• Nature Restoration & Conservation Insurance Initiative

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    About NatReco

    Our Story

    It all started in November 2022, when Henri Douche, Head of P&C Product & Innovation at SCOR, said: “We should do something around biodiversity” and a project team was formed.

    A few months later, at the United Nations Biodiversity Conference (COP15), nearly 200 governments committed to protecting at least 30% of the world's land and water by 2030. We decided to focus our first product on ecological restoration and the de-risking of financing opportunities.

    That vision quickly grew beyond a single solution. It became a platform for innovation. SCOR’s NatReCo initiative aims to offer clients innovative (re)insurance solutions that support nature-resilient projects around the world. This, in turn, supports the transition toward a more resilient and sustainable future.

    Our Mission

    The NatReCo Initiative offers proactive, innovative (re)insurance solutions which support nature-resilient projects that address societal challenges like climate change, food and water security, and sustainable agriculture, in order to endeavor to mitigate the causes of these challenges.

    Our Vision

    The NatReCo Initiative helps SCOR optimize its positive impact on nature and people by contributing to the welfare, resilience, and sustainable development of society. NatReCo supports the transition to a better tomorrow through the development of (re)insurance solutions and products which contribute to preserving nature and biodiversity.

  • Headshot of Jean-Paul Conoscente, Chief Executive Officer of SCOR P&C

    “We are delighted to present this initiative, which demonstrates SCOR’s innovative development capabilities and endeavors to address global issues which affect societies by de-risking financing opportunities. We believe insurance has an opportunity to play an important role in contributing to the actions required to mitigate and pre-empt the ongoing environmental challenges we are facing.”

    Jean-Paul Conoscente, Chief Executive Officer of SCOR P&C

    NatReCo Solutions

    Ecological Restoration Insurance Solution

    The Background

    Healthy ecosystems are the foundation of biodiversity and the natural capital that sustains human life because of the ecosystem services they provide to societies. But they’re rapidly declining and some are even at risk of collapse due to drivers such as climate change, pollution, and the unstainable exploitation of natural resources.

    This has far-reaching consequences for:

    • Public Health & Society: Loss of ecosystem services leads to significant health and societal consequences because societies cannot fully benefit from those services.
    • Economies: Ecosystem decline threatens industries such as agriculture, fisheries, food, construction, forestry, water, and energy, impacting economic stability and growth.
    • Financial and Cultural Assets: Investors face risks as ecosystem deterioration reduces asset values.
       

    Although there is growing awareness and regulation, more nature-related financing is required. However, there can still be some reluctance when it comes to financing due to:

    • The inherently unpredictable and dynamic nature of ecosystems and the drivers that impact them, which can affect investments.
    • A lack of available data relating to projects and investment returns.
    • Uncertainty about returns on investments, including the timing of returns.
    • The lack of governance and standards around ecological restoration projects.

    The Solution

    The Ecological Restoration Insurance Solution offers a way to bridge the ‘gap’ between the need and desire to finance ecological restoration projects by de-risking the financing opportunities, making them more attractive and viable for public and private stakeholders.

  • The Products

    Ecological restoration is a long-term process, often spanning decades. As ecosystems recover, their integrity increases and vulnerability decreases — shifting the risk profile over time. To address this evolving risk, the Ecological Restoration Insurance Solution is structured into three tailored products, each aligned with a different stage of recovery and with the project plan:

    • The Restore product covers the implementation of the conditions for the recovery phase of the project.
    • The Manage product covers the ongoing management phase of the project, focusing on maintaining and improving the recovery conditions already in place.
    • The Conserve product will cover the phase of the project which focuses on maintaining the integrity level that has been achieved. (Coming soon).

    Together, these three products are designed to provide a continuum of coverage that adapts to the changing risks of ecological restoration projects. We provide coverage across diverse terrestrial biomes, complemented by a customizable mix of perils that can be selected individually to match each unique ecosystem and the specific risk appetite.

  • Key Features

    SCOR endeavors to support only those projects which advance ecological restoration, promote equity and equality, respect cultural diversity, and commit to integrity and transparency in all actions related to ecological restoration.

