AXA has announced its support for the Insurance Development Forum’s (IDF) Infrastructure Resilience Development Blueprint.
The initiative seeks to mobilise insurance sector investments to boost vulnerable communities in emerging and developing economies in the fight against climate change and other natural disasters.
The IDF Infrastructure Task Force introduced the Blueprint concept earlier this year. The aim was to drive greater mobilisation and investments from the insurance sector into smaller to mid-size commercial infrastructure projects in developing and emerging markets.
These projects included: investments in renewable energy, water, waste, transportation, social infrastructure such as hospitals, education, government-backed housing, digital infrastructure, and telecommunication. It also focused on nature-based solutions to enhance community resilience against climate risks and natural disasters.
The IDF collaborated with BlackRock to implement the Blueprint.
Ultimately, the IDF explained that its goal is to create a scalable solution for infrastructure resilience projects that can quickly enter the market and produce measurable positive outcomes for vulnerable communities.
Jean-Baptiste Tricot (pictured above), group chief investment officer of AXA, stated that its involvement in the project demonstrates a commitment to supporting resilience.
“Our involvement in the Infrastructure Resilience Development Blueprint reflects our commitment to leveraging insurance sector capabilities to support resilient infrastructure development and protect vulnerable communities in addition to maintaining our usual investments’ objectives including risk selection and returns,” Tricot said.
Michel Liès, chair of the IDF Steering Committee, expressed appreciation for AXA’s participation in the initiative.
“Their expertise and unwavering commitment have significantly enhanced our collective efforts in constructing resilient infrastructure and protecting communities from climate risks. The momentum behind the Infrastructure Resilience Development Blueprint is growing rapidly, and AXA’s support stands as a strong commitment of the IDF to mobilise impactful insurance sector investments to achieve tangible, near-term results for vulnerable populations,” Liès said.
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