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} Ocean Risk Initiative Continued from page 44 Ocean Unite and AXA XL (XL Catlin at the time) alongside other partners, including the IUCN convened the world’s first Ocean Risk Summit in Bermuda in May 2018, bringing together leaders in politics, finance, academia, science, the ocean community and insurance to deepen our understanding of the challenges we will face from ocean derived hazards and cultivate collaborative solutions. We explored issues from national security and migration to food security and global health, and what was absolutely clear was how important it would be for these different sectors to come together, and to develop a common understanding and language to combat ocean risk. Since the Summit, AXA XL and Ocean Unite have deepened our partnership. A new Ocean Risk and Resilience Action Alliance or ORRAA, is being built, together with partners including the Government of Canada, The Nature Conservancy, Bank of America, the UNDP, InterAmerica Development Bank (IDB), Willis Towers Watson, Global Resilience Partnership, Stockholm Resilience Center, and the conservation organisation Rare. The Alliance will bring multiple players together to pioneer breakthrough insurance and finance instruments that drive investment into coastal natural capital, green infrastructure, rebuilding marine biodiversity and growing resilience to ocean change. It is focused on addressing ocean risk and building resilience in the communities that need it most, particularly in vulnerable coastal areas and small island developing states. It also links well with the Sustainable Blue Finance Principles that have been developed by the European Union and WWF. We were delighted when, with leadership from Canada and France, the Alliance was welcomed by the G7 Environment Ministers meeting this past May in France. The ministers noted the under-utilization of economic instruments and supported ORRAA to expand knowledge, build resilience and drive investment, innovation, finance, insurance, expertise and – crucially – political will. All 7 countries as well as the European Union, Fiji, Mexico, Norway and India agreed to become part of the Alliance. Image by kolibri5 from Pixabay We are excited about the ability for ORRAA to pilot and scale solutions. Examples of projects include working to promote resilient and sustainable small-scale fishing practices through the development of micro-insurance products and micro-finance loans. Also, life insurance policies for small-scale fishers, benefiting the financial resilience of families, particularly women. AXA XL and The Nature Conservancy (TNC) are developing a Blue Carbon Resilience Credit, giving both a carbon and resilience value to mangroves, ecosystems which are under particular threat. The Alliance will also use insurance and finance tools to incentivise environmental stewardship for biodiversity, and the development of sovereign and individual parametric insurance measures for coral reefs and mangroves which Image by Claudia Beer from Pixabay THE NATURE CONSERVANCY (TNC) ARE DEVELOPING A BLUE CARBON RESILIENCE CREDIT, GIVING BOTH A CARBON AND RESILIENCE VALUE TO MANGROVES, ECOSYSTEMS WHICH ARE UNDER PARTICULAR THREAT. will ensure swift payouts enabling faster restoration, which is known to reduce harm to both the environment and increase community resilience. We are looking forward to working with our partners as we build the Alliance over the coming months and years. MS Courtesy: Virgin This is a guest blog and may not represent the views of Virgin.com. Please see virgin.com/terms for more details. This post is part of a series produced by Virgin Unite in partnership with Ocean Unite, an initiative to unite and activate powerful voices for ocean-conservation action Image by Marcello Rabozzi from Pixabay Image by David Mark from Pixabay 46 } Issue 10
} Yacht Launch Italian yard Permare has launched the fourth hull in the Amer Cento series. The grey-hulled, 29.6 metre GRP yacht hit the water for the first time on May 24 at the Viareggio based yard. While few details have been released about the fourth model, it is known that the yacht features exterior design and naval architecture by Verme Projects. Amer Cento PERMARE LAUNCHES FOURTH YACHT The interior meanwhile has been designed by Stefano Tini and can accommodate a total of 10 guests in five cabins. The crew quarters allow for a staff of four. Described by the yard as possessing “a sober and velvety refinement”, the 29.6 metre yacht features a grey hull and larger windows on the main and lower decks. A propulsion package of 4 IPS 1200 Volvo Penta engines provide a top speed of 32 knots. The yacht will now undergo sea trials before it makes its debut at the 2019 boat shows. Permare also revealed that two additional hulls in the series are in build at the shipyard. The news comes after the yard revealed the third hull in the Amer Cento series was under construction. MS Courtesy: BI/Yachts Continued from page 45 Lewis Yacht Club, the International Twelve Metre Association (ITMA) America’s Fleet and the 12 Metre Yacht Club. It will be the largestever gathering of 12 Metre yachts in the United States with 21 boats from six countries expected. International teams comprised of elite sailors, including America’s Cup veterans and Olympic medalists, will represent Canada, Denmark, Finland, Italy, Norway and the United States. The 2019 12 Metre World Championship fleet will span the years 1928 -1987, include seven America’s Cup defenders and challengers, and be sailed on Rhode Island Sound, the site of nine America’s Cup competitions from 1958-1983. The 2019 12 Metre World Championship is sponsored by Château d’Esclans – Whispering Angel, Grand Banks Yachts, Gurney’s Marina and Resort, MJM Yachts, North Sails and Vhernier Milano. Official suppliers include Bacardi, Barton & Gray Mariners Club, Code Zero, Harborside Marina, Helly Hansen Newport, McMillen Yachts, Quantum Sails, Robbe & Berking Classics, Sevenstar Yacht Transport, Stella Artois and Trident Studio. Event venue partners are Clarke Cooke House, Ida Lewis Yacht Club, International Yacht Restoration School, Newport Shipyard, Sail Newport and Seamen’s Church Institute. For more information please visit: www.12mrworlds.com/partners ABOUT THE INTERNATIONAL 12 METRE CLASS The 112 year-old International 12 Metre Class encompasses a living history of racing yacht design by the world’s foremost naval architects Photo Credit: SallyAnne Santos The team of Modern Division winner Challenge XII (KA-10) at the Newport Trophy Regatta Prizegiving at Ida Lewis Yacht Club. including Olin Stephens, Clinton Crane, William Fife III, Philip Rhodes, Johan Anker, Ben Lexcen and more who pushed their designs to the very limits of innovation. The resulting boats represented the pinnacle of yacht development from 1907-1987 for the highest levels of international sailing competition – the Olympic Games (1908-1920) and the America’s Cup (1958-1987). MS Place Yacht Name Owner/Skipper Hometown Results Total Points 12m – Grand Prix (One Design – 3 Boats) 1 New Zealand Gunther and Maggie Buerman Highland Beach, FL/Newport, RI, USA 1 -1 -1-2 5 2 Kiwi Magic Johan Blach Petersen Aarhus C, DEN 2 -2 -2-4 10 3 Legacy Jesper Bank / Thomas Anderson Munkebo Fyn, DEN 4 -4 -4-1 13 12m – Modern (One Design – 5 Boats) 1 Challenge 12 Jack LeFort, Jamestown, RI, USA 2 -1 -1-2 6 2 Victory 83 Dennis Williams Hobe Sound, FL./Newport, RI, USA 1 -4-2-1 8 3 Courageous Ralph Isham / Alexander Auersperg / Arthur Santry Newport, RI, USA 5 -2-3-3 13 12m – Traditional (One Design – 2 Boats) 1 Columbia Anthony Chiurco / Kevin Hegarty, Newport, RI, USA 2 -1-2-1 6 2 American Eagle Eagle 2019 Syndicate Middletown, RI, USA 1 -2-1-2 6 For more information on the Newport Trophy Regatta or the 12 Metre Worlds visit www.12mrworlds.com or contact Peter Gerard at pgerard53@gmail.com. www.mbrpublications.net } 47
Page 1 and 2: MAINSAIL } COVER STORY: CUTTING EDG
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