Global Resilience Index Initiative offers climate-risk tool

The Global Resilience Index Initiative is developing a common language for understanding global climate risk in financial terms, along with a risk-demonstrator tool presented at the U.N. climate conference COP27 on Saturday.

The public/private partnership’s demonstrator tool shows risk from climate hazards on a global scale, with data on hazards, vulnerability and exposure under different future climate scenarios. GRII is funded in part by the insurance sector and other financial institutions with the goal of developing an open-source resource for metrics across buildings, infrastructure, agriculture and societal exposures, it said in a news release.

Mark Carney, U.N. special envoy on climate action and finance, said in the release that a shared understanding of physical climate risks “will help close the insurance protection gap and direct investment and aid to where they are needed the most.”

GRII Chairman Rowan Douglas, head of Willis Towers Watson’s climate and resilience hub, in the release credited Mr. Carney for challenging the academic, public and private sectors “to fill the critical climate resilience information gap.” Mr. Douglas welcomed more participation in the project, which hopes to launch the full architecture next November at COP28 in Dubai.

The GRII website offers a discussion paper, Towards a Climate Risk Data Architecture, that shows how a common language could work and the progress to date.

Content Source

News Press Ohio – Latest News:
Columbus Local News || Cleveland Local News || Ohio State News || National News || Money and Economy News || Entertainment News || Tech News || Environment News

Related Articles

Back to top button