Deeply Talks: Hedging Climate Change By Insuring Coral Reefs
March 09, 2018 | 11:00AM EST
Coral reefs provide habitat for a quarter of marine life and serve as a source of food and livelihoods for hundreds of million of people. They also generate billions of dollars in tourism revenue and protect beaches and other coastal destinations by acting as buffers against destructive storms. Now in a world first, a public-private consortium is taking out an insurance policy on a 37-mile (60km) section of the Mesoamerican Reef off Mexico’s Yucatán peninsula.
In a 30-minute discussion from The Economist World Ocean Summit in Mexico on March 9, we’ll talk about why the government, the tourism industry, insurer Swiss Re and the Nature Conservancy have joined forces to insure the reef, how the insurance policy will help preserve the corals and whether such financial innovations could help protect imperiled coral reefs elsewhere. The conversation will take place at 8 a.m. PT/11 a.m. ET and will include Fernando Secaira, director of climate & risk resilience Mexico for the Nature Conservancy, Mark Way, corporate climate lead at The Nature Conservancy, and Todd Woody, News Deeply’s executive editor for environment.
We’d love to hear your questions about insurance policies for coral reefs. If you'd like to give us your feedback or ask our editor or guests a question, email it to our community editor Ian Evans (firstname.lastname@example.org) or tweet us @oceansdeeplyusing #DEEPLYTALKS.