The cost of inaction is priced. The value of action is not.
Physical climate risk is reshaping insurance, lending and asset values. Yet the value of reducing that risk rarely reaches the decisions that allocate capital.
[A] / VALUE
Value avoided losses.
Practical approaches to assessing the financial value of adaptation and resilience, grounded in risk and loss data.
[B] / CONNECT
Bridge risk and capital.
Bring insurers’ risk insights into credit assessments, investment decisions and long-term portfolio strategy.
[C] / TRANSLATE
Turn insight into instruments.
Translate evidence into practical frameworks, shared resilience measures and pilot-ready financial structures.
RIDGELIGHT ADVISORY / PAPER / 2026
Turning avoided loss into financial gain
Valuing investments in adaptation and resilience
[02] / FEATURED PAPER
Turning avoided loss into financial gain.
Markets already price the cost of physical risk. They rarely price the value of reducing it. The paper looks at why the benefits of adaptation are missing from pricing and valuation, and sets out priorities for policymakers, insurers, banks and market infrastructure.
Avoided losses are invisible in the historical loss data that risk models rely on.
The methods and data largely exist. What is missing are the commercial and data-sharing arrangements that would get insurers’ risk insight to credit and investment decisions.
Priorities for action for policymakers, financial institutions and market infrastructure, plus a catalogue of adaptation finance instruments.
Jeremy works at the intersection of climate risk, sustainable finance and public policy, drawing on experience at the Institute of International Finance and the United Nations Environment Programme.
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His work at the IIF covered climate risk assessment, disclosure and sustainable finance policy, connecting financial institutions with international standard setters, governments and regulators.
At UNEP, he led sustainable finance programmes, headed the Secretariat of the Sustainable Insurance Forum and co-founded the International Network of Financial Centres for Sustainability (FC4S). Through the UNEP Inquiry, he supported the G20 Green Finance Study Group and contributed to national sustainable finance strategies.
His earlier career spans management consulting and academic research on climate risk and stranded assets. He holds a master’s degree in environmental management from the University of Oxford, specialising in energy economics, and a bachelor’s degree in economic geography from the University of British Columbia.
