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Collaboration in respect of the built environment

Collaboration in respect of the built environment. 5 February 2013. Overview. What is the key issue? Risks Potential solution. What is the key issue?. What is the key issue?. A need for an integrated lifecycle view of urban development:

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Collaboration in respect of the built environment

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  1. Collaboration in respect of the built environment 5 February 2013

  2. Overview • What is the key issue? • Risks • Potential solution

  3. What is the key issue?

  4. What is the key issue? • A need for an integrated lifecycle view of urban development: • greater involvement by the financial industry in the built environment • to make the built environment a more resilient environment in which to invest, lend to and insure • collaboration between financiers, developers, local authorities and insurers • will allow for better management of risks

  5. What are the risks?

  6. What are the risks? • Changing climate risks and weather patterns • Linked to location/area and materials risk • Response is time-sensitive: risks are real, already in the system and multiplying • Incapacity and inability of the built environment to easily adapt and build resilience to these risks • Unsustainable built environment portfolios – risk to financial and property sectors, general business, government and society • Risk transfer will not be sufficient to cover the increasing levels of risk in the system • Incapacity of local authorities to play their roles in development and protection

  7. Potential Solutions

  8. Potential solutions(1) • Challenge is how to effectively work together across sectors • Lack of shared understanding of what is meant by sustainable and resilient • Many decision-makers do not understand the benefits/risks involved • System interdependencies need to be better understood • Where does risk accumulate? • Where is there dependence on critical infrastructure providers? • How is this identified and managed? • Finance sector needs to identify, advocate and incentivise the correct risk reduction actions and investments • Risk analysis & understanding of risk drivers are needed

  9. Potential solutions(2) • The implementation of a number of small solutions is likely to have a bigger impact than a “silver bullet” solution • Do the basics first to catalyse change • Study the work done by others and apply lessons learnt • Innovate • Collaborate on shared risks • Education and awareness across sectors: • To encourage improved risk awareness • To improve decision-making • Capacity building at local authority level

  10. Potential solutions(3) • A sensible and collaborative ESG response to the built environment is required: • Responsible investments • Reduction in the hardening of surfaces • Promotion of eco-system services • Data availability & education • Investment & insurance solutions • Underwriting & lending criteria • Partnerships with authorities, also at local level • UN Principles of Responsible Investment • UN Principles for Sustainable Insurance

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