XL Catlin Launches $500,000 Fund for Scientists Researching Ocean Risks

February 24, 2017

XL Catlin has launched a $500,000 fund to support “early career scientists” undertaking research into the changing ocean environment.

The XL Catlin Ocean Risk Grants will be awarded to scientists for final year BSc, Masters and PhD research.

The fund demonstrates “XL Catlin’s commitment to working with scientists to promote a better understanding of the threats to ocean health, as well as their consequences for society, economies and ecosystems around the world,” the company said in a statement.

Previously, XL Catlin has partnered with researchers on a series of expeditions which investigated changes in the ocean, including the Catlin Arctic Survey, XL Catlin Seaview Survey and the XL Catlin Deep Ocean Survey.

“Oceans have not featured significantly in climate agreements, but they are driving many changes which have impacts around the world,” said XL Catlin’s Chief Experience Officer Paul Jardine.

Re/insurers need to understand how the planet is changing and “increase the scale of research into our marine environment,” he affirmed.

He pointed out that ocean risks have a bearing on areas such as food security, geopolitics and extreme weather.

“They are real concerns for business and policymakers and they cannot be ignored. That is why it is critical that we participate in ensuring the viability and sustainability of investment in the ocean,” he Jardine added.

“By supporting research by the best young marine scientists, we are investing in the future of ocean science. Our Ocean Risk Grants represent an exciting new way for us to fund primary research which can make a clear impact in science, policy and beyond.”

The research XL Catlin has previously funded has deepened “understanding of the dramatic sea ice loss in the Arctic, ocean acidification, ocean warming, and ecosystem degradation,” the company said, noting that research it sponsored on health of coral reefs is accessible at the XL Catlin Global Reef Record.

Source: XL Catlin

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