Based on our experience with climate adaptation and biodiversity within the financial sector, we advocate climate resilience as an opportunity and outline three policy measures for the new EU framework.

Climate resilience as an important economic opportunity

A climate-resilient Europe is more robust and competitive. Strengthening climate resilience can unlock hundreds of billions of euros in investment opportunities. By identifying where these opportunities lie, such as in making business parks, infrastructure, vulnerable neighborhoods, and agriculture climate-resilient, Europe can strengthen its economic position while accelerating the transition to climate resilience.

Three policy measures for risk awareness and collaborating on opportunities

1. Clarify resilience targets and roadmaps
   Specify what needs to be achieved and when, and which actors are suitable for achieving this. Based on these targets, establish binding agreements at Member State level, followed by sector-specific guidance and appropriate instruments for companies.
2. Develop new instruments and incentives
   Provide support and tools to help determine and apply the physical and social measures needed to achieve the objectives. Clarify, within the scope of their possibilities, what individuals and businesses can do themselves and support this with aligned tax incentives.
3. Facilitating collaboration
   Strengthen collaboration between financial institutions at EU level so that effective solutions, such as the French Barnier Fund, can be quickly adopted in other Member States. In addition, strengthen collaboration between (local and central) governments, financial institutions, the business community, and citizens.

Resilience by Design and risk ownership

We applaud the initiatives on Resilience by Design (RbD) and risk management. RbD can be applied in sectors such as housing and buildings, agriculture, infrastructure. Consequently, it can, also be applied in the financial sector, which supports the wider economy. Making this a success will require broad collaboration and clear risk ownership. In our consultation response, we provide examples where we believe that effective collaboration has been achieved and in which we are, or have been, involved.

Our work on climate adaptation, biodiversity, and sustainable finance

NextGreen supports and initiates various collaborative processes in the field of climate adaptation and biodiversity, such as the Adaptation Alliance with Dutch and Flemish municipalities and the Climate Adaptation Working Group within the Dutch Platform for Sustainable Finance.

For more than ten years, NextGreen has also been facilitating collaboration in the field of biodiversity, including leading the Finance & Biodiversity Community under the EU Business and Biodiversity Platform and co-founding the Finance for Biodiversity Pledge and Foundation.

Across these networks, we see a strong and growing links between climate adaptation and biodiversity, as well as and increasing uptake of both themes in the EU market. Our response to the EU consultation is grounded in these developments, reflecting our role as network facilitators and process managers of collaborative sustainable transitions.

The response to the consultation was drafted by Anne-Marie Bor, Martha Bailon (NextGreen), and Bouke de Vries (Climate Finance Expert).

We look forward to continuing the dialogue on how Europe can build a climate-resilient and competitive economy, and we are curious to see how the framework will take shape in the coming months.