The Smith School of Enterprise and the Environment (SSEE), the Green Finance Institute, and the Environmental Change Institute (ECI) at the University of Oxford have published a new report “Mission Climate Ready: Unleashing finance and investment for a prosperous climate ready economy”.
The report sets out the UK national context regarding climate change adaptation, citing a lack of preparedness for the impacts of climate change and the increase risk of extreme weather. This lack of preparedness was the conclusion of the Climate Change Committee’s assessment of the second National Adaptation Programme 2018-2023. The Committee stated that:
“Our assessment has found very limited evidence of the implementation of adaptation at the scale needed to fully prepare for climate risks facing the UK across cities, communities, infrastructure, economy and ecosystems.”
This policy report sets out a roadmap of recommended actions for the UK Government to facilitate increased investment and finance for climate change adaptation, to deliver the 2023 Green Finance Strategy through the developing
The report notes that a lack of action and investment has directly contributed to the lack of preparedness and as a consequence the UK is behind on its national ambitions for climate change adaptation, whilst risk is exponentially rising. The lack of action has been exacerbated by a lack of clarity in government policy, targets and plans to facilitate evidence-based decision making towards a climate-resilient development pathway.
The document identifies and proposes six pillars of action, which it stresses need to be completed by 2025.
Access the full Policy Report “Unleashing finance and investment for a prosperous Climate Ready economy” from the Smith School of Enterprise and the Environment.