Unlocking the resilience dividend
Bridging a $15+ trillion infrastructure gap by 2030, cities, governments and the private sector need to build resilient infrastructure that will address design, delivery and outputs in an integrated and coordinated process in the face of threats from climate, pandemic recovery and equity challenges.
While there is an additional cost to embedding resilience in projects, sometimes estimated at 15-20%, with the right approach this can translate into a tangible resilience dividend through enhanced infrastructure performance and benefit across its lifespan.
Unlocking that dividend as a resilience return on investment requires a coordinated framework for projects to measure and integrate key inputs for climate impacts, linking them to environmental and community benefits. Understanding and developing metrics for the resilience return on investment is a key element of this in accessing finance and ensuring optimum resilience performance across a project’s lifespan.
Wood’s ResilienceLensTM is an interactive web-based screening tool that has been developed in collaboration with the Rockefeller Foundation and the Resilient Cities Network – and in partnership with Impact Infrastructure and Social Finance – to measure the resilience value of projects and identify requirements and outputs that projects need to incorporate to adapt to shocks and stresses, deliver reliable performance, generate co-benefits to communities and accelerate implementation of projects to build back better.
It has been developed to achieve several key development goals:
- To promote and facilitate the development of resilient infrastructure projects to maximize their potential value and deliver co-benefits
- To highlight and mobilize public and private investment from institutional sources of capital into the urban resilience infrastructure sector
- Support cities and organizations better apply and prioritize capital budgets to projects for impact
- Provide key outputs that can support ESG and TCDF reporting along with outputs to advance the resilience dividend for projects and key sectors
- Improve the delivery of resilience across the lifecycle of projects
- Provide clear and measure actions to remake and improve projects that can be resilience and support a just and resilient recovery
The ResilienceLensTM comprises a multi-stage assessment and linked infrastructure project database which can be used to quantitatively assess and query a project’s ability to meet fulfil the requirements and functionality of resilient infrastructure based on a range of principles and metrics. It facilitates a user-driven assessment that can be used to pre-screen and rank multiple projects in an objective manner, scoring each project using a resilience-based multi criteria framework.
Project and asset owners can use the screen to provide a rapid and robust determination of their project’s resilience, providing essential insights to inform the design, delivery and eventual decommissioning of asset across the project lifecycle.
Project financers and investment institutions, as well as city leaders, whose primary interests is the identification of viable and bankable projects to enhance urban resilience, can also leverage and apply the ResilienceLensTM screen to their project portfolios. This may extend to cities identifying and apportioning Capital Investment Program (CIP) budgets or to attract new investments for priority projects.
ADAPT for resiliency
A framework for transformation
Wood’s ResilienceLensTM is a fully integrated and critical enabler of this ADAPT process, unlocking the opportunities and underpinning the achievement of resilient developments across industry, cities and critical infrastructure. For additional information about the ResilienceLensTM or to access the tool, get in touch.