Financing Reef Resilience to Extreme Climate Events

MAR Fund, with partners across the Caribbean and support from WTW are scaling innovative risk financing to build the resilience of coral reefs to extreme climate events. Hurricanes are a leading driver of coral cover loss in the Caribbean, and immediate post-hurricane reef response is critical to protect this ecosystem. This project facilitates coordinated response plans, in-the-water skills, and bespoke risk financing instruments (including parametric insurance) that coastal communities need to jump-start reef recovery and maintain the myriad benefits that these high-value natural assets provide. Building on early project success in the Mesoamerican Reef region, MAR Fund and WTW are now working with the Caribbean Biodiversity Fund, Forever Costa Rica Association, and Fondo Acción to scale ecosystem resilience across the Caribbean Basin.