REDUCING RISK FROM
A CHANGING OCEAN

Tuesday 08 - Thursday 10 May 2018 // Bermuda

ABOUT THE OCEAN RISK SUMMIT

Leaders from across the political, economic, environmental and risk sectors will gather in Bermuda for the first Ocean Risk Summit. The event will present high-level speakers providing expert data, analysis and innovative tools to help participants identify potential exposures to ocean risk and prepare to tackle its broad-ranging consequences. Together, attendees at the summit will help generate new and dynamic solutions.

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KEY TOPICS

The summit will examine the challenges and risks posed by ocean change and identify the opportunities it presents for innovative approaches to building resilience and mitigating its effects through applied solutions.

OUR CHANGING OCEAN

The ocean is changing faster than at any time in the past 65 million years. This has implications which threaten economies, cultures, societies and our environment. The need to understand the impacts of ocean change has provided the impetus for the Ocean Risk Summit.

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MANAGING & REDUCING OCEAN RISK

Leaders in politics, policy-making, finance, environmental management, technology, risk management, law and regulation need more information about the challenges that ocean change presents. This will help us define and quantify ocean risk so that we can develop effective mitigation and adaptation strategies, and shape a more sustainable future for the ocean.

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BUILDING RESILIENCE

The ocean’s value to life on earth and its potential to drive sustainable economic growth are being jeopardized because of the risks borne out of ocean change. Governments, policy makers and other stakeholders can act to build resilience in the ocean and in societies as they face the impacts of change. New approaches will help nurture sustainable development.

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APPLIED SOLUTIONS

Effectively addressing ocean risk requires a multi-sectoral approach. Technological advances in collecting ocean data now make the assessment and management of ocean risk feasible, providing the opportunity to develop innovative and scalable solutions. New financial instruments will also drive the mitigation of ocean risk.

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SPEAKERS

A wide range of experts will present data and analysis about ocean risk and encourage participants to develop new ways of addressing its consequences.

HSH Prince Albert II of Monaco


Fondation Prince Albert II de Monaco

HM Queen Noor


Ocean Elders

The Hon C Walton D Brown Jr

Minister of Home Affairs


Government of Bermuda

José Maria Figueres

Former President of Costa Rica, Founder Ocean Unite


OCEAN UNITE

Dr the Hon Kedrick D Pickering

Deputy Premier


Government of the Virgin Islands

John Podesta

Distinguished Visiting Prof


GEORGETOWN UNIVERSITY LAW CENTER

The Hon Dominic LeBlanc

Minister of Fisheries, Oceans and the Canadian Coast Guard


Government of Canada

H E Ambassador Marlene Moses

Permanent Representative of Nauru


United Nations

Kristin Jacobs

Member


Florida House of Representatives

Vice Admiral Michael T Franken

Vice Admiral (retired)


US Navy (Retired)

Ambassador Peter Thompson

Special Envoy for the Ocean


UNITED NATIONS

Maryam Golnaraghi

Director Extreme Events and Climate Risks Programme


THE GENEVA ASSOCIATION

Mike McGavick

Chief Executive Officer


XL CATLIN

Steven Adler

Chairman


Ocean Data Alliance

Timothy A. Bouley, MD

Founder and Program Lead, Climate Change and Health


The World Bank

Sir Richard Branson

Founder


Virgin Group

Gregory Clough

Acting Director


Oceans Beyond Piracy

Dr Annette Detken

Heads the Sector Policy Unit Economic Development and Education


KfW Development Bank

Chip Cunliffe

Director, Sustainable Development


XL CATLIN

Prof Bill Curry

President and Chief Executive Officer


BERMUDA INSTITUTE OF OCEAN SCIENCES

Rowan Douglas CBE

Head of Capital, Science & Policy Practice


Willis Towers Watson

Prof Kerry Emanuel

Cecil & Ida Green Prof of Atmospheric Science


MASSACHUSETTS INSTITUTE OF TECHNOLOGY

Charles Goddard

Editorial Director


Economist Intelligence Unit

Valerie Hickey

Practice Manager for Environment and Natural Resources in Latin America and the Caribbean


