SOFF advances the Systematic Observation Impact Bond at London Climate Action Week
At London Climate Action Week, the Systematic Observations Financing Facility (SOFF) brought weather and climate observations into conversations on the future of climate finance.
Joining more than 100,000 participants, SOFF engaged in a series of discussions and convenings with leaders from the climate finance and impact investment communities, highlighting why weather and climate observations are fundamental to strengthening resilience, advancing adaptation and enabling informed investment decision-making.
At the World Climate Investment Summit, SOFF Secretariat Director Markus Repnik joined the panel “Scaling Nature Markets: Mobilising Institutional Capital for Natural Capital” alongside representatives from the Climate Policy Initiative, Gresham House, the Centre for Global Commons at the University of Tokyo, and the Climate Bonds Initiative. During the discussion, he highlighted the critical role of weather and climate observations in valuing natural capital and managing investment risks.
“To put it simply, without weather and climate data we are flying blind – and you would want to scale nature markets with eyes wide open,” said Repnik.
Building on engagements in London, SOFF initiated discussions with prospective strategic partners, laying the foundations for the first Systematic Observation Impact Bond issuance planned for COP31. The Systematic Observation Impact Bond is being developed under the COP30-COP31 Action Agenda as an innovative climate finance solution for adaptation and resilience. It brings together governments, philanthropies, private sector and mission-aligned investors in a shared effort to strengthen the foundation of climate resilience.
Following decisions adopted during the 14th Steering Committee meeting in Brussels in May, SOFF has begun the operational steps required to establish the Special Purpose Vehicle (SPV). These steps include engagement with the Irish authorities on a Host Country Agreement, the selection of legal and corporate service providers, and the development of the governance arrangements that will support future bond issuances.
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