Flood Re CEO Andy Bord has warned that flood resistance is not being prioritised.
Bord was speaking at the World Climate Foundation, part of COP26 in Glasgow on November 7, on the theme of ‘Investing and Insuring for Resilience – Managing Risks and Redirecting Capital into Resilience Enhancing Investments’.
He told an audience of over 600 delegates that there “needs to be a continued long-term commitment to flood defences including the role of natural flood management”.
He added that “homes need to be built, but they need to be built in the right place and in the right way. There needs to be transparency and enforcement to ensure that we do not end up with a housing stock that is less resilient.”
The event was moderated by Michaela Koller, director general, Insurance Europe.
Speaking after the panel event, Bord said: “Climate change is happening now – and it is only going to get worse. I applaud the efforts taking place in Glasgow to reduce emissions to meet net zero, but we need to urgently adapt now to the increased frequency of flooding and extreme weather events. Resilience is not being prioritised.
“There is a growing need for continued investment not only in flood defences, but in measures to adapt homes and communities to make them more resilient to rising temperatures and an increased risk of flooding.”