This week we are diving into adaptation and mitigation, through the lens of collaboration: A contract clause for sharing costs with suppliers; a 15 point risk checklist; a toolkit for the finance team to bring nature into climate work; 200 adaptation and resilience measures across insurance industry; and a window into climate bonds on mitigation and resilience.
The climate and nature emergency is growing. We must reunite and revitalise our efforts. Radical collaboration is how we will solve this. On 23 September in London, members and special guests will join up to co-create a plan for radical collaboration, share solutions and receive support.
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Right! Let's get into it...
The Chancery Lane Project is a UK charity whose volunteer lawyers write free model contract clauses you can lift into a supplier negotiation. Under their Iris' Clause, neither buyer nor supplier carries the whole cost when a climate event or a pandemic stops delivery. It asks both sides to resell, recycle or donate undelivered stock rather than waste the carbon in it, with a price discount on anything resold or recycled. When either side's cash runs short, their finance directors must discuss extending payment deadlines in good faith. [Discover here]
Companies know that physical climate risks are growing but most still respond event by event, according to Systemiq and US non-profit C2ES, who interviewed more than 40 organisations. Their report says climate resilience usually sits with the sustainability lead, who controls neither capital allocation, procurement nor operations. So they built a free 24-question self-assessment that returns a profile of where your company stands and what to do next. The profile gives sustainability leads something to take to the people who hold other levers. [Discover here]
Global warming cannot be held to the Paris Agreement's 1.5°C without addressing nature loss, which cannot be reversed without a stable climate. Consider either alone and you may miss risks and opportunities, or help one while possibly harming the other. Accounting for Sustainability's guide, "The Links Between Nature and Climate", shows finance teams how to build both into activities like risk assessment and capital investment. Tool 3 adds questions for your finance team to answer with teams such as sustainability, risk and operations. Both sit in a series of guidance and tools for bringing nature into decision-making. [Discover the full series]
Physical climate risks already exceed insurable limits in many regions, threatening the availability and affordability of cover. Yet insurance "is evolving from paying for losses to reducing risk and enabling adaptation", says the Environmental Defense Fund. Its free Insurers' Resilience Toolkit organises over 200 adaptation and resilience measures already in use into six categories, including insurance policy incentives that reward risk reduction. It also includes 25 case studies from both well-developed and underserved insurance markets. Even if you're not in insurance, it gives you an idea of what to think about and look at. [Read more]
Sustainable bonds are a primary vehicle for climate finance, yet resilience currently receives only a small portion of their capital, says Climate Bonds Initiative. A key barrier is the lack of clarity on what counts as a resilience investment. The Climate Bonds Taxonomy, a guide to what is climate-aligned, now covers mitigation and, for the first time, selected resilience investments across water infrastructure and agriculture. A platform lets you filter by sector, sub-sector and climate theme to find what is eligible for green finance, and the criteria it must meet. [Discover here]