On May 6, the C40 Cities Climate Leadership Group (C40) and the Clinton Global Initiative (CGI) announced the two groups will work to create the C40 Risk Assessment Framework, a standard method for cities to use to prioritize climate change preparations. According to C40 Chairman Michael Bloomberg, the framework will allow cities to compare climate actions, banks to structure lending and financing options for climate change adaptation projects, and insurance companies to use a standard risk assessment. Representatives from C40 cities, banks, and insurance companies are set to begin discussions on the groundwork for the method on June 5-6 in the Netherlands.