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Nature for insurance, and insurance for nature

Project description

DEENESFRITPL

Assessing the performance of nature-based solutions

Nature-based solutions (NbS) can help to sustainably manage natural features and processes to address socio-environmental challenges such as climate hazard risks, pollution and biodiversity. The EU-funded NATURANCE project will examine the technical, financial and operational feasibility and performance of solutions built on a combination of disaster risk financing and NbS investments. The project will connect major knowledge networks, and initiate and organise innovation finance and policy labs. Moreover, it will analyse policy and governance conditions, models, methods, scenarios and metrics used for assessing the risk-reduction performance of NbS. Finally, it will promote the adoption of jointly laid out principles, performance metrics and recommended approaches to analysis and design aligned with the EU sustainable finance framework.

Objective

Nature-Based Solutions (NbS) can provide means to regulate GHG in the atmosphere, mitigate climate hazard risks - through mass stabilisation, water flow regulation, wind dissipation, and temperature regulation - remove particle pollution and im-prove air quality, protect soil and biodiversity, and enhance climate resilience. The Naturance project will examine technical, financial and operational feasibility and performance of solutions that are built upon and combine disaster risk financing & investments with nature-based solutions. To this end we will stimulate dialogues, knowledge sharing and mutual learning across different areas of policy and practice. Our ambition is not only to produce a comprehensive and collaborative assessment of nature-based insurance and investment solutions from societal and business perspective: our ultimate goal is to encourage adoption of jointly elaborated principles, performance metrics and recommended approaches to analysis and design, in accordance with EU framework for sustainable finance.
The project will
Establish a ‘Network of existing networks’ by connecting existing major knowledge networks and fostering cross-domain knowledge sharing and collaborative marketplace for innovative nature-based insurance & in-vestment solutions.
Initiate and organise innovation finance and policy labs seeking to assess existing and explore new areas for insurance & investment solutions and revenue models supporting NbS.
Analyse policy and governance conditions that are conducive to or hamper adoption of sustainable and equitable innovative green insurance and investment solutions for NbS and identify examples of inspirational practice and policy reforms unlocking their business potential and scaling up their deployment.
Analyse models, methods, scenarios and metrics used for assessing risk-reduction performance of NbS, as well as their wider societal benefits, and contribute to a better integration of ecosystem and economic risk modelling.
Build awareness and capabilities for green financial innovations, so to creating conditions for inclusive and transformative change in regions embarked in the Mission on climate adaptation & societal transformation.

Fields of science

Programme(s)

Topic(s)

Call for proposal

HORIZON-CL6-2021-BIODIV-01

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Funding Scheme

CSA - Coordination and support action

Coordinator

FONDAZIONE CENTRO EURO-MEDITERRANEOSUI CAMBIAMENTI CLIMATICI
Net EU contribution
€ 735 000,00
Address
Via marco biagi 5
73100 Lecce
Italy

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Region
Sud Puglia Lecce
Activity type
Research Organisations
Links
Other funding
€ 0,00

Participants (6)

Partners (2)

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EC signature date 10 June 2022
Last update: 5 April 2023

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Permalink: https://cordis.europa.eu/project/id/101060464

European Union, 2023