PIISA (Piloting Innovation Insurance Solutions for Adaptation) is a Horizon Europe project that brings together 12 organization’s from 5 European countries, and is co-developing climate resilient insurance portfolios.
The project consists of several pilots, including one that aims to provide cost-benefit analyses of green roofs as a climate change adaptation option in the main pilot location in the Netherlands. The effectiveness of insurance solutions to stimulate the adoption of green roofs are being tested in this pilot as well, e.g. information provision and insurance premium discounts. Various enablers and barriers of the uptake of green roofs are being examined as well. Based on this work, public-private partnerships will be identified to investigate sustainable finance arrangements that stimulate investments in green roofs. Business models for the Europe insurance industry will also be developed for the upscaling of nature-based solutions for climate risk. Using expert interviews and workshops it is also being examined how the results for the Netherlands are transferable to other pilot regions, i.e. the Boreal and Mediterranean, using qualitative analysis.
Insurers, e.g. Interpolis, have been involved in the co-creation process for the research in the pilot. Furthermore, (potential) policy holders have been involved in the research process through economic experiments within which the (biodiversity, flood risk reduction, etc.) values of green roofs and the effectiveness of insurance solutions to stimulate the adoption of green roofs have been tested. Insurers, municipalities, water authorities and real estate institutions are being involved in the identification and development of public-private partnerships of sustainable finance arrangements for investments in green roofs. City policymakers and insurers are being interviewed and included in workshops in the Netherlands, and the Boreal and Mediterranean regions to examine how costs and benefits of green roofs differ, and whether additional barriers and enablers should be considered in the scaling up of green roofs as an insurance solution.
Partners involved:
- Institute for Environmental Studies (IVM), Vrije Universiteit (VU) Amsterdam(Lead)
- Climate Adaptation Services (CAS)
- Finnish Meteorological Institute(FMI)
- Tyrsky Consulting
- Politecnicodi Milano (Polimi)
For more information visit: https://piisa-project.eu/pilot1
