Diana Chepng’eno, the Africa and Middle East Coordinator for the V20 Sustainable Insurance Facility, was invited to speak at the Institute of Loss Adjusters and Risk Surveyors conference on Insurance Solutions for Sustainable Blue Economy.
The conference, held in Mombasa on the 13th of March 2024, was attended by industry representatives, regulators, and policy makers, including Godfrey Kiptum, Commissioner for Kenya’s Insurance Regulatory Authority.
Mr Kiptum spoke about the need for Loss Adjustors and Risks Surveyors in the region to commence action on Environmental and Social Governance with a focus on implementing the UN’s Principles for Sustainable Insurance.
At the event, Diana spoke about the impact of climate change on coastal infrastructure and business operations, covering important issues such as natural disasters, climate impacts on waterways and oceans, risks to ecosystems, and incorporating ESG for meaningful impact.
On the subject, Diana Chepng’eno said: “For communities and businesses which live and operate in coastal regions, climate change poses an immediate threat to their welfare, their security, and even their lives.”
“Rising sea levels can displace entire communities, destabilising local infrastructure, and compounding pressure neighbouring local authorities. This can affect everything from business operations, access to education, access to healthcare, and working opportunities, which, if not managed effectively, can cause harmful long-term consequences which can be felt throughout generations.”
“Coastal communities are particularly vulnerable to the most direct effects of climate change, but the ripple effect of inactivity is wide and, potentially, all-encompassing. We must consider serious and pragmatic adaptation and mitigation solutions to protect these communities first and to protect our entire ecosystem.”
