The Resilient Valuation Initiative, initially spearheaded by Australian Business Roundtable for Disaster Resilience and Safer Communities, brought together diverse stakeholders to explore opportunities to improve resilience valuation, including standardisation of methods of quantifying and measuring the value of resilience.
As the adaptation and resilience landscape has developed in recent years, work has been underway to map the resilience valuation landscape and identify barriers to investment in resilience. This has led to a shift in the Initiative’s role and purpose, focusing instead on building capability across sectors to use and apply the tools and methodologies already available to improve decision-making about when, where and how to invest resilience. To reflect this broader aim, the Resilience Valuation Initiative is now operating as the Resilient Futures Investment Roundtable (the Roundtable).
This rebranding reflects the collective, cross-sectoral effort aimed at creating a climate-resilient future where valuing the comprehensive costs and benefits of resilience becomes the norm. By leveraging the existing tools and methodologies, the Roundtable aims to create a future where the value of resilience is integrated into practices and decisions, so that both public and private investments achieve the best possible outcomes for communities, businesses and the environment.
Next Steps:
The Resilient Futures Investment Roundtable aims to improve the way resilience is valued in investment decision-making by building capacity to identify and use tools that take a systemic approach to quantify the broad economic, social, environmental and governance benefits of interventions.
The Roundtable provides a forum for cross-sector capacity building, knowledge sharing and identifying potential opportunities for collaborative partnerships on complex challenges.
Members are also working together to co-create guidance materials, practice cases and supporting resources and learning opportunities. These resources are being designed to enable organisations to understand and navigate the landscape of valuing resilience, and access examples of organisations who are using robust tools to improve decisions about when, where and how to invest in resilience.
By building capability across sectors and sharing guidance and practical examples of how the costs and benefits of resilience can be identified and relied on when making investment decisions, we aim to achieve several outcomes:
• Organisations are better equipped to work in innovative ways to pilot projects and test methodologies that aim to improve how the costs and benefits of resilience are valued, and embed this into decision making processes.
• More organisations have greater capacity and capability for application of the tools and methods to take a systemic approach to valuing resilience,
• More organisations can reliably measure the benefits of resilience, allowing for greater confidence in making investment decisions into resilience activities and infrastructure. and
• Organisations have increased accountability for decision-making, with greater transparency around resilience considerations.
In the longer term, the Resilient Futures Investment Roundtable seeks to make resilience valuation a normal part of the process of deciding when, where and how to invest public and private capital in resilience-building projects by co-producing guidance materials, case studies and supporting materials.
For more information on our approach, you can read Statement 4.