One way for cash-strapped local governments to increase both protection and insurance against disasters is through a new financial tool called resilience bonds. In a new report, my co-author James Rhodes and I lay out how these would work.
The bonds were developed in partnership with Swiss Re and The Rockefeller Foundation. According to an RMS statement, the resilience bond could provide financial protection through catastrophe insurance...
A new framework for "resilience bonds" that could offer credit for infrastructure works alongside catastrophe bond reinsurance cover has been launched today (9 December). The partners behind the initiative include RMS, Swiss Re and the Rockefeller Foundation, as well as design firm re:focus partners.
Dec 9 A "resilience bond", a variation on a catastrophe bond, could help cities deal more effectively with climate change-related disasters, according to a report funded by the Rockefeller Foundation.
A team of private sector leaders has collaborated to design and structure a framework for a new insurance-based product intended to generate capital for risk-reduction projects
As part of a new environmental policy at the investment bank, Goldman Sachs will focus on developing new models and use-cases for catastrophe bonds, aiming to help clients mitigate climate risk impacts as well as for financing resilience. Goldman Sachs has been a leading structuring and investment banking firm in the catastrophe bond space since [...]
U.S. cities from Hoboken, New Jersey, to Los Angeles are taking steps to ensure that their infrastructure can sustain direct hits from major hurricanes and floods. “It's interesting to me how the awareness of these issues is changing so quickly,” said Shelley Poticha, director of urban solutions at the Washington-based Natural Resources Defense Council.
What if catastrophe bonds could be used to prevent losses, instead of paying for them? That’s the impulse behind RE.bound, a collaboration among Goldman Sachs, The Rockefeller Foundation, Swiss Re, risk modeler RMS and consultancy re:focus partners.
Recent science argues that humans have already pushed Earth past the safe level for carbon dioxide concentrations — and that we’re heading toward, if not certain destruction, then at least a planet “much less hospitable to the development of human societies.”
A new initiative called RE.bound has been launched which will leverage catastrophe bond technology to design and structure new risk transfer solutions that provide a mechanism for resilient infrastructure project financing.