2. What is the key issue? Risks Potential solution

4. A need for an integrated lifecycle view of urban development:  greater involvement by the financial industry in the built environment  to make the built environment a more resilient environment in which to invest, lend to and insure  collaboration between financiers, developers, local authorities and insurers  will allow for better management of risks

6. Changing climate risks and weather patterns Linked to location/area and materials risk Response is time-sensitive: risks are real, already in the system and multiplying Incapacity and inability of the built environment to easily adapt and build resilience to these risks Unsustainable built environment portfolios – risk to financial and property sectors, general business, government and society Risk transfer will not be sufficient to cover the increasing levels of risk in the system Incapacity of local authorities to play their roles in development and protection

8. Challenge is how to effectively work together across sectors  Lack of shared understanding of what is meant by sustainable and resilient  Many decision-makers do not understand the benefits/risks involved System interdependencies need to be better understood  Where does risk accumulate?  Where is there dependence on critical infrastructure providers?  How is this identified and managed? Finance sector needs to identify, advocate and incentivise the correct risk reduction actions and investments  Risk analysis & understanding of risk drivers are needed

9. The implementation of a number of small solutions is likely to have a bigger impact than a “silver bullet” solution  Do the basics first to catalyse change  Study the work done by others and apply lessons learnt  Innovate  Collaborate on shared risks Education and awareness across sectors:  To encourage improved risk awareness  To improve decision-making Capacity building at local authority level

10. A sensible and collaborative ESG response to the built environment is required:  Responsible investments  Reduction in the hardening of surfaces  Promotion of eco-system services  Data availability & education  Investment & insurance solutions  Underwriting & lending criteria  Partnerships with authorities, also at local level  UN Principles of Responsible Investment  UN Principles for Sustainable Insurance