ABOUT ORRAA

Sea level and population density projections indicate that 800 million people will be at risk of coastal flooding and storm surges by 2050 – the majority in Least Developed Countries (LDCs) and Small Islands Developing States (SIDS).

Climate risk and ocean risk together equal financial risk. They threaten sustainable economic growth, entrench communities in poverty, and present the global community with ever-mounting costs. Research led by ORRAA member WWF shows that a business-as-usual trajectory entails great risk to our economies, with a cost potentially reaching up to US$8.4 trillion over the next 15 years.

But nature itself can provide solutions, if we choose to protect it. Marine and coastal ecosystems like coral reefs, mangroves or salt marshes offer efficient and cost-effective ways to mitigate climate risk while bringing a host of social, economic and ecological benefits.

The Ocean Risk and Resilience Action Alliance (ORRAA) pioneers innovative finance products that drive investment in marine and coastal natural capital, reduce ocean and climate risks, and build resilience in coastal communities. ORRAA’s goals are to, by 2030:

• Secure $500m of investment into ocean-focused nature-based solutions
• Surface 50 new investable and scalable financial products that drive that investment
• Build the resilience of at least 250 million people in communities adapting to climate change

Connecting the finance and insurance sectors, governments, environmental organisations, academics and communities adapting to climate change, we believe it is time to #BackBlue and help secure a regenerating Ocean for a resilient future.