Resilience Monetization and Credits Initiative: A Background Paper
Abstract
Addressing climate change requires urgent and innovative action aimed at both mitigating its effects and addressing its most severe impacts. However, current investment levels are insufficient to match the escalating climate risks and damages. Despite the annual target of $100 billion established at the 2009 United Nations Climate Change Conference/Conference of Parties, climate finance directed to low- and middle-income countries continues to lag behind stated goals. Adaptation efforts are especially underfunded, with investment falling short by a significant margin, estimated at 5 to 10 times the actual need. This document has been developed as part of an endeavor to propose an innovative solution—the Resilience Monetization and Credit Initiative— aimed at bridging the gap in resources made available to those most urgently in need of climate adaptation finance. Under this initiative, resilience credits are introduced as a novel asset class designed to align public and private capital to deliver improved resilience to the communities most vulnerable to climate impacts, while also ensuring equitable benefit sharing.
This paper is part of a series of work under the Resilience Monetization and Credit Initiative project, led by the James E. Rogers Energy Access Project, which aims to close the finance gap for those urgently needing climate adaptation finance by developing innovative methods to measure and monetize adaptation and resilience benefits.
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Al-Mashat, Rania, Marc Jeuland, Jyotsna Puri, Pablo Vieira, Mahinour Aboulatta, Saib Ahmad, Jahan-Zeb Chowdhury, Alejandro Diaz-Herrera, et al. (2024). Resilience Monetization and Credits Initiative: A Background Paper. Retrieved from https://hdl.handle.net/10161/31684.
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Scholars@Duke
Marc A. Jeuland
Marc Jeuland is a Professor in the Sanford School of Public Policy, with a joint appointment in the Duke Global Health Institute. His research interests include nonmarket valuation, water and sanitation, environmental health, energy poverty and transitions, trans-boundary water resource planning and management, and the impacts and economics of climate change.
Jeuland's recent research includes work to understand the economic implications of climate change for water resources projects on transboundary river systems, a range of primary data collection projects related to analysis of adoption of environmental health improving technology, and analysis of the costs and benefits of environmental health interventions in developing countries. He has conducted multiple field experiments on issues such as: the role of water quality information in affecting household water and hygiene behaviors; the demand for, and impacts of cleaner cookstoves on household well-being; the long-term sustainability and effects of rural sanitation and water supply projects. He has also collected data on preferences for a range of environmental health improvements including cholera vaccines, household water treatment technologies and improved cookstoves. In the energy and development domain, he is currently working on several projects with the Energy Access Project at Duke, and is a co-founder of the Sustainable Energy Transitions Initiative (SETI), along with Professor Subhrendu Pattanayak and scholars from Chile, China and Ethiopia. His energy portfolio includes work related to evaluation of cleaner cooking interventions, measuring energy access and reliability, and reviews of the drivers and impacts literature related to energy.
Jeuland has worked in the past with the World Bank, USAID, the Millennium Challenge Corporation, UNICEF, and many field-based NGOs and community-based implementing organizations.
Prior to his graduate studies and work with the World Bank, Jeuland was a Peace Corps volunteer in Mali, West Africa, where he designed and monitored construction of a pilot wastewater treatment system and trained management personnel at the plant’s managing firm.
Jonathan Phillips
Jonathan Phillips is the Director of the James E. Rogers Energy Access Project at Duke University, with an appointment at the Nicholas Institute for Energy, Environment & Sustainability. His work focuses on policy, regulatory, and economic issues related to rural electrification, grid de-carbonization, off-grid energy systems, and energy for productivity.
Phillips was the senior advisor to the president and CEO of the Overseas Private Investment Corporation during the Obama Administration, helping scale-up the agency’s climate finance capabilities and lead the implementation of strategic initiatives, including the agency’s $2.1 billion Power Africa portfolio.
Before that, Phillips led private sector engagement and programming with Power Africa at USAID, helping ramp-up the $300 million presidential initiative into one of the largest public-private development partnerships in the world.
From 2007-2014, he held a variety of roles in the U.S. Congress, most recently serving as the senior policy advisor to Senator Ed Markey of Massachusetts. He supported many notable legislative efforts, including serving as one of the lead authors of the Waxman-Markey cap-and-trade bill that passed the House in 2009. He also served on the House Select Committee on Energy Independence and Global Warming as well as the House Natural Resources Committee.
Phillips was a business and economic development volunteer with the Peace Corps in Mongolia. He received a bachelor’s degree from the Milwaukee School of Engineering and a master’s degree in public policy from the Harvard Kennedy School.
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