We acknowledge the indispensable role of collaboration in shaping the trajectory towards a sustainable future. Collaboration and joint efforts are essential, as no single entity can address the complexities of climate change in isolation. Fidelidade stands ready to collaborate with universities, experts, and other relevant stakeholders to accelerate progress towards a sustainable and climate-resilient future. Climate change is the challenge of our lifetime which requires multi-stakeholder collaboration and Fidelidade is ready to play its part.
To materialize this ambition, Fidelidade has created the Center for Climate Change, a study and research center whose goal is to combine the Group’s internal skills and capacities with scientific researchers and other relevant stakeholders to create and stimulate climate literacy and relevant knowledge – for the insurance business and also for society as a whole – on climate change, by conducting and promoting high-quality, publicly available research papers / books and public events such as conferences.
The CCC’s action plan embraces 5 complementary dimensions: hazard, exposure, vulnerability, resistance, and recovery.
During 2024, CCC will be focused, among other topics, on mapping climate change related protection gaps and define a strategy to reduce it (in the countries where Fidelidade Group has a relevant market position) and sponsoring scientific research about Wildfire Risk and adaptation in Portugal. All research represents important inputs to improve property insurance risk monitoring, pricing, and underwriting.
With CCC, Fidelidade builds strong partnerships to bridge the communication gap between climate science and society, promoting awareness and actions to reduce vulnerabilities and improve resilience
Please, find here our scientific article about the impact of hurricanes on a property portfolio.
