastructure investment of $90 trillion will be needed over the next decade to achieve global growth expectations – and success will be contingent upon a shift in the way projects are financed to build resilience to climate change.”
According to CCRI, investment decisions made now will lock in either a global network of climate-resilient infrastructure or a collection of exposed assets that will make social and economic activity vulnerable to client risk.
Experts also urged stakeholders to act quickly to address three (3) specific weaknesses they identified as critical barriers to properly quantifying climate risk and shifting toward a more climate-resilient economy:
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