London and Manila, 19 September 2019- A new report launched today by Earth Security Group (ESG) documents a series of pioneering platforms it has developed over the past two years in collaboration with local action partners, to enable the private sector to play a greater role in scaling ecosystem-based adaptation (EbA). The report is launched on eve of the Global Commission on Adaptation (GCA)’s call for urgent action to innovate on nature-based solutions to climate adaptation.
ESG’s new report ‘Private Sector Collaboration for Climate Resilience: Catalysing partnerships for Ecosystem-based Adaptation in the Philippines’ highlights three platforms developed as part of Earth Security Group’s Action Lab programme.
The report outlines the ongoing work of Earth Security Group and action partners in the Philippines to develop new interface collaboration platforms for the private sector and governments to scale EbA in a way that is aligned with a country’s climate adaptation strategy:
- Insurance Task Force for EbA: The Philippine Insurance and Reinsurance Association (PIRA) and Earth Security Group are working to embed EbA in the Philippines’ insurance sector. An Insurance Task Force for EbA’ bringing together leading insurance and reinsurance companies and government decision-makers in the Philippines will develop new pathways to integrate the protection value of natural ecosystems into the definition of risk models and new product portfolios based on EbA.
- Private-public investment platforms for EbA: A collaboration of Earth Security Group with the Philippines Business for Environment (PBE) is identifying the collaboration mechanisms that can enable companies, investment funds, civil society and government agencies to work together to align their resources on opportunities to scale results-based Payment for Ecosystem Services (PES) schemes in line with the government’s natural conservation management priorities.
- A Climate Resilience Lab with Local Governments: The Asian Institute of Management (AIM) and Earth Security Group have established a Climate Resilience Lab to incubate EbA projects generated by MBA students and implemented with local governments. In addition, the AIM-ESG partnership will actively work together with 10-15 Local Government Executives in municipalities that are most exposed to the risks of climate change, with a bespoke executive programme that forges private-public partnerships for EbA with participating companies to build the resilience of cities and local populations through infrastructure and value chain investments that support ecosystem regeneration.
Over the next two years, Earth Security Group and its action partners will continue developing these partnership programmes. The project is funded by the International Climate Initiative (IKI) of the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety.
- Michael F. Rellosa, Executive Director, Philippine Insurance and Reinsurance Association said: ‘Integrating ecosystem-based adaption in the insurance industry is a way to enhance the sector’s positive impact while expanding the portfolio of products in the market. Earth Security Group’s project has been instrumental in creating this awareness, which in our sector is very low, and bring together players that can contribute to innovative solutions.’
- Professor Manuel De Vera, Asian Institute of Management said: ‘As a result of this project we seek to work with Earth Security Group to build a Climate Resilience Lab and EbA incubator program based at the Asian Institute of Management. A new generation of leaders from regions of the country that are most vulnerable to climate change must be champions of EbA partnerships to strengthen the resilience of their regional socio-ecological systems.’
- Bonar Laureto, Executive Director, Philippine Business for Environment said: ‘Our partnership with Earth Security Group focuses on exploring business and government collaborations to develop policies that can enable the private sector to scale up its investments in maintaining or regenerating the ecosystem services on which it depends.’
- Alejandro Litovsky, CEO of Earth Security Group noted that ‘The success of this project demonstrates the need for new models of engagement between the private sector and government decision-makers that look beyond pilot projects and seek to create new conditions for growth. We look forward to continue to work with a great group of partners to pioneer these models and their impact.’
For more information, please contact:
Margot Clarvis, Director of Programmes at Earth Security Group.