Bermuda Climate Summit Presented by BDA Attracts Global Thought Leaders

Discussions Include Collaborative Solutions to Climate Change 

Hamilton, Bermuda, May 25, 2022 — The Bermuda Business Development Agency (BDA) led a two-day event that drew some 150 attendees, including 70 from around the world, to discuss myriad wide-ranging climate issues, including the science of climate change, the regulatory needs of green investors, and Bermuda’s leadership role in this new era.

The widely attended event began with a welcome reception and dinner on the evening of May 23, followed the next morning by an engaging keynote discussion between the Hon. Walter Roban, JP, MP, Deputy Premier of Bermuda, and Jim Nadler, President and CEO of KBRA. Their dialogue, titled “Why Bermuda Is Positioned as the World’s Climate Risk Capital,” covered Bermuda’s climate efforts, potential benefits created by innovative renewable technologies, and what a new climate finance economic pillar for Bermuda might look like.

BDA CEO David Hart said, “Given the changes we’re seeing in the world, now is the perfect time to discuss climate change and how we can address it from a risk finance and resiliency perspective. Bermuda intends to play a critical role in this effort, and we were thrilled at the strong participation in the inaugural Bermuda Climate Summit, presented by the BDA. It proves that leaders from around the globe are ready to tackle these important issues and examine collaborating with Bermuda for innovative solutions in the expanding role of climate change financial leadership.”

Other highlights included a discussion entitled “Building Resiliency in the Face of Climate Change,” moderated by John Huff, President & CEO of the Association of Bermuda Insurers and Reinsurers (ABIR). This session examined how senior policy makers and the (re)insurance industry can collaborate to support sustainability and resiliency efforts. Esteemed panelists included: Dr. Bronwyn Claire, ClimateWise Lead, University of Cambridge Institute for Sustainability Leadership; Abhisheik Dhawan, Sustainable Finance & Partnership Specialist/Corporate Lead on Climate Change, United Nations Capital Developments Fund; Ekhosuehi Iyahen, Secretary General, Insurance Development Forum; Samantha Medlock, Senior Counsel, Select Committee on the Climate Crisis, U.S. House of Representatives; and Steven E Seitz, Director, Federal Insurance Office U.S. Department of the Treasury. This high-profile group discussed the role (re)insurance plays in the global transition to a lower-carbon economy and why Bermuda stands at the forefront of building resilience and helping to mitigate the effects of climate change.

BDA Chair Stephen Weinstein and Collin O’Mara, the President and CEO of the National Wildlife Federation had a lunchtime conservation conversation; Arizona State University (ASU) President Michael Crow gave a passionate call to action and spoke about ASU’s partnership with the Bermuda Institute of Ocean Sciences (BIOS), while Miqdaad Versi, Head of ESG, Oxbow Partners unveiled a BDA/Oxbow ESG Benchmarking Survey.

The gathering closed with a series of resilience roundtables hosted by KBRA Senior Advisor Mark Baker. Michelle Bachir, Senior Manager, Sustainability & KPI Services, Deloitte moderated a discussion about financial solutions; Dr. Yvonne Sawall, Assistant Scientist, BIOS guided the physical solutions conversation; Arnaud van Dijk, Deputy Head, KPMG IMPACT, KPMG Islands Group discussed Climate Reporting and Disclosure; and Simon Young, Co-Head, Disaster Risk Finance/Parametrics, Climate and Resilience Hub, Willis Towers Watson (WTW) considered policy solutions.

The BDA thanks our sponsors for their generous support, including:

• Leading sponsors: ABIR and KBRA
• Platinum sponsor: Conduit Re
• Gold sponsor: Belco
• Silver sponsor: Aspen
• Lanyard sponsor: AXA
• Beverage station sponsor: Deloitte
• Bronze sponsors: HSBC and Nephila
• Supporting sponsors: Butterfield, Elbow Beach Capital, Hub Culture, KPMG, WTW
• Media partner: Bermuda Re + ILS