Nature for Insurance, insurance for nature (NATURANCE)

Description:

NATURANCE is a 3.5-year Horizon Europe project which examines the technical, financial and operational feasibility and performance of solutions built on a combination of disaster risk financing and Nature-based solutions investments. The ultimate goal of NATURANCE project is to encourage adoption of jointly elaborated equity principles, performance metrics and recommended approaches to analysis and design in accordance with the EU framework for sustainable finance and the Just Transition Mechanism. The five objectives are:

• Objective 1: Connecting knowledges
  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 & investment solutions. The project mobilise and connect at least 20 knowledge networks (KNs) from across different thematic areas, including NbS, sustainable insurance & investments, cat modelling and risk assessment, and collaborative platforms of local & regional governments.
• Objective 2 Innovation finance labs
  Initiate and organise innovation finance and policy labs seeking to assess existing and explore new areas for equitable insurance & investment solutions and revenue models supporting NbS. The project initiate at least 9 innovation labs in the content of which is going to work with insurers & brokers, cat modellers, NbS practitioners & advocates, local & regional governments to explore the feasibility and potential of solutions in real world contexts, identify and test shared design principles, explore pathways to implementation.
• Objective 3 Analyse policy conditions
  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. 
• Objective 4 NbS performance assessments
  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. The project aims at producing a synthesis review of NbS performance assessments, technical specifications for integration of risk and ecosystem models and metrics for evaluation of equitable nature-based insurance & investment solutions.
• Objective 5 Build awareness
  Build awareness and capabilities for green financial innovations, in order to create conditions for inclusive and transformative change in regions embarked in the Mission on climate adaptation & societal transformation. The project is going to work with at least 15 regions enrolled in the HE Mission and/or Nature network, helping them to review the opportunities for a regional sustainable finance reform, and develop training courses targeting their needs.

Project information

Lead

Centro Euro-Mediterraneo sui Cambiamenti Climatici

Partners

Stichting VU (VU), NL

International Institute for Ap-plied Systems Analysis (IIASA), AT

London School of Economics and Political Science (LSE), UK

Karlsruhe Institute of Technology (KIT), DE

European Secretariat GMBH (ICLEI), DE

The Chancellor Masters and Scholars of the University Cambridge - Institute for Sustainability Leadership (CISL), UK

Stockholm University, Navarino Environmental Observatory (SU), SE

Willis Towers Watson, Climate and Resilience Hub (WTW), DE

Source of funding

This project has received funding from the European Union’s Horizon Europe – the Framework Programme for Research and Innovation (2021-2027)