The independent Land, Nature and Adapted Systems (LNAS) Advisory Group has finalised its framework defining adaptation and resilience-enabling investments, with the aim of mobilising adaptation finance and increasing resilience to climate risks. In its report, ‘Framework to develop a UK Green Taxonomy for adaptation and resilience’, LNAS proposed a five-step approach to defining adaptation investments and establishing practical, outcome-focused criteria. The LNAS Advisory Group, spun off from the Green Technical Advisory Group (GTAG), was tasked with advising the UK government on how to develop adaptation and resilience within a UK Green Taxonomy. To illustrate how the framework can work in practice, the report included a ‘cities and settlements’ example, demonstrating how to address critical risks such as urban heat stress and flooding. “To date no country has yet developed an adaptation taxonomy that starts with the outcome we need to see – which is a real economy adapted to the climate change that is already here and yet to come,” said Ingrid Holmes, Executive Director at the Green Finance Institute and former GTAG Chair. “The first principles-based approach described in this paper aims to do just that, providing a framework to support the mobilisation of finance into resilience and adaptation-focused investment, starting with the built environment.” In November, the UK government announced a consultation on the value case of a UK Green Taxonomy, and has identified sustainable finance as one of the five priority growth opportunities for the UK.
