{"id":246563,"date":"2026-01-15T18:53:10","date_gmt":"2026-01-15T18:53:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/246563\/"},"modified":"2026-01-15T18:53:10","modified_gmt":"2026-01-15T18:53:10","slug":"bermuda-poised-to-tap-10trn-climate-adaptation-market-the-royal-gazette","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/246563\/","title":{"rendered":"Bermuda poised to tap $10trn climate adaptation market – The Royal Gazette"},"content":{"rendered":"

Created: Jan 15, 2026 08:02 AM (Updated: Jan 15, 2026 08:25 AM)<\/p>\n

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Bermuda\u2019s South Shore feels effects of Hurricane Melissa in October 2025 (File photograph by Akil Simmons)<\/p>\n

Bermuda\u2019s insurance and reinsurance sector could play a central role in a fast-growing global market for climate adaptation, estimated to reach $10 trillion by 2050, according to a new analysis by a senior adviser at KPMG in Bermuda.<\/p>\n

Charlotte Reboul Paradis, senior manager for policy, sustainability and healthcare at KPMG\u2019s Islands Group, said that despite contributing less than 1 per cent of global greenhouse gas emissions, islands were among the most exposed jurisdictions to climate change and were well positioned to develop and export solutions.<\/p>\n

After attending the COP30 climate summit in Brazil, Ms Reboul Paradis said the message from governments and investors was increasingly clear: climate adaptation is both a necessity and a major economic opportunity.<\/p>\n

She pointed to Bermuda\u2019s advanced insurance and reinsurance market as a strategic advantage, particularly in areas such as parametric insurance, catastrophe bonds and resilience-linked financial instruments that can be deployed globally.<\/p>\n

Recent events have shown both the risks and the benefits of preparation. Jamaica suffered losses estimated at more than 30 per cent of GDP following Hurricane Melissa, but also received a payout of more than $90 million through the Caribbean Catastrophe Risk Insurance Facility.<\/p>\n

Ms Reboul Paradis said proven, cost-effective adaptation measures already existed, including early-warning systems, which could reduce disaster damage by up to 30 per cent, and nature-based solutions such as mangrove restoration, which offered higher benefit-cost ratios than hard infrastructure alone.<\/p>\n

She argued that islands can serve as testbeds for climate technologies but scaling solutions would require more private-sector involvement and innovative financing models.<\/p>\n

\u201cAdaptation is not charity,\u201d she said. \u201cFor islands, it is smart economics and long-term strategy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Created: Jan 15, 2026 08:02 AM (Updated: Jan 15, 2026 08:25 AM) Bermuda\u2019s South Shore feels effects of…\n","protected":false},"author":2,"featured_media":246564,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[15751,2885,124032,246,61,60,18040,10515,82,9314],"class_list":{"0":"post-246563","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-environment","8":"tag-catastrophe","9":"tag-climate-change","10":"tag-climate-risk","11":"tag-environment","12":"tag-ie","13":"tag-ireland","14":"tag-kpmg","15":"tag-reinsurance","16":"tag-science","17":"tag-spotlight"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/246563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=246563"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/246563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/246564"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=246563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=246563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=246563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}