Insights from GARI Working Group Meeting at NY Climate Week 2022

GARI Working Group Meeting During NY Climate Week 2022 Presented to: GARI Participants Hybrid: In Person and Zoom Videoconference 19 September 2022 1

Meeting Agenda +Date/Time: 9:00 to 11:30 pm EST on Monday, 19 September 2022 Time Agenda Item 9:00 9:05 Welcome & Introductory Remarks (GARI Chair Jay Koh) 9:05 9:15 GARI Participant Introductions Discussion Session I: State of Investment in Resilience - Investor Panel discussion led by Emilie Mazzacurati 9:15 10:15 10:15 10:30 Break and networking Discussion Session II: Paths Forward for Resilience Investments Moderator: Lori Collins, GARI Strategic Advisor 10:30 11:00 11:00 11:25 Discussion Session III: Updates on adaptation and resilience initiatives 11:25 - 11:30 Wrap up and Next Steps: GARI Chair Jay Koh * Note: Upon logging on to the platform, you will initially be placed in a Zoom waiting room where a GARI team member will then grant you entry into the videoconference. 2

Discussion Session I: Investor Panel Moderator: +Emilie Mazzacurati, GARI Advisory Board Panelists: +Climate Bonds Initiative - Sean Kidney +Institutional Investors Group on Climate Change (IIGCC) - Danielle Boyd +Macquarie - Liam Gallagher +J.P. Morgan - Tanya Barnes +Nuveen - Radhika Shroff +The Lightsmith Group - Jay Koh 3

Discussion Session II: Key Themes for 2023 +GARI 2022 Discussion Paper +Where We Are + State of Investment in Adaptation and Climate Resilience +What Investors Really Think + GARI 2022 survey results and convening summaries +Where We Are Going + Potential paths forward for resilience investing + GARI s role in supporting these paths + Case Studies: Waterfront Resilience, Emerging Markets 4

Discussion Session II: GARI 2022 Survey Highlights GARI 2022 Survey - Key Take-Aways 1. Clear metrics are important to driving more investment in resilience. 57% attracted by investable products; 57% interested in climate tech; 60% in climate solutions 53% enabled by clear metrics for resilience impacts 67% recommended developing metrics for resilience 2. Adequate decision-making tools are important to driving more investment in resilience 50% need adequate decision tools, such as pricing for climate risks in project return calculations 67% recommended pricing climate risk into investments 3. Creating a practical framework for risk screening would potentially offer a more visionary, less quantitative path 87% desire a practical framework 4. Emerging importance of social impact as a driver for attracting capital 30% motivated by attracting capital from ESG/Impact investors 37% motivated by ESG/DEI goals Other motivations centered on social impact 5

Discussion Session II: Whats Next? GARI 2022 Discussion Paper: Paths Forward for Resilience Investing 1. Metrics development and standards for risk management and opportunity assessment 2. Pricing as a key decision tool to help overcome hurdles to investment 3. Practical framework, potentially through a macro view looking at an end- game vision by key sectors such as food, transport, buildings, energy (eg: Project Drawdown for resilience) 4. Social impact focus - environmental justice and need to incorporate equity 5. Incorporating resilience into net-zero initiatives and goals 6

Discussion Session II: Whats Next? What role can GARI in facilitating paths forward for resilience investing? GARI is a peer-to-peer learning and expert networking community with a mission to catalyze investment in resilience. GARI s vision is to provide education, research and resources to build awareness and capacity in the private sector towards our mission. What resources are needed? Program Director for partnership development, member engagement (speakers, working groups), convenings, advocacy Travel budget for presence and advocacy at key industry events Meetings budget for space, technology support, etc. Communications resources for branding, messaging, media relations and content development for blog, website, stakeholder communications, PR, event promotion and logistics. What will GARI do? What won t GARI do? GARI Strategic Plan GARI Will Do GARI Will NOT Do Broaden and deepen the GARI stakeholder network -Convenings & side events -Online event promotion -Partnership development Paid advertising Expand and deepen thought leadership and information dissemination -Polls - Surveys -Webinars - Website -White papers - Interviews -Case studies - LinkedIn -Short thought pieces / PR Primary quantitative research Focus on identification and development of new climate resilience investment instruments -Webinars -Working groups Invest in companies Endorse products 7

Discussion Session III: Participant Initiative Updates +Brief updates from GARI participants on current initiatives + Andrew Eil, Tata Consulting update on GARI Virtual Speaker Series collaboration + Eugene Montoya, Waterfront Alliance GARI case study for UNIDO working group + Other partnership updates +Feedback & Next Steps 8

Wrap Up and Next Steps +GARI 2022 Discussion Paper + Drafted awaiting today s input + Final content - October + Release at COP27 in November +GARI Virtual Speaker Series + October 20th Waterfront Resilience + November 10th Financial Accounting for Resilience +COP27 in November + GARI side events in Egypt +Next GARI Convening + January 2023 9