Towards a climate risk data architecture
Common and open risk metrics to align finance with climate-resilient development goals
Mobilizing the trillions of dollars of finance needed for climate change adaptation and resilience will require a new climate risk data architecture to provide globally consistent, open baseline datasets on climate risk and resilience metrics as a global public good.
The common language of greenhouse gas emissions (tonnes of carbon) enables climate mitigation action at scale. This agreed architecture and approach means that from local to global level a common understanding is in place. Upon this governments, corporates and civil society can set targets and plans, monitor progress transparently and consistently, price the externality and establish markets to drive action.
This same standardization does not yet exist in the climate resilience agenda. Adaptation and resilience are missing a common language – the common and open resilience metrics to help create a shared understanding and baseline for addressing climate risk in financial terms.
This objective of this report is to demonstrate how such a common language could work and show progress to date. Launched with the Global Resilience Index Initiative’s (GRII) risk viewer demonstrator at COP27, this report makes the case for shared, common metrics and tools for climate risk.