The World Bank

John Huff

President and CEO


ABIR

Leonard Jones

Managing Director


Moody's Public Finance Group

Justin Locke

Director


Rocky Mountain Institute’s Islands Energy Program

Tony Long

CEO


GLOBAL FISHING WATCH

Carl Gustaf Lundin

Director Global Marine and Polar Programme


IUCN

Maria Damanaki

Global Managing Director for the Ocean


THE NATURE CONSERVANCY

Craig McLean

Acting Chief Scientist


NOAA

Kathy Baughman McLeod

Global Environmental and Social Risk Executive


BANK OF AMERICA

Dr Essam Yassin Mohammed

Senior Economist


International Institute for Environment and Development (IIED)

Dr Robert Muir-Wood

Chief Research Officer


risk management solutions

Dr Jenna Jambeck

Associate Prof of Environmental Engineering


UNIVERSITY of georgia

Dr Falk Niehörster

Director


Climate Risk Innovations

Yoshitaka Ota

Research Assistant Prof


University of Washington

Brendan Plessis

Executive Vice President, Emerging Markets


XL CATLIN

Prof Elizabeth J Z Robinson

Prof of Environmental Economics


University of Reading

Prof Alex Rogers

Scientific Director


Nekton

Oliver Steeds

CEO and Mission Director


Nekton

Karen Sack

Managing Director


OCEAN UNITE

Prof Rashid Sumaila

Director of the Fisheries Economics Research Unit & OceanCanada Partnership


The University of British Columbia

Kristian Teleki

Engagement Director


OCEAN UNITE

Torsten Thiele

Founder


Global Ocean Trust

Dr Tammy Warren

Senior Marine Resources Officer


Government of Bermuda Department of Environment and Natural Resources

Mark Way

Director, Global Coastal Risk & Resilience


The Nature Conservancy

Sally Yozell

Director Environmental Security Program


THE STIMSON CENTER

Zachary Harding

CEO


Caribbean Climate-Smart Accelerator

Dr Lucy Woodall

Marine Ecologist


University of Oxford/Nekton

Jamie Buchanan-Dunlop

Founder & Director


Digital Explorer

AGENDA

Tuesday 08 May

Wednesday 09 May

Thursday 10 May

TUESDAY AGENDA

Registration

14:30-17:30

Welcome cocktails, Sponsored by Bermuda Business Development Agency

18:00-19:30

WEDNESDAY AGENDA

SESSION 2

9:30-10:30

Setting the scene: What is ocean risk?

An overview of ocean risk, a new and still-evolving concept. Ocean risk describes the interconnected changes taking place in the ocean and their impacts on marine ecosystems, our economy and society as a whole.

Changing ocean, changing planet: Ocean/climate - science perspective

The ocean is changing faster than at any time in the past 65 million years. This session will highlight the scientific basis behind the changes taking place and what to expect in the future.

- Craig McLean // Acting Chief Scientist, NOAA

- Prof. Ove Hoegh-Guldberg, Director, Global Change Institute, University of Queensland

Ocean change: a Bermuda perspective

Bermuda is on the frontline of ocean change, exposed to declining fish stocks, an expected increase in tropical cyclone intensity and rising sea levels. The session will discuss the situation in Bermuda and explore the ocean risk realities for this Atlantic island country.

Prof. Bill Curry // President and Chief Executive Officer, BIOS

10:30-11:15

Networking break

SESSION 3

11:15-11:35

The ocean risk approach: Insurance and finance perspective

Tropical cyclones and other ocean-driven perils can spell economic and environmental disaster for local communities. A 1% increase in insurance penetration can reduce the disaster recovery burden on taxpayers by 22%. This session will examine the critical role insurance can play in helping to manage and reduce ocean risk.

Rowan Douglas CBE // Head of Capital, Science and Policy Practice, Willis Towers Watson

11:40-12:40

Ocean volatility: Markets and trends

Changes in the health of the ocean and related volatility directly affect the economy, increasing the chance of larger losses but also potential gains. Given the decline in ocean health, the need for products that allow asset owners to deal with possible eventualities is rising, in terms of both insurance and trading.

- Charles Goddard // Editorial Director, Economist Intelligence Unit

- John Huff // President and CEO

- Dr Essam Yassin Mohammed // Senior Economist, IIED

- Kathy Baughman McLeod // Global Environmental and Social Risk Executive, Bank of America

- Lenny Jones, Managing Director // Moody’s Public Finance Group

12:40-14:00

Lunch

SESSION 4

14:00-14:15

Keynote speech

Understanding ocean warming/risk & its multiplier effects - Human Health; Migration; Food Security; National Security

HM Queen Noor of Jordan

14:15-15:30

Deep dive: Weather and climate

The ocean regulates our climate and drives the world’s weather systems, but as the ocean changes, the nature, frequency and intensity of extreme weather events will require continuous reassessment. The session will look at what is needed to make communities and businesses better prepared for and more resilient to ocean-related weather risks.

