Infrastructure recovery initiative launched

The Rockefeller Foundation, Veolia, and Swiss Re Corporate Solutions Ltd, have joined forces to launch an innovative infrastructure recovery initiative to speed up economic recovery in the aftermath of catastrophic events for cities across the globe.

The partnership, designed to support cities worldwide in the areas of climate change adaptation, disaster risk reduction, infrastructure enhancement and recovery, was announced by Rockefeller Foundation president, Dr. Judith Rodin; Swiss Re Corporate Solutions CEO Agostino Galvagni; and Antoine Frérot, chairman and CEO of Veolia.

Under the partnership agreement, Swiss Re and Veolia will work with cities to understand the risk exposure of critical assets under current and future climate scenarios. Based on these assessments, cities can develop resilience plans to lessen the risk of these assets being affected, and simultaneously reduce their risk exposure over time. By planning ahead for major shocks and stresses, cities not only strengthen the resistance of their vital infrastructure; they can also limit economic interruption; and begin to quickly repair damage without waiting for insurance assessments, payouts, and solicitations for repair proposals. The result of this partnership will not only arm cities with new tools to deal with the constantly evolving risks they face, but will also ensure the livability and vibrancy of cities by building their economic and physical resilience.