FERMA welcomes the European Commission’s Blueprint for a new, more ambitious EU strategy on adaptation to climate change

In its Blueprint document, the Commission rightly highlights that adaptation “is about understanding, planning and acting to prevent the impacts in the first place, minimise their effects, and address their consequences.”

In this respect, FERMA is of the view that an enterprise risk management (ERM) approach can help inform better management of climate risks.

Furthermore, FERMA believes that the Blueprint document highlights some of the key areas where EU action is needed, such as:

• closing the climate protection gap
• improving access to climate-related risk data
• encouraging resilience building in cities

In addition, since the start of the COVID-19 crisis, FERMA has been working with other stakeholders to develop a new Resilience Framework for Catastrophic Risks. This framework aims to better manage the share of uninsured losses from catastrophic events.

FERMA believes such a framework may be used to help close the climate protection gap, too.

Read our position paper here.

What will the EU do next?

It is anticipated that the EU will launch its new, more ambitious strategy on adaptation to climate change in Q1 2021.