402. Reef Insurance: A scalable reality: 2:45pm – 4:15pm
Event time: 2:45pm – 4:15pm
Location: Park Hub, Convene, 101 Park Avenue
Event organizer: The Nature Conservancy
The world’s first coral reef insurance is currently being implemented in the Mexican state of Quintana Roo- an exciting model of innovative finance to help protect nature, and in return protect coasts and their assets. For coastal communities, natural systems like coral reefs provide the first line of defence against storms- a healthy coral reef can reduce up to 97 percent of a wave’s energy before it hits the shore.
With billions of dollars’ worth of built capital and millions of livelihoods protected from storm impact by coral reefs around the world, this is a market ripe for expansion.
Join this conversation between key stakeholders involved in the development of Quintana Roo’s reef insurance, and in the scaling of this model to other regions. Together we will discuss how reef insurance works, what are plans to scale, and what financing mechanisms will enable this expansion.
Partners/Sponsors: United Nations Development Programme (UNDP)