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24 June 2021

Climate resilient infrastructure: Procurement and financing implications

Contributing Editor
Power, Renewables
WEBINAR: 5 August 2021 at 3pm UK/10am NY. To what extent do procurement processes, concession structures and financing documents accommodate the effects of climate change?

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Climate change has had profound effects on the development and financing of energy assets. Renewable energy is on course to overtake oil & gas as a source of project financing volumes. Coal-fired power development and financing is slowly grinding to a halt. Upstream and midstream oil and gas operators are finding it incrementally harder to raise capital.

These are all positive contributions from the project finance market towards mitigating the effects of climate change. But the climate change that is now unavoidable will create big challenges for owners of, and lenders to, infrastructure assets. Policymakers are aware of these challenges, but to what extent do procurement processes, concession structures and financing documents accommodate the effects of climate change?

Lenders and developers have become increasingly adept at identifying the positive and negative impacts of projects on the environment. But their ESG processes increasingly have to identify physical threats to infrastructure assets from extreme weather, and look at what climate change might mean for demand for power and transportation infrastructure.

Governments will need to look at whether the specifications for essential infrastructure are resilient enough to the effects of climate change, and whether future and existing concession agreements need to cover the impacts of climate change. They may even need to procure infrastructure that makes societies economies and their essential infrastructure more resilient.

Joining Proximo for this webinar will be:

Thomas Hopkins, Proximo (Moderator)

Jonathan Yellen, investment director at OGCI Climate Investments

Landis Knorr, senior underwriter, GCube

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