Section 5
Each gate pairs the Board question with the evidence or metrics it requires and the red flag that should stop or reshape the commitment.
Is the commitment system-critical, hard to recreate, long-duration or irreversible? What specified failure mode is being mitigated?
Evidence / metrics
Expected loss avoided; recovery time; substitutability; correlated dependency; option value; lifecycle cost.
Red flag
Reject generic resilience premiums without an activation pathway or sunset rule.
What is the single binding constraint preventing the asset/right from becoming productive capacity?
Evidence / metrics
Grid/power; water/cooling; ports/logistics; materials; skills; planning; insurance; data; consent.
Red flag
Do not acquire/lease on the assumption that scarcity alone guarantees value.
Can the asset system remain usable, financeable/insurable and legitimate under multiple physical-risk pathways?
Evidence / metrics
Protect/adapt/repurpose/transform/managed-exit; service standards; adaptation capex; trigger metrics.
Red flag
Do not assume indefinite protection is the default.
Does the programme depend on scarce skills, participation, accessibility or local social capacity?
Evidence / metrics
Training-to-job conversion; hard-to-fill roles; accessibility; repeat use; workforce/partner commitments. Healthy-life participation; learning access by target group; non-financial outcome causality.
Red flag
Do not count training or engagement inputs as outcomes.
Which functions are created, protected or displaced?
Evidence / metrics
Food; biodiversity; water; carbon; energy; adaptation; livelihoods; access/community; reversibility.
Red flag
No “stacked value” claim without separate baselines and displaced-use disclosure.
Why is TCE the institution that should act, and what changes because it acts?
Evidence / metrics
Distinctive rights/assets; capacity created; partner crowd-in; decision speed; recovery/coordination gain.
Red flag
Do not confuse bottleneck control or convening activity with public value.
Should TCE lead, invest, convene or decline? Who owns authority and what is the transfer/exit condition?
Evidence / metrics
Mandate basis; decision rights; public partner; challenge route; transfer milestone; stop/scale trigger. Three-ledger view: commercial performance; system additionality; public/legitimacy value.
Red flag
Decline functions requiring taxation, regulation, compulsory allocation, redistribution or permanent subsidy without explicit public authority. Do not collapse the three ledgers into one composite score.