Paola Albrito, Chief of the Regional Office for Europe, added: “This initiative shows that a real shift is taking place in Europe as businesses and governments actively work together to curb risk. These developments are particularly important in the context of discussions on sustainable finance reforms happening in the region and integrating measures to ensure risk sensitive investments.”

The public private partnership will support action grounded on solid facts and evidence of risk. As Mr Kreutzer, explained: “The insurance industry has the most reliable local damage data. For example, damage figures from insurance companies show there are challenges with water drainage where damages are increasing, especially in cities where there is a high density of people living. More precipitation in the future, driven by climate change, is expected to reinforce these challenges. This is therefore a good instrument for public-private collaboration to avoid substantial losses that impact society and individuals.”

Date:

26 Feb 2018

Sources:

United Nations Office for Disaster Risk Reduction - Regional Office for Europe (UNISDR EUR)

Themes:

Civil Society/NGOs, Climate Change, Private Sector, Insurance & Risk Transfer

Hazards:

Flood

Countries:

Norway

Regions:

Europe