Insuring a Sustainable Ocean Economy: A Deep Dive for the Insurance Industry

Presented by

UNEP FI Butch Bacani, Dennis Fritsch, Cara Wilson | AXA XL Chip Cunliffe | Gallagher Daniel Fairweather | IUMI Richard Turner

About this talk

The ocean’s health and integrity is critical to providing oxygen, food and other resources; absorbing carbon emissions and heat; and building coastal resilience. However, it is under immense pressure from unsustainable development, including destructive fishing practices, carbon-intensive shipping, acidification and pollution. Modern-day insurance’s roots can be traced to the maritime industry, and the insurance industry’s relationship with the ocean economy continues to evolve. From shipping, fisheries and tourism; to aquaculture, energy, biotechnology and nature-based solutions for coastal protection and blue carbon, the insurance industry’s risk management, insurance and investment activities can play a key role in ensuring a sustainable ocean economy. Join leading insurers and the United Nations Environment Programme Finance Initiative (UNEP FI) to discuss sustainability challenges and opportunities in the context of the 21st century ocean economy, and find out how to get involved in UNEP FI’s new Sustainable Blue Economy Finance Initiative to develop sustainable finance strategies and approaches to ocean-based industries. Moderator: Butch Bacani, Programme Leader, UNEP Principles for Sustainable Insurance Initiative (PSI) Panellists: Chip Cunliffe, Director of Sustainable Development, AXA XL Daniel Fairweather of Gallagher, Director of livestock, aquaculture and fisheries, Gallagher Insurance Richard Turner, President IUMI, International Union of Marine Insurance Cara Wilson, Secretariat, UNEP FI Sustainable Blue Economy Finance Initiative Dennis Fritsch, Secretariat, UNEP FI Sustainable Blue Economy Finance Initiative

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United Nations Environment Programme Finance Initiative (UNEP FI) is a partnership between United Nations Environment and the global financial sector created in the wake of the 1992 Earth Summit with a mission to promote sustainable finance. More than 240 financial institutions, including banks, insurers, and investors, work with UN Environment to understand today’s environmental, social and governance challenges, why they matter to finance, and how to actively participate in addressing them. UNEP FI’s work also includes a strong focus on policy – by facilitating country-level dialogues between finance practitioners, supervisors, regulators and policy-makers, and, at the international level, by promoting financial sector involvement in processes such as the global climate negotiations.