Bermuda Climate Summit Attracts Companies with Approximately $4T of Assets

Hamilton, Bermuda, June 29, 2023 — The second annual Bermuda Climate Summit, presented by the Bermuda Business Development Agency, in partnership with KBRA, attracted 119 separate companies with a total combined assets under management of ­~$4.16 trillion.

The Bermuda Climate Summit attracted 335 delegates, including 101 from overseas, and not only ensured Bermuda remained globally well regarded as a climate thought-leader, but also delivered on its theme to create business solutions, policy, and jobs of the future.

David Hart, BDA CEO, “The BDA was pleased to facilitate important climate risk solution conversations at and around our conference, bringing together financial services leaders, public-policymakers and global NGO heads. In so doing, we are well on our way to increasing foreign direct investment in Bermuda by building out a new climate risk solutions/asset management pillar, adjacent to our globally significant risk and insurance sector. We heard again and again at the conference about how Bermuda is perfectly positioned to be a global capital for blue bonds. The BDA looks forward to continuing to build upon our momentum by holding overseas business development missions throughout 2023, and welcoming delegates back to our third annual Bermuda Climate Summit in 2024.” 

Bermuda’s Deputy Premier, The Hon. Walter Roban, JP, MP, kicked off proceedings on day one alongside Jim Nadler, President & CEO, KBRA, followed by a keynote luncheon with Suzanne Johnson, Senior Advisor, United Nations (UN) Global Compact Ocean Stewardship Coalition. Day two began with presentations from Bermuda’s Premier, The Hon E. David Burt, JP, MP, and His Excellency Abdulaziz Alnuaimi, The Assistant Undersecretary, UAE Ministry of Economy, while Joshua Rosenberg, Chief Risk Officer, Federal Reserve Bank of New York, brought the event to a close alongside Stephen Weinstein, BIOS Chair and past BDA-Chair.

The short-term economic impact of the conference, held at Hamilton Princess & Beach Club from June 26-27, including lodging, transportation, food and beverage, retail, and recreation, was estimated at $1.1 million, and supported 311 local jobs. Our inaugural event, held from May 23-24, 2022, attracted 150 delegates, 70 from overseas, and had an economic impact $575,000.

The BDA is grateful for the continued support of our headline sponsor KBRA, as well as: diamond sponsor Conduit Re; platinum sponsor Aon; gold sponsors Deloitte, Fidelis, and Hub Culture; and silver sponsors Aeolus, Aspen, AXA XL, Belco, Convex, and KPMG. Our supporting sponsors were Butterfield, HSBC and Ocean-Based Climate Solutions, Inc. Our media partners were Bermuda:Re+ILS, Climate and Capital Media, Insurance Insider, and The Insurer. Our spirits partner was Gosling’s Rum.

We also thank our eight local environmental charities – Bermuda Aquarium Museum and Zoo (BAMZ), Bermuda Audubon Society, Bermuda Institute for Ocean Sciences (BIOS), Bermuda National Trust (BNT), Bermuda Ocean Prosperity Programme (BOPP), Beyond Plastic, Keep Bermuda Beautiful (KBB) and Living Reefs Foundation. Special thanks to Aspen for supporting the planting of one tree per Bermuda Climate Summit delegate via our charity partners.

The BDA looks forward to its next conference, the fifth annual Bermuda Tech Summit, being held at Hamilton Princess from October 9-10, 2023 – for more information, please see our website.