The Regions Readiness for Climate Investment (RRCI) Review is an innovative tool that provides an independent and transparent assessment of a region’s readiness for increased investment in climate-related projects. It provides key data and focuses attention on risks and opportunities that are most relevant for discussions with long-term investors.
The RCCI Review assesses risks and barriers to climate-related investment at the regional level. Regional governments will be fully involved in the discussion with investors on upgrading their sub-national frameworks to ultimately set the pace for increased private investments in regional programmes and projects.
The review will set out issues and parameters designed to address various risk concerns identified by investors and specific to the region. Established indicators and benchmarks for individual aspects will be incorporated into the review (for example World Bank business-friendly rankings and commercial ratings of local finance), to the extent possible.
The indicators will also build on, wherever possible, other established but narrower systems such as the Carbon Disclosure Project and the Global Reporting Initiative The RRCI Review is also intended to take into account the good practice guidance of major financing institutions such as International Finance Cooperation.
The RCCI Review is a structured and concise summary addressing key concerns raised by investors when financing climate related projects. The review provides a snapshot of the current strengths and opportunities of the region in the context of moving to a more resilient and sustainable economy. The review will also demonstrate a region’s policies and practical systems that encourage low carbon investments and support climate friendly and environmentally sustainable growth.
The RRCI Review is supported by a concise report that explains the information and reasoning behind the perceived and/or actual risks and the resulting findings. This report will provide the basis for working with the region to address its issues, thereby ensuring an improvement in the region’s readiness for climate investments.