Baroness Chapman’s Inspiring Opening Speech at the June 2026 Climate Resilience Finance Summit

Collaboration is Key to Climate Resilience

It is a genuine pleasure to participate in the Climate Resilience Finance Summit, as mobilising finance for climate resilience on a significant scale necessitates collective effort. This is not a challenge that governments can tackle in isolation.

At its essence, our task is to transform our shared ambitions into tangible actions. We must remain steadfast in our commitment to limit global temperature increases, while simultaneously confronting the urgent and growing impacts of climate change and biodiversity loss that are already being experienced worldwide.

The last decade has set records as the hottest period in history. Events like today serve as stark reminders that climate change is not a distant threat; it is already affecting our daily lives and our health. The increasing frequency and severity of floods, heatwaves, droughts, and wildfires are alarming indicators of this reality. Furthermore, the latest forecasts regarding El Niño suggest that we may face difficult months ahead.

While climate change touches every nation, including the UK, it is the developing countries that bear the brunt of its impact. These vulnerable communities find themselves at the forefront of climate-related challenges.

The Urgency of Investment in Resilience

This sobering situation underscores the critical need for investment in resilience. However, current global investment levels fall woefully short, amounting to less than a tenth of what is necessary. This gap represents not only a developmental hurdle but also a risk to global economic growth, security, and stability.

Nonetheless, it also presents a substantial economic opportunity. Investments aimed at enhancing resilience can stimulate growth, boost productivity, and ensure long-term stability.

Research indicates that every dollar spent on resilient agriculture, water management, infrastructure, and health can yield returns exceeding tenfold. Thus, investing in resilience is not only the right course of action but is also aligned with the interests of all stakeholders involved.

International public finance plays an indispensable role in this context, especially in supporting the most vulnerable populations and facilitating large-scale private investments.

It is encouraging to know that Minister Caroit will be joining us later today, as France has been spearheading significant initiatives in this area during its G7 Presidency. I had the opportunity to work alongside Minister Caroit in Lebanon last week, and I can attest to her and the French Government’s deep commitment to this cause.

Looking Ahead: UK’s G20 and COP Presidencies

As we look forward to our upcoming G20 Presidency next year, we will collaborate with His Excellency Minister Şimşek and the Turkish COP31 Presidency, along with Dr Aklilu, CEO of COP32, to accelerate action through the COP process.

This week, we unveiled our strategy for the next phase of UK International Climate Finance, utilising the full spectrum of UK resources—both Official Development Assistance (ODA) and non-ODA—to address climate change and biodiversity loss, enhance food and water security, alleviate poverty, and, crucially, build resilience.

However, we recognise that public finance alone will never suffice. It is imperative that we embed resilience into our economies, with governments, financial institutions, investors, and businesses all playing their respective roles collaboratively.

Creating the Right Conditions for Investment

For governments, establishing appropriate policy frameworks and incentives is essential. For investors and businesses, it involves identifying significant opportunities across sectors such as finance, insurance, and agri-tech.

To unlock these opportunities, we must rethink how resilience is valued and priced. This critical topic was explored extensively at the recent Global Partnerships Conference in London, and we will continue this dialogue today, with a strong emphasis on actionable outcomes.

It is crucial to ensure that investment decisions take climate risks into account. Financial markets must recognise advancements in resilience when evaluating and pricing these risks, while also preparing for shocks when they occur.

Scaling Pre-Arranged Finance for Better Preparedness

A vital aspect of this strategy is the scaling of pre-arranged finance. Currently, a mere 2% of crisis finance is pre-arranged, despite the fact that 35% of crises are foreseeable. This situation must be rectified.

The recent $662 million payout to Jamaica following Hurricane Melissa demonstrated that pre-arranged finance can be effective and prompt, aiding in longer-term recovery efforts. However, this response was insufficient, and there is significant room for improvement.

In this vein, the UK is collaborating with multilateral development banks and the insurance sector to significantly enhance these approaches.

New Initiatives to Support Climate-Vulnerable Nations

Today, I am pleased to announce a new £3 million contribution from the UK to the Natural Disaster Fund Technical Assistance Facility. This funding will assist in developing insurance solutions for climate-vulnerable nations, fostering investment and promoting resilient growth where it is most needed.

To effectively prepare for climate shocks, it is imperative that we monitor forecasts, pre-position finance, and have risk insurance in place. Proactive measures are far more effective and cost-efficient than responding after a disaster has occurred.

This week, we are also launching a new partnership with the Met Office, aimed at enhancing access to advanced forecasting and UK expertise for countries across Africa, the Middle East, and the Indo-Pacific. Additionally, we are introducing a £39 million research programme, ‘SCALE’, which focuses on practical solutions to build resilience.

The Role of Stakeholders in Driving Change

In combination, improved forecasting and financial strategies can safeguard lives, bolster livelihoods, and contribute to a more resilient future for all.

However, the ultimate impact will depend on the contributions of those gathered here today. Whether it is governments providing direction, businesses driving change in the economy, or investors mobilising the necessary finance, it is your efforts that will make the most significant difference.

Therefore, I invite you to reflect on three critical questions: What barriers are preventing finance from flowing at scale? What do you require from us as governments—both here and in the countries where you invest? And what support do you need from the international community to position resilience as the smart investment choice?

Today—and indeed this entire week—presents an invaluable opportunity to address these questions and to transition from ambition to tangible action.