About the Event
November 10th at 3:00 AM ET/10:00 AM EET
The current global approach to resolving climate disasters involves funneling resources towards disaster response as opposed to targeted prevention, which would save money and lives. Every dollar invested in pre-event risk reduction saves between $6 and $11, and yet 88 percent of today’s disaster management funds from humanitarian, development and government sources are allocated to post-event response. In the spirit of this step-change in global ambition for climate resilience, Arsht Rock has identified the importance of the global insurance industry in preparing our cities for a hotter, more volatile planet.
Arsht-Rock, Marsh McLennan, and the UN Climate Change High Level Champions will launch the Insurance Sector Mobilization at the Marrakech Partnership for Global Climate Action Zone.
As part of this campaign, one of the 2030 Adaptation Outcome targets of the COP27 Presidency’s Sharm El-Sheikh Adaptation Agenda, we will showcase 17 pioneer projects and the value of investments that are currently projected for them, including Arsht-Rock’s Parametric Based Capital Stack pilots under consideration for Santiago, Miami and Athens. Together, we will work to mobilize the insurance sector to multiply their investments on adaptation while championing innovative disaster risk reduction initiatives that move communities from a reliance on recovery to a focus on resilience by 2030.
“Imagine the humanitarian and economic hardships that could be avoided if this funding model was reversed.”