Adaptation and Resilience


1. Climate Bonds Standard V2.1
2. Climate Bonds Standard & Certification Scheme Brochure


November 2018: AREG Launched    

June 2019: Adaptation and Resilience Principles to be released for Public Consultation

1. Climate Bonds Launches AREG - New Stage in Standards Development

Any questions on Adaptation and Resilience?

Please Contact Ujala Qadir at:

What is Adaptation and Resilience?

Climate risks and the need to build climate adaptation and resilience (A&R) capacity present new opportunities, in both developed and developing countries. There is a need for A&R innovation across a range of sectors. Such innovations include water-efficient technology, drip irrigation, wind-, flood-, and heat-resilient building materials, new financial and insurance products, early warning systems, drought-resistant seeds, and new health products, among many others.

The private sector can also gain many non-financial benefits by investing in A&R, in the form of enhanced liability management, increased reputation among local communities, and employee protection.

To date, green bonds have focused primarily on mitigation efforts with a lesser emphaisis on adaptation. Robust criteria for mitigation for several sectors have already been developed under the Climate Bonds Standards, but strategic guidance is needed for introducing A&R criteria across all sectors in a consistent and systematic manner. 

The Adaptation and Resilience Expert Group (AREG) 

Climate Bonds convened an Adaptation and Resilience Expert Group (AREG) to discuss and develop the A&R Principles, which will provide high-level guidance for determining when projects and assets are compatible with a climate resilient economy, and therefore should be certified under the Climate Bonds Standard.

The A&R Principles will provide the framework under which sector-specific A&R Criteria will be subsequently developed by sector based Technical Working Groups (TWGs), following review by the AREG. For the sectors that already include A&R Criteria, the AREG will evaluate their fit with the framework and provide recommendations on alignment. For the new sector criteria under development, the AREG will provide guidance to ensure alignment with the framework.


Members of AREG
Biographies of current members of the Technical Working Group are available here. You can read more about the AREG development process in our November 2018 Blog Post here
Alfredo Redondo
Senior Manager: Adaptation Diplomacy
C40 Cities Climate Leadership Group
Neuni Farhad
Project Officer: Adaptation Research
C40 Cities Climate Leadership Group
Stacy A. Swann
CEO and Founding Partner
Climate Finance Advisors, Benefit LLC
Federico Mazza
Adaptation Lead
Climate Policy Initiative
Karoline Hallmeyer
Climate Policy Initiative
Joyce Coffee (AREG Lead) 
Climate Resilience Consulting
Carel Cronenberg
Associate Director: MRV Manager

European Bank of Reconstruction and Development
Craig Davies
Head of Climate Resilient Investments

European Bank of Reconstruction and Development
Cinzia Losenno
Senior Climate Change Specialist
European Investment Bank
Emilie Mazzacurati
Founder and CEO
Four Twenty Seven
Josh Sawislak
Strategic Advisor
Four Twenty Seven
Kevin Smith
Vice President
Goldman Sachs
Carmen Lacambra Segura
Partner and Founder
Grupo Laera
Nathanial Matthews
Program Director
Global Resilience Partnership
Swenja Surminski
Senior Research Fellow
Grantham Research Institute
Celeste Connors
Executive Director
Hawaii Green Growth
Vladimir Stenek
Senior Climate Change Specialist
Jay Koh
Managing Director
Lightsmith Group
Aris Papadopoulos
Founder of Resilient Action Fund
Resilience Action Fund, UNISDR-ARISE
Kevin Bush
Chief Resilience Officer
Washington D.C. Government
Miroslav Petkov (AREG Observer)
S&P Global
Richard J.T. Klein
Senior Research Fellow
Stockholm Environment Institute
Jenty Kirsch-Wood
Senior Technical Specialist - DRM and CCA
Peter Wheeler
Executive Vice President
The Nature Conservancy
Michael Cote
Project Director, Private Investment for Enhanced Resilience
Winrock International
Carlos Sanchez
Director, Climate Resilience Finance
Willis Towers Watson
Stephane Hallegatte
Lead Economist, GFDRR
World Bank
Moushumi Chaudhury,
Associate of Climate Resilience Practice
Niranjali Amerasinghe
Senior Associate of Sustainable Finance Center
Karl Mallon