The main financial institutions for the development of industrialized countries, including Cassa Depositi e Prestiti, set up a group for the preparation of a strategic plan with which to increase the climate change resilience of the G7 countries
Those who change and adapt survive and maybe even save the planet. And then, making resilience your creed becomes a mission. More or less the same as the main financial institutions for the development of the G7 member countries, including Cassa Depositi e Prestiti, one of the lungs of the Italian economy, fresh from the presentation of a practical plan to be submitted to the G7, containing the actions with which to accelerate investments for the resilience of industrialized economies.
Obviously, the first form of adaptation and change can only be the promotion of greater environmental sustainability of companies, public administrations and the same institutions behind the plan, among which, in addition to Cdp, there is the US International Development Finance Corporation (Dfc), the Development Finance Institute Canada and the UK’s Cdc.
In the details of the plan, the group has committed in this sense to “pursue a substantial increase in investments in adaptation and resilience and to undertake further actions for the adoption of a common methodological approach for the identification of eligible investments and for reporting on progress. Therefore, efforts are not enough, but progress must be carefully monitored once the investment has been activated.
Furthermore, among other objectives, “work to ensure that all investments are resilient to climate change, create bankable and funding-worthy investment pipelines and support the collaboration between the public and private sectors, necessary to help developing countries to identify and articulate their adaptation needs and to create the conditions for accelerating private sector financing ”. All commitments, welcomed by the G7 Foreign and Economic Development ministers, who met just yesterday in London. A first verification of the commitments undertaken is expected at the next G7, in 2022.
Amal-Lee AminClimate Change Director at CDC explained how “the impacts of the climate crisis are harming people, businesses and resources today. Therefore, it is essential not only to invest to achieve net zero emissions, but also to support vulnerable economies to adapt and increase resilience to existing and future climate impacts ”.
“The climate crisis represents the existential threat of our time, but addressing it also represents a unique opportunity to create healthier growth, innovation, jobs and communities,” he said. David Marchick, chief operating officer of Dfc. “Coordinated global action is essential, which is why we are proud to partner with other development finance institutions to increase funding for climate adaptation and resilience in developing countries, where vulnerable populations are severely affected. disproportionate to climate change, to support sustainable development and economic growth. “
Second Stephanie Emond, chief impact officer of FinDev Canada “FinDev Canada looks forward to working with our colleagues to increase investment in adaptation and resilience to ensure that the most vulnerable people and economies are better prepared to deal with increasing climate impacts.” Obviously, the voice of Cdp could not be missing, that of Antonella Baldino, director of Cdp International Development Cooperation. “Tackling the climate crisis is an urgent global challenge that requires a truly global partnership approach. In line with our continued efforts on the climate agenda, at CDP we are proud and excited to join this team. We look forward to collaborating with other financial institutions to pursue our common and ambitious goals on global climate adaptation and resilience ”.