Engineering Commons^™

From Disaster To Development: Finance Provides A Platform To Empower Technology For Resilience To Climate Change, Daniel B. Oerther

Civil, Architectural and Environmental Engineering Faculty Research & Creative Works

The Sendai Framework for Disaster Risk Reduction emphasizes four principles: understanding risk; strengthening governance; investing in resilience; and building back better. Parametric insurance, offered to nations, provides a financial platform to pool and transfer risk from the regional to the global marketplace. The Caribbean Ocean Assets Sustainability faciliTy (COAST) expands upon the prior success of parametric insurance by providing a new platform to more fully link policy and technology with the aim of increasing disaster resilience. COAST focuses upon the nexus among food and nutrition security, the health of the ocean, and the occurrence of severe weather in the Caribbean …