AXA Climate renews parametric partnership with AXA México for mangroves protection

AXA Climate, an arm of the global insurance group AXA, has renewed its partnership with AXA México and ClimateSeed this year to continue supporting a vital mangrove protection project.

This collaboration aims to provide a parametric insurance product designed to safeguard both the community of fishermen and the vital ecosystems in the area from the impacts of hurricanes.

San Crisanto, home to 150 Mayan families, is one of Yucatán’s standout communities, internationally recognised for the BlueCarbon capture potential of its 700 hectares of mangroves.

The San Crisanto mangroves are essential for the environment, acting as powerful carbon sinks that absorb and store carbon dioxide at a rate ten times higher than terrestrial forests.

The mangroves also play a key role in protecting against coastal flooding while supporting the livelihood of the local Mayan community.

This insurance will allow swift financial support to facilitate the restoration of mangrove forests and repair essential infrastructure in the aftermath of natural disasters.

AXA Climate added: “By continuing this partnership, we remain committed to addressing the dual challenges of environmental conservation and community resilience!”

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