Ladies and gentlemen,

Its great to see you all today.

Dear Marina, thank you for your kind words. Your efforts for Brazil and the world in preparing for the next COP are remarkable.

As a history enthusiast, I recently read about the French Revolution, noting the droughts and resource scarcity of 1788 that contributed to its onset.

While the link between food prices and revolution is complex, history shows that scarcity often leads to conflict.

Climate change exacerbates this issue, with rising temperatures increasing international tensions over resources.

The melting Arctic ice is shifting geopolitical dynamics, particularly enhancing Russias assertiveness in the North.

In Africa, migration is driven by drought and water scarcity.

Closer to home, Europe is experiencing a dramatic rise in floods and droughts. As the world warms by 1.5 degrees, Europe is warming by 3 degrees, with some areas facing even more severe changes.

The scientific community warns that the situation will worsen before it improves. Our homes, food systems, and lifestyles are under threat; we must be prepared.

While mitigation efforts are crucial, adaptation and preparedness must also be prioritized.

Next year, the European Commission will propose a European Climate Adaptation Plan to aid Member States in planning and risk assessment.

This plan will clarify investment directions and business models suited for a changing climate.

Resilience is a collective responsibility, engaging the insurance sector and financial institutions in dialogue.

As Marina Silva mentioned, adaptation is a global necessity.

Governments can raise awareness, map vulnerabilities, and establish clearer requirements for businesses and households regarding insurance and risk exposure.

Above all, the European Adaptation Plan will integrate the principle of “Resilience by Design” into policymaking.

This shift in mindset is essential for effective governance.

Ladies and gentlemen, much work lies ahead.

Significant progress has been made in both adaptation and mitigation.

With so many brilliant minds present, I am confident we can tackle these challenges and advance adaptation, resilience, and necessary financing.

Thank you for being here.