Resilience insurance: a new way to finance coastal resilience through nature-based solutions

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12:00 pm - 1:00 pm ET

Dr. B.G. Reguero, Associate Researcher and Adjunct Professor on Coastal Adaptation and Policy, University of California, Santa Cruz. Presenting from California.
Co-Authors:M.W. Beck, K.Pfliegner, D. Schmid, D, Stadtmuller, J. Raepple, and S. Schussele

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Storm losses continue to grow and represent a significant and growing economic challenge, particularly for developing and emerging economies. The increasing impacts of climate hazards in the coastal zones require urgent action to manage coastal risk. However, both the public and private sector struggle to finance up-front investments in coastal adaptation and hazard mitigation strategies, especially nature-based solutions. The webinar will describe new prospects to advance nature-based solutions and insurance through a new resilience insurance concept that helps bridge between traditional tradeoffs of risk transfer (e.g., insurance) and risk reduction (e.g., hazard mitigation). The mechanism is applicable to many coastlines and can help finance nature-based solutions that can help align environmental and risk management goals, while creating opportunities for public and private investment in coastal adaptation. The presentation will discuss a hypothetical application for a coral reef restoration project, as an example of its potential for nature-based projects. This work is result of a collaboration between a global conservationist organization, the global lead reinsurer, and researchers.

B.G. Reguero is an interdisciplinary scientist who studies climate risk and adaptation solutions for coastal communities and economies. B.G. Reguero has a PhD. in Coastal Engineering and Master's degrees in Coastal & Port Engineering and also Applied Economics. He is an associate researcher and adjunct professor on coastal adaptation and policy at the University of California, Santa Cruz; and a Research Fellow with The Natural Capital Project at Stanford. He has spent over a decade working in climate change and climate hazards, climate resilient engineering, coastal management and adaptation,disaster risk reduction, and nature-based solutions. His work has informed policy and involved projects in Latin American and the Caribbean, West and North Africa, Europe, USA and Small Island States. He has consulted for NGOs and multilateral agencies like the World Bank, the Inter-American Development Bank, and the UN Economic Commission for Latin American and the Caribbean. His work is developed in close partnership with the US Geological Survey and The Nature Conservancy.

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