The Bermuda Underwater Exploration (BUEI) Institute is proud to announce the Island’s inaugural Youth Climate Summit taking place November 22 – 27. The week-long event aims to prepare and empower students, ages 13-22, to address climate issues on a local level and is the foundation for a year of youth-lead sustainability, conservation, and climate justice initiatives.
“By providing young people with background information, the opportunity for group deliberation, and access to a resource panel of experts, the Youth Climate Summit offers a unique opportunity for participants to work together, develop informed opinions, and produce action plans,” said BUEI CEO, Karla Lacey.”
As Transformational Founding Partners, AXA XL and HSBC Bermuda are committed to supporting the vision of the Youth Climate Summit. These valued partners are equally providing a range of resources beyond financial contributions, including their time, talent and thought leadership to support young people in their pursuit of transformative solutions to climate change – one of the most significant global issues of our time that will have a definitive impact on our future.
As a re/insurance industry leader, AXA, including the AXA XL division, have made sustaining their climate leadership position a strategic priority. They are taking decisive action within and outside the organization to address the impacts of climate change. This includes:
• Setting bold targets such as reaching €25 billion in green investments by 2023; reducing carbon footprint of AXA’s general account assets by 20% by 2025; and reducing exposure to the thermal coal industry to zero by 2030 in the European Union and Organisation for Economic Co-operation and Development (OECD) countries, and by 2040 in the rest of the world.
• Spearheading the creation of the Net-Zero Insurance Alliance, an industry alliance to promote climate neutrality in insurance underwriting practices
• Supporting the development of verified “Blue Carbon Resilience credits” with global environmental nonprofit, The Nature Conservancy, which quantify both the carbon stored in coastal wetlands, along with the flood resilience benefits they provide.
“We all have a responsibility to take better care of our planet, and the ecosystems and communities that depend on it. We at AXA XL are pleased to support this inaugural event which provides a platform for Bermuda’s next generation of leaders and influencers to share their passions, perspectives, and proposals about the impact of climate on their present and future world,” said Suzanne Scatliffe, AXA XL’s Global Sustainability Director. HSBC’s global strategy includes a commitment to a Global Net Zero Economy by the year 2030. Locally, that translates to supporting initiatives that foster community engagement in environmental sustainability projects and lead to measurable outcomes.
“HSBC Bermuda recognizes the Youth Climate Summit as a vital step in building an inclusive, collaborative and thoughtful catalyst for climate awareness and change in Bermuda, driven by our own passionate young environmental advocates,” said Louise Twiss West, HSBC’s Head of Wholesale Banking, Sustainability Leader and Co-Chair of the Sustainability Employee Resource Group.
With rising sea levels and the changing frequency and severity of catastrophic events, including hurricanes, Bermuda is not immune to the impending effects of climate change. Further, the Island’s re/insurance sector has paid more than $400 billion dollars in claims in the US since 1997. More than half that amount has been paid from 2016 – 2020, reflecting both an increase in damage done by natural disasters on a yearly basis and our growing global position on the climate stage.
“Bermuda’s size gives us the ability to unite to solve problems quickly and effectively,” said Lacey. “We are in a one-of-a-kind position to be at the forefront of innovation concerning all aspects of how we as global citizens handle climate change.”
From Bermuda’s unique ecological/geographical standpoint to our experience in re/insurance, the Youth Climate Summit provides an opportunity to demonstrate the immense impact our Island can make in leading climate-focused initiatives.
In addition to the Founding Partners, the Bermuda Climate Summit is supported by Visionary Partners Aspen Bermuda, Renaissance Re and Deloitte to promote thinking about the future in a creative and imaginative way; and Inspiration Partner Hiscox Bermuda, among other valued organizations.
For more information on Bermuda’s Youth Climate Summit visit www.YCSBDA.com.