NAIAD

Ecosystems protect but are also vulnerable to storms, wildfires, diseases, climate change, etc. Specific management operations might increase their resilience. NAIAD aims to bring evidence of the ecosystem protection roles, provide integrated hazard assessment methods, include social risk perception and preferences (to elucidate non-market benefits), and tailor innovative business models and financial options to build on the insurance value of ecosystems.

NAIAD aims to operationalise the insurance value of ecosystems to reduce the human and economic cost of risks associated with water (floods and drought) by developing and testing - with key insurers and municipalities - the concepts, tools, applications and instruments (business models) necessary for its mainstreaming.

1. Synthesis of knowledge; biophysical and socio-economic

1. Providing assessment framework for testing, evidence data collection and operationalization of NBS in support of mitigation or prevention of flood and drought risks,
2. Combining research, secondary data collection and analysis and stakeholder participation approach.

The goal is to deliver a robust informed decision support and planning tool for NBS implementation.

2. Operationalization of the framework

1. Testing of the framework on selected demo sites,
2. Fine tuning and upgrade of the decision support and planning tool, through stakeholder engagement and implementation experience,
3. Involving investment, business and insurance sector to participate in the identification of novel business and financial opportunities with NBS measures implementation.

The goal is to test the theoretical knowledge and upgrade it through testing in a real environment, while at the same time co-develop novel financial and business models in support of their implementation and replicability.

3. Policy uptake, communication, dissemination and capacity building

1. Build awareness at the government, business, insurance sector, civil society and academia on the benefits and risk provided through NBS implementation,
2. Provide targeted recommendations and guidance to utilize natural assurance schemes to improve economic, social and environmental conditions on the field at EU level.

The goal is to contribute, through financially viable and technically sound NBS informed decision support and planning tools, to socio-economic prosperity and sustainability of the natural environment.

SCIENTIFIC EVIDENCE AND METHODS providing a robust scientific underpinning for the quantification, qualification and valuation of the insurance value of ecosystems to enable its full operationalization.

ENHANCED NATURAL CAPITAL Increased deployment of multi-purpose and flexible nature-based solutions through the contribution to the development of policies that maintain and to enhance the insurance capacity of ecosystems and natural capital.

BUSINESS MODELS activating insurance value of ecosystems into conventional and new types of insurance policies and innovative business models

POLICY- supporting the objectives of the EU Adaptation Strategy – climate resilient investments and the priorities of other EU and international policies (e.g. EU Green Infrastructure Strategy and the Sendai Framework for Disaster Risk Reduction)