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As climate change exacerbates the effects of storms, flooding and erosion, the lives and livelihoods of hundreds of millions of those people will be at risk. In fact, the latest edition of the World Economic Forum's World Risk Assessment Report names failure to adapt to the effects of climate change as the single greatest risk, in terms of impact, to societies and economies around the world.Some of the most effective and cost-effective solutions are already available in nature.The Paris climate agreement, reached last December and signed last month, not only established a consensus on the importance of addressing climate change, but also explicitly affirmed that ecosystems play a role in capturing greenhouse gases and helping communities adapt to the effects of climate change.Even the insurance industry – comprising what may be the most risk-averse companies in the world – sees the potential in natural solutions.It is not surprising, then, that the reinsurer Swiss Re has conducted studies on mitigating the costly risks of hurricanes to coastal communities.In the face of rising climate and disaster risk, investments in nature-based solutions can protect lives and safeguard prosperity in a cost-effective manner – all while preserving imperiled natural ecosystems around the world.
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