    In collaboration with the Society for Ecological Restoration, SCOR has developed a standards-based approach to ensure any restoration projects insured by the Restore and Manage products meet the above objectives.

    This standards-based approach is used as part of the Ecological Restoration Due Diligence Process, which assesses the “quality” of each project. A project must achieve a Final Grade of at least “A” to be insured by SCOR.

    By assessing and grading the “quality” of a project, the Ecological Restoration Insurance Solution endeavors to provide greater confidence in the project itself.

    Ecological restoration projects can be undertaken for a variety of reasons or outcomes — from biodiversity recovery to climate resilience and other benefits. By insuring the project itself, SCOR enables scalable coverage across diverse geographies and restoration goals.

    Ecosystems have a biological elasticity to their integrity levels. Therefore, it is necessary to assess the severity of an event to establish whether it has had a negative, neutral, or positive impact on the ecosystem. This allows the product to be priced accordingly.

    Given the technical nature of the Ecological Restoration Insurance Solution, loss adjustors appointed by SCOR to assess claims will be assisted by Certified Ecological Restoration Practitioners who will provide technical expertise on the impact of an insured event and the quantum of any valid claim.

    To ensure the Ecological Restoration Insurance Solution supports ecological restoration and the wider environmental community, it is a condition of any claim payment that some or all of the claim monies be utilized for a restoration project (namely the project insured by SCOR or, if this is not possible, a project approved by the Ecological Restoration Due Diligence).

  • Stakeholders and Benefits

    SCOR’s Ecological Restoration Insurance Solution supports a range of stakeholders:

    Corporates, governments/states/authorities, landowners, individuals.
    The Solution creates the possibility of greater capital efficiency due to the increased prospect of an ecological restoration project being completed. This leads to an increased prospect of a return on the capital invested, whether that be an increased prospect of benefiting from ecosystem services, of meeting regulations or other obligations, or of investment returns.

    Banks, corporates, governments/states/authorities, investors, asset managers.
    The Solution generates greater security for the initial investment, firstly because of the increased prospect of project completion, and secondly because SCOR’s standards-based approach provides greater confidence in the “quality" of the project. The Solution also creates the possibility of greater capital efficiency, because an increased prospect of project completion means an increased prospect of investment returns.

    Project developers, project managers, asset managers.
    The benefits to financiers also generate benefits for project implementers, by increasing their ability to attract investment for projects. The Solution also helps Implementors to meet any contractual obligations linked to the completion of a project, by increasing the prospect of a project being completed.

    Restoration companies, contractors.
    The Solution also helps those executing a project to meet any contractual obligations linked to its completion, by increasing the prospect of a project being completed.

  • Our Partners

    Society for Ecological Restoration logo

    Society for Ecological Restoration (SER)

    Given the technical nature of the Ecological Restoration Insurance Solution, SCOR has engaged the SER to provide its expertise in developing and implementing this Solution.

    SER is an international non-profit organization with a dynamic global network of over 5,000 members in more than 130 countries who foster the exchange of knowledge and expertise among ecological restoration practitioners and scientists from diverse disciplines and backgrounds. SER has 16 chapter affiliates around the world, more than 30 student associations, and four thematic sections and networking groups.

    SCOR considered SER ideal to collaborate with given it gives a voice to the field of ecological restoration and has provided leadership in all aspects of its development for more than three decades; working to ensure that ecological restoration is recognized and utilized as a fundamental component of global conservation, biodiversity, and sustainable development programs.

    SER also runs the world’s only professional certification program for restoration practitioners: Certified Ecological Restoration Practitioners (CERP), certifying more than 600 CERPs around the world in the seven years since its inception.

    SCOR is proud to be collaborating with SER, which is also an initial global partner to the UN Decade on Ecosystem Restoration and a trusted partner to multi-lateral conventions and entities, including the UN Convention on Biological Diversity, the UN Convention to Combat Desertification, and IUCN.

    George Gann serves as the expert point of contact for SCOR at SER. For more information: Society for Ecological Restoration.

    Learn more

    • Ecological Restoration Insurance Solution Brochure - English | French
    • Ecological Restoration Insurance Solution Scenarios - English | French

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