Marsh McLennan joins forces with United Nations High Level Climate Change Champions and Arsht-Rock to support the race for resilience and advance insurance industry action on climate adaptation

NEW YORK, November 09, 2022–(BUSINESS WIRE)–Marsh McLennan (NYSE: MMC), the global leader in risk, strategy and human resources professional services, in partnership with the Atlantic Council’s Arsht-Rockefeller Foundation Resilience Center ( Arsht-Rock), will help mobilize the insurance industry in support of the United Nations Race for Resilience by championing innovative disaster risk reduction initiatives that move communities away from reliance on from recovery to a focus on resilience. Race to Resilience is a global campaign catalyzing a step change in global ambition for climate resilience.

“Through this initiative, we are showcasing the most innovative and impactful insurance-based climate adaptation projects in the world and applying a simple and clear framework for industry engagement,” said Dr Mahmoud. Mohieldin, United Nations High Level Champion on Climate Change for Egypt, COP27. “Our aim is, among other things, to measure the impact of the (re)insurance sector on climate adaptation and to facilitate engagement with projects requiring support.”

Julian Enoizi, Global Head of Public Sector Risk Solutions, Guy Carpenter, a Marsh McLennan firm: “We are proud to be engaged in this work today, partnering with government and insurers to build public-private partnerships that help communities build climate resilience. Through effective financial investments and targeted interventions on the ground, the global insurance industry can help increase our resilience in the face of a warmer and more unstable planet.

The campaign features 17 projects that redefine the role of insurance in global disaster planning. The companies of Marsh McLennan and Arsht-Rock are directly involved in several of these projects, including a pilot for a community catastrophe insurance model for vulnerable populations in New York, a blended finance structure in Santiago, Chile, and a integrated disaster risk reduction. and microinsurance programs in Mexico and India.

“We know that one dollar invested in disaster preparedness and prevention saves up to eleven dollars in response funding. Ironically, 88% of all disaster relief happens after the disaster,” said Kathy Baughman McLeod, Senior Vice President and Director, Adrienne Arsht-Rockefeller Resilience. Center. “Imagine the human pain and economic loss we could avoid if we could reverse this pattern.”

This initiative will be launched at COP 27 on November 10 at 10:00 a.m. EET as part of the High-Level Champions Program and Marrakech Partnership on Resilience.

An accompanying report Fulfilling a legacy of societal risk management contains more information about the initiative, capacity framework and pioneering projects.

After the conference, the United Nations High Level Champions on Climate Change, the Adrienne Arsht-Rockefeller Foundation Resilience Center, Marsh McLennan and other supporters will engage with (re)insurers around the world to solicit their participation to scale these projects and engage on potential approaches to accelerate the sector’s impact on these issues.

For more information on how Marsh McLennan and his four global businesses – Marsh, Guy Carpenter, Mercer and Oliver Wyman – are working with their clients to integrate climate change strategies into their priorities as well as COP27 initiatives company, click here.

About Marsh McLennan
Marsh McLennan (NYSE: MMC) is the global leader in professional services in the areas of risk, strategy and human resources. The Company’s 86,000 employees advise clients in 130 countries. With annual revenue of more than $20 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment across four market-leading companies. Marsh provides data-driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and seize emerging opportunities. Mercer provides consulting and technology solutions that help organizations redefine the world of work, reshape retirement and investment outcomes, and unleash the health and well-being of a changing workforce. . Oliver Wyman is a key strategic, economic and brand advisor to private sector and government clients. For more information, visit marshmclennan.com, follow us on LinkedIn and Twitter or subscribe to EDGE.

About the Adrienne Arsht-Rockefeller Resilience Center
The Atlantic Council’s Adrienne Arsht-Rockefeller Foundation (Arsht-Rock) Resilience Center builds individual and community resilience to climate impacts. We are driven to action by the critical need to address the widespread and growing consequences of climate change and related risks – threatening our communities, natural ecosystems, economic development and political stability. We are committed to providing one billion people around the world with climate resilience solutions by 2030. For more information, visit onebillionresilient.org.

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contacts

Media:
Amelie Wolter
McLennan Marsh
+1 347 703 5358
[email protected]

Teresa H. Sadler