- Karen Sack // Managing Director, Ocean Unite

- Dr the Hon. Kedrick D. Pickering // Deputy Premier, Government of the Virgin Islands

- Prof. Kerry Emanuel // Prof of Atmospheric Science, MIT

- Dr. Maryam Golnaraghi // Director Extreme Events and Climate Risks Programme, The Geneva Association

- Dr Robert Muir-Wood // Chief Research Officer, RMS

15:30-16:15

Networking break

SESSION 5

16:15-17:30

Deep dive: Health and security

National security and human health and well-being are facing increasing threats from risks associated with ocean degradation and climate change, which have led, for example, to a rise in pathogens, contaminants, tropical diseases, illegal fishing and piracy. The session will explore these risks and look at possible mitigation measures.

- John Podesta // Distinguished Visiting Prof, Georgetown University Law Center

- Vice Admiral Michael T. Franken // US Navy (Retired)

- Prof. Elizabeth J. Z. Robinson // Prof of Environmental Economics, University of Reading

- Timothy A. Bouley, MD // Founder and Program Lead, Climate Change and Health, The World Bank

- Yoshitaka Ota // Research Assistant Prof, University of Washington

19:00-21:00

Beach BBQ

THURSDAY AGENDA

7:30-8:50

Networking breakfast

SESSION 1

9:00-9:30

The ocean in a time of change

Keynotes from HSH, Prince Albert of Monaco and H.E. Ambassador Marlene Moses of Nauru – global leaders from the North and South.

HSH Prince Albert II of Monaco

H.E. Ambassador Marlene Moses of Nauru

SESSION 2

9:30-9:45

Education, Innovation & Exploration - Part I

Motivating young scientists to help understand the nature and scale of ocean issues is the first step in developing innovative solutions and is key to driving future sustainable development in and around the ocean. This session will look at the Arctic and some cutting-edge science and thinking.

- Chip Cunliffe // Director, Sustainable Development, XL Catlin

- Oliver Steeds // CEO and Mission Director, Nekton

- Alex Rogers // Scientific Director, Nekton

9:45-10:00

Building resilience in Florida

This session will focus on the steps cities are taking to build resilience to change.

Kristin Jacobs // Member, Florida House of Representatives

10:00-10:15

Solutions Part 1: Building an ocean risk index?

To better comprehend ocean risk we need to gather relevant and actionable metrics to understand the drivers of ocean deterioration and measure vulnerability to change in different countries. This session will introduce the concept of developing an Ocean Risk Index and focus on identifying practical solutions to addressing ocean risk.

10:15-11:00

Networking break

SESSION 3

11:00-12:00

Interactive working group I: Focus - Natural capital and ecosystem services

The ocean is a significant source of goods and generator of services to the world’s economy, and could be ranked as the world’s 7th largest economy. However, its value is threatened by overexploitation, misuse and climate change. Given the critical importance of the ocean for economic development, how can governments and business use Natural Capital Accounting to promote sustainable planning of marine resources?

- Kathy Baughman McLeod // Global Environmental and Social Risk Executive, Bank of America

- Prof Rashid Sumaila // Director of the Fisheries Economics Research Unit and OceanCanada Partnership, The University of British Columbia

- Dr Falk Niehörster // Director, Climate Risk Innovations

- Mark Way // Director, Global Coastal Risk & Resilience The Nature Conservancy


Interactive working group II: Focus - Cities, islands, coastal infrastructure & tourism

Ocean industries together make up one of the fastest growing segments of the global economy, from traditional sectors, like shipping and tourism, to new and emerging industries, such as marine biotechnology. How can companies update risk management approaches to prepare for potentially systemic shocks caused by changes in the ocean? How can finance be used to transition to a sustainable blue economy? What should be done to ensure that growing awareness of the value and vulnerabilities of these coastal ecosystems is matched with action to protect them and the property and lives they shield?

- Charles Goddard // Editorial Director, Economist Intelligence Unit

- Kristin Jacobs // Executive Director, Resiliency Florida

- Justin Locke // Director, Rocky Mountain Institute’s Islands Energy Program

- Dr the Hon. Kedrick D. Pickering // Deputy Premier, Government of the Virgin Islands

12:00-13:00

Interactive working group III: Focus - Regenerating ocean life

Ocean warming, rising acidity and decreasing oxygen levels are provoking biological responses in almost every marine ecosystem. There is an urgent need to regenerate ocean life by reducing stressors and enhancing the ocean’s resilience, ensuring its capacity to provide life-supporting services and produce economic revenue in the future. What actions can be taken to best remediate the current trajectory of decline of the ocean?

