Given that natural hazards are on the rise both in terms of frequency and severity, climate adaptation considerations should lie at the very heart of building norms and processes.
Ahead of the upcoming COP26 Summit, the Global Federation of Insurance Associations (GFIA) has today published its key principles for more resilient and sustainable construction.
The
concept of “build and rebuild better” has been in use for several years
in the context of reconstruction after physical disasters and is a key
component in improving infrastructure and construction resilience, and
successfully implementing adaption strategies to address climate risks.
Given
that natural hazards are on the rise both in terms of frequency and
severity, climate adaptation considerations should lie at the very heart
of building norms and processes. GFIA has therefore identified three
key principles for more resilient and sustainable construction:
- Build in a more resilient way
— To avoid recurring disasters, for example, identical reconstruction
after a natural disaster should not be the default. Building back better
in a more resilient way is a significant building block of integrated
disaster risk management.
- Build with green materials and circularity
— Sustainable/recycled products should be used in construction to
increase resource efficiency and to develop green infrastructure.
- Co-finance better resilience
— If reconstruction requires resilience improvements that contain new
elements and exceed the insurer’s indemnity, for example, complementary
funding should be provided by public authorities, for instance in the
form of an interest-free bank loan. Furthermore, by making long-term
sustainable investments in infrastructure while meeting contractual
obligations to policyholders, insurers support both the transition to a
low-carbon economy and the availability of insurance protection.
GFIA
© GFIA - Global Federation of Insurance Associations
Key
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