Climate Adaptation 2014 Insuring Resilience: How the Primary Colours of Capital, Science and Policy can Enable Risk Management & Adaptation at National & Local Scales. (887)
There is a growing recognition of the need for a systemic response to the challenge of climate adaptation and resilience. At its heart is a realization that climate and natural disaster risk needs to be encoded into the rules of mainstream financial regulation, investment and accounting. With this change the interests of capital will become aligned with proportionate levels of resilience to reduce risk and optimise returns. This will change, for example, how our cities are built. Fortunately a template for these developments has emerged across re/insurance capital regulation in Australia and across the world over the last 25 years and a major global initiative is under way to plan for wider application. These themes and opportunities in Australia will be addressed in this talk.