The Policy & Practice of Climate Change & Water

Nature-based solutions

Water Criteria Phase 2 "Nature-based and Hybrid Water Infrastructure" Opens for Public Consultation

LONDON: 19/10/2017: 16:00 BST
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Water Consortium Moves to Next Phase in Water Standards Development

The Climate Bonds Initiative on behalf of the Water Consortium has released Water Criteria Phase 2 Nature-based and Hybrid Water infrastructure for public consultation.

The Water Criteria is part of the overarching Climate Bonds Standard which provides investors with a verifiable, science-based screening process to evaluate bond investments bringing climate mitigation, vulnerability assessment and adaptation planning to the fixed income investment space.

The Water Criteria lay out the requirements that water infrastructure assets and/or projects must meet to be eligible for inclusion as a Certified Climate Bond. They provide a means for investors to easily categorise and prioritise water infrastructure projects against climate impacts and climate resilience factors.

The Criteria have been developed in two phases:

Phase 1 Criteria, covering engineered water infrastructure, were released by the Water Consortium to the market in October 2016.

Phase 2 Criteria have a focus on nature-based and hybrid water infrastructure, such as wetlands and watersheds including for purposes as water collection, storage, treatment and distribution, flood protection and drought resilience.

The Phase 2 Criteria aim to:
I. Certify water infrastructure that are compatible with a 2°C trajectory
II. Ensure these assets and the surrounding ecosystem are adaptive and resilient to a changing climate

Water Phase 2 Criteria have been developed throughout 2016 and 2017 by a Technical Working Group (TWG) and Industry Working Group (IWG), convened by the Climate Bonds Initiative, Ceres, CDP, the World Resources Institute (WRI) & the Alliance for Global Water Adaptation (AGWA) acting in collaboration as a Water Consortium. AGWA is supported by the Stockholm International Water Institute.

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Harnessing Nature to Manage Rising Flood Risk

Press Release from WWF

WASHINGTON, D.C. (24, May 2017 - 8:00am ET) – Worldwide, flood risk will continue to rise as cities grow larger and rainstorms become more intense, making conventional engineering insufficient as the sole approach to flood management. “Natural and Nature-Based Flood Management: A Green Guide” released today by WWF, introduces an integrated framework for flood management, drawing on policy, green infrastructure and conventional engineering to help communities adapt and better manage growing flood risk.
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AGWA and SIWI Join EU Horizon 2020 Project on Nature Insurance Value: Assessment and Demonstration (NAIAD)

Earlier this month, AGWA and SIWI participated in a series of kick-off meetings in Valladolid, Spain for a new three-year EU project called Nature Insurance Value: Assessment and Demonstration (NAIAD). The project is coordinated by the Duero River Basin Authority and funded under the European Horizon 2020 Program. The goal of the project is to operationalize the insurance value of ecosystems to reduce the human and economic cost of risks associated with water (floods and droughts) by developing and testing - with key insurers and municipalities - the concepts, tools, applications and instruments (business models) necessary for its mainstreaming. Over 25 organizations from around 13 countries took part in the kick-off meetings.

AGWA and SIWI will contribute to the policy & mainstreaming, communications & dissemination, and basins models & financing instruments components of the project over the coming months and years.
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