Tokio Marine Group has announced that it is partnering with the Resilient Cities Network (R-Cities) to support cities to develop holistic portfolios of resilience projects.
The partnership establishes Tokio Marine Group as the first underwriting partner for the newly formed Resilience Finance Taskforce, which aims to build urban resilience through targeted financial and insurance solutions.
The Japanese general insurance giant says that many cities have comprehensive resilience strategies, but don't have the capital or resources to proactively create resilient project portfolios that are attractive to investors.
Ms Lauren Sorkin, executive director of Resilient Cities Network, said, "We need to put cities back in the driver's seat, empowering them to attract investments that will allow their communities and businesses to thrive, resilient to whatever shocks and stresses may come. Strategic investment and policy change that builds resilience is more urgent than ever. The partners aligning for the Taskforce are well-placed to do just that."
Through this new partnership, Tokio Marine Group companies will provide expertise and support to the taskforce with a focus on developing commercially viable finance and insurance solutions for project portfolios that enhance climate resilience in more than 100 cities."
R-Cities brings together global knowledge, practices, partnerships, and funding to empower its members to build safe and equitable cities for all. Its unique city-led approach ensures cities drive the agenda to benefit the communities they serve. R-Cities is at work in over 100 cities worldwide.