- Carl Gustaf Lundin // Director Global Marine and Polar Programme, IUCN

- Prof. Alex Rogers // Scientific Director, Nekton

- Dr Tammy Warren // Senior Marine Resources Officer, Government of Bermuda Department of Environment and Natural Resources

- Maria Damanaki // Global Managing Director for the Ocean, The Nature Conservancy


Interactive working group IV: Focus - Fishing and aquaculture

Fishing and aquaculture will become even more vital to the food security of a rising global population in the coming years. But both face challenges, from a warming ocean to vulnerability to diseases and pollution. How can the fishing and aquafarming industries be made more resilient and protected against loss?

- Sally Yozell // Director Environmental Security Program, The Stimson Center

- Tony Long // CEO, Global Fishing Watch

- Gregory Clough // Acting Director, Oceans Beyond Piracy

- Geir Myre // Head of Aqua Culture Insurance, XL Catlin


Interactive working group V: Focus - Marine pollution including litter and plastics

Even though marine pollution is benefitting from media attention, increasing community awareness and campaigns, far more action is needed to solve this crisis, including more effective waste management and stronger engagement by the private sector. What incentives could be introduced to encourage investment and innovation to help solve the marine pollution crisis?

- Kristian Teleki // Engagement Director, Ocean Unite

- Dr Lucy Woodall // Marine Ecologist, University of Oxford/Nekton

- Dr Jenna Jambeck // Associate Prof of Environmental Engineering, University of Georgia

13:00-14:00

Lunch

SESSION 4

Solutions part 2: Ocean risk solutions

14:00-14:15

Education, innovation and exploration: Part II

To reduce ocean risk and improve ocean health we need a more enlightened and ocean-literate world. Engaging young people is the first step towards developing innovative solutions and is key to driving future sustainable development in and around the ocean. This session will explore the depth of the ocean to reveal the unknown for the benefit of humankind.

- Chip Cunliffe // Director, Sustainable Development, XL Catlin

- Jamie Buchanan-Dunlop // Founder & Director, Digital Explorer

14:20-15:20

Financing ocean risk solutions

With global economic losses from disasters estimated at US$ 300 billion annually, policy-makers and businesses urgently need to assess their ocean risk exposure and vulnerabilities. Funding solutions that mitigate ocean risk at scale requires innovative finance mechanisms and pathways for multiple sectors. The session will focus on case studies from around the world.

- Brendan Plessis // Executive Vice President, Emerging Markets, XL Catlin

- Zachary Harding // CEO, Caribbean climate-smart accelerator

- Dr Amal-Lee Amin // Chief of the Climate Change Division, Inter-American Development Bank

- Torsten Thiele // Founder, Global Ocean Trust

- Valerie Hickey // Practice Manager for Environment and Natural Resources in Latin America and the Caribbean, World Bank

- Dr Annette Detken // Heads the Sector Policy Unit Economic Development and Education, KFW Development Bank

15:20-15:30

Announcement

15:30-16:00

Networking break

SESSION 5

16:00-17:00

Ocean risk solutions: New horizons

Out of adversity comes opportunity, and the ocean is no exception. While the current trajectory of ocean health is in decline, sustainable solutions and the path to recovery represent a significant opportunity for people and economies. This session will feature innovators working in a range of industries to develop solutions to tackling ocean risk.

- Rowan Douglas CBE // Head of Capital, Science and Policy Practice, Willis Towers Watson

- Steven Adler // Chairman, Ocean Data Alliance

- Dr Falk Niehörster // Director, Climate Risk Innovations

18:15-19:15

Cocktails on the lawn

19:15-

*subject to change

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BERMUDA

Bermuda is in a unique position to highlight ocean risk and take a leading role on behalf of other small nations as both a centre for marine science and a hub for the re/insurance sector. The island is on the frontline of ocean change, exposed to declining fish stocks, an expected increase in tropical cyclone intensity and rising sea levels.

RATES AND REGISTRATION

Please register your interest in attending the Ocean Risk Summit 2018 in Bermuda.

Individual

$995



NGO / Charity / Academia

$995

To complete your registration for the Ocean Risk Summit, please click the register button below.

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