Working Group on Climate Adaptation

Financial risks of climate change

Companies, governments, banks, insurers and investors face financial risks due to climate change. Such risks include the physical and transition-related consequences of rising sea levels, more frequent extreme weather, greater water discharge through the rivers, severe drought and soil subsidence. The business community, the financial sector and the government are therefore considering how to adapt the economy to climate change. 

Working Group on Climate Adaptation

The Working Group on Climate Adaptation investigates how best to help adapt our economy to climate change through insurance, investment and finance. The working group looks at the scenarios, methods and data the financial sector needs to assess the physical impact of climate change on the economy and identifies finance and insurance solutions. Examples include particular forms of insurance, risk sharing, guarantees and public-private partnerships, which also create opportunities for a greener, more pleasant and above all future-proof living environment. Banks, insurers, real estate investors and the government have joined forces in this working group. 

Recommendations and pilot projects

The working group has examined climate trends and performed various sector-specific impact analyses. Likewise, it has identified sector-wide opportunities for public-private adaptation finance and issued recommendations aimed at overcoming current bottlenecks. The working group has published its findings and recommendations in the report Accelerating climate adaptation. It explores joint actions and seeks further partnerships with Dutch central and local governments in the form of pilot projects.

Partnering solutions

Opportunities for collaboration using the tools available to financial institutions and governments in each domain or sector. Based on: Nederland klimaatbestendiger maken: Welke rol spelen financiële instellingen? (Climate-proofing the Netherlands: What role do financial institutions play?)
© Samen Klimaatbestendig

About the working group

The working group was set up in June 2022. Starting this year, NextGreen supports the Working Group. Following the publication of the ‘Accelerating climate adaptation’ report, the working group has entered a new phase. We have adjusted the group's structure, and there have been changes in our membership. The working group is divided into five clusters:

• Communications
• Housing
• Firms
• Data
• Investments

The report's recommendations have been assigned to the clusters. The clusters are now looking for pilot projects to implement and support the recommendations. Initial exploratory talks have begun.

The cluster leaders meet with government representatives in coordination consultations to monitor progress and select relevant pilot projects.

We will publish quarterly updates about our plans on this webpage.

The working group’s current members are representatives from: ABN AMRO, Achmea, Agriver, Altera Vastgoed, APG, a.s.r., AXA XL, BPD, Donatus, ING, Vereniging van Institutionele Beleggers in Vastgoed Nederland (IVBN), Ministry of the Interior and Kingdom Relations, Ministry of Infrastructure and Water Management, Ministry of Agriculture, Nature and Food Quality, Nationale-Nederlanden, Nationale Hypotheek Garantie (NHG), NWB Bank, Dutch Banking Association (NVB), Pensioenfonds Rail & OV, Philips Pensioenfonds, PwC, Rabobank, Delta Programme Commissioner staff, Stimuleringsfonds Volkshuisvesting (SVn), TU Delft/Resilient Delta, Dutch Association of Insurers.

It is chaired by Gijs Kloek from Achmea.