Building resilience to ocean risk
Through innovative finance solutions
Purpose
The Ocean Risk and Resilience Action Alliance is a multi-sector collaboration between governments, financial institutions, the insurance industry, environmental organisations and stakeholders from the Global South.
Our purpose is to unlock and incentivise greater private investments and blended finance into coastal natural capital by pioneering ground-breaking products that both address ocean risk and build resilience in the regions that need it most.
Mission
The United Nations has called for a transformative response by the finance and insurance industries to reduce the exposure and vulnerability of those most at threat: the coastal ecosystems and communities in developing countries and Small Island Developing States (SIDS).
The Ocean Risk and Resilience Action Alliance has been created to respond to this call for action and to drive investment into protecting and regenerating the natural capital of these countries, who often lack the financial resources to fund relief, recovery and post-disaster reconstruction efforts.
40% of the world's population live in coastal areas.
scientists estimate that just 100m of mangroves can reduce wave height by 66%.
paid by insurers over the last 10 years for coastal storm damage, with significantly larger costs being borne by governments and taxpayers.
up to 800 million people will be at risk of coastal flooding and storm surges by 2050.
coastland wetlands sequester five times more carbon from the atmosphere than terrestrial forests.
of assets are estimated to be underinsured in the world today, with emerging economies accounting for 96% of the total global insurance protection gap.