In recent years and decades, the world has witnessed a rapid increase in alarming developments—ranging from natural and man-made disasters to geopolitical upheavals, systemic breakdowns, and the erosion of long-established world orders. These profound shifts have shaken the foundations of societies and generated uncertainty, confusion, and despair across global communities.

From the destabilization of democratic institutions to the accelerating consequences of climate change, we are facing a convergence of challenges that affect every dimension of human life—economic, ecological, technological, political, legal, and social. Many of these disruptions are not random but are deeply rooted in man-made structures and actions, raising urgent questions about responsibility, preparedness, and the paths forward.

“Thriving Together” is not just a call for resilience—it is a collective invitation to envision and co-create futures where individuals, groups, and societies can move beyond survival and into sustainable flourishing. As we reorient ourselves in a landscape of risk and uncertainty, this conference will explore the critical question: How should we respond, and what long-term strategies, values, and transformations must we consider to thrive—together?

This gathering aims to foster deep reflection and bold dialogue across disciplines and sectors. It will bring together voices from around the world to discuss:

• Adaptive capacities in times of disruption
• Democratic renewal and social cohesion
• Ecological sustainability and climate resilience
• Technological responsibility and innovation
• Shared narratives for hopeful and inclusive futures

In the spirit of mutual learning, collaboration, and care, this conference will create a space to explore what it truly means to thrive—not alone, but together.

The in-person conference will be hosted by the Institute for Futures Research and Stellenbosch Business School  in Bellville, Cape Town. The conference aims to bring together 150 participants from all over the world to share their thinking and research on possible futures.

The event is the last out of five Mutual Learning Events series, each with over thirty foresight practitioners and/or research and innovation policy-makers experts from across the European Union (EU). The format of these workshops has been designed to allow for mutual exchange and learning among participants: a few keynotes as well as interactive sessions where all participants can share their experience, ideas and questions.

The series of events is organised as part of the project Eye of Europe, a Coordination and Support Action funded by the Horizon Europe Programme, aimed at enhancing the integration of foresight practices into science, technology, and innovation (STI) policymaking across the EU. The Technology Centre Prague (TC Prague, Czechia) together with the National Agency for Research and Development of Republic of Moldova as the local organiser oversee organising this event. Technology Centre Prague, which is responsible for all the MLEs and their content, is a key Czech national think tank and academia-based NGO which has a long and rich experience in supporting knowledge-based policymaking as well as in foresight processes and expert-based forward-looking exercises and trainings. National Agency for Research and Development (NARD) is the Moldovan government authority responsible for implementing the national programme on research and innovation, promoting excellence, and supporting collaborative projects through competitive funding and partnership initiatives.

The topic of Foresight culture in Europe: How to use foresight for (STI) knowledge-based policy making?
shall bring discussions on importance of collaboration among researchers, policymakers, and industry experts in
foresight activities and explore ways to break down silos and promote knowledge exchange across disciplines in
Moldova as well as in the rest of Europe or even globally.

Project and Workshop Overview

The MedEWSa project aims to couple cutting-edge extreme weather forecasts, as part of an early warning system, with innovative risk transfer solutions, such as parametric insurance and forecast-based financing (FbF), to effect rapid recovery from climate disasters for regions across Europe, the Mediterranean, and Africa.

The purpose of the workshop is to collect input for making actionable decisions on specific risk transfer solutions depending on the peril and the region from stakeholders with a vested interest in facilitating such recovery. The workshop is a unique opportunity for stakeholders to collaborate on climate adaptation finance, ensuring sustainable economic resilience in the face of increasing climate-related disasters.

Who Should Attend?

• Policy Makers & EU Institutions (DG-ECHO, DG-REGIO, DG-FISMA, DG-CLIMA, ECB)
• (Re)Insurers & Brokers
• Government Representatives (disaster-prone regions such as Greece, Slovakia, and Sweden)
• Financial Institutions & Investors
• Crisis Managers & Emergency Responders
• Technology & Infrastructure Experts
• Academia & Research Institutions

Why Should You Attend?

• Share your knowledge (e.g., experience with disaster recovery from humanitarian, economics perspectives) and experience in risk transfer solutions.
• Explore opportunities to co-design risk transfer solutions for climate disasters in Europe and Africa.
• Learn more about MedEWSa (e.g., climate hazards, specific regions, proposed solutions) and contribute to the development of the project’s risk transfer platform.

Workshop Information

The workshop will take place on 24.6.2025 at the Permanent Representation of the Slovak Republic to the EU, Avenue de Cortenbergh 79, 1000 Brussels. All participants’ IDs will be checked upon arrival.

Due to the hands-on and participative approach of the event, the attendance is limited to 50 spots. Registration will close on the 21 June 2025, 17:00 CEST

Key Topics & Expected Outcomes

• Exploring existing risk transfer mechanisms (successes and challenges).
• Understand catastrophe bonds & insurance mechanisms to close financial protection gaps.
• Integrate Early Warning Systems (EWS) with financial instruments to enable rapid response and recovery.
• Assess economic impacts & insurance affordability in disaster-prone regions.
• Develop actionable strategies for financial resilience and risk-sharing models.

Background: A very brief intro to alternative risk transfer solutions

While EWS focuses on minimising physical harm and protecting lives by enabling preventive actions, insurance policies can help address the financial aftermath, compensating for damage and aiding recovery. Together, these systems complement each other, with EWS reducing potential losses and insurance providing financial support for recovery, creating a more resilient approach to disaster management.

Insurance policies work by assessing the risk of a potential event based on factors such as the probability of occurrence, the vulnerability of the insured party, potential damage, and the actual losses if the event happens. The insurer calculates premiums based on these risk factors, and if the insured experiences a covered event, the policy compensates for the damage or loss.

Traditional insurance, known as indemnity insurance, operates by reimbursing the policyholder for the quantified value of the loss. This often requires a detailed assessment of the event’s financial impact, such as the cost of repairs or replacing assets. While this ensures precise compensation, it can be time-consuming and may delay financial relief when it’s urgently needed, such as after a natural disaster.

In contrast, parametric insurance (or non-indemnity insurance) offers a more streamlined approach, where payouts are predetermined and triggered by specific event thresholds, such as rainfall levels or wind speed, without the need for loss assessments. This allows for faster disbursement of funds, which is especially critical in disaster-prone regions where immediate access to financial resources can significantly impact recovery. Thus, while indemnity insurance provides comprehensive coverage for actual losses, parametric insurance emphasises speed and efficiency in disaster recovery. Parametric insurance offers faster payouts, often within weeks, and greater flexibility in terms and structure, including multi-year contracts.

What is the main goal of the workshop? What are the expected outcomes?

The goal of this workshop is to identify the best risk transfer solutions for different regions and perils (whether they have a precedent or not). Participants of the workshop will acquire a common vocabulary on the subject matter and how to structure risk transfer solutions.

The main outcomes from the workshop include:

• Better understanding of climate adaptation opportunities: Innovative risk transfer solutions like cat bonds align with climate adaptation by enabling proactive financial planning, promoting resilience, and ensuring recovery resources are available in the face of increasing climate-related risks. They not only protect against immediate impacts but also support the systemic changes needed to adapt to a changing climate.
• Risk Management improvement: Participation in discussions about innovative risk transfer solutions could enable better assessment of how financial institutions can protect themselves against climate-related risks, strengthening the resilience of the banking sector. Concretely, catastrophe bonds help ensure that climate related financial risks are diversified across global markets, reducing the risk that banks in affected regions face overwhelming financial strain. From the risk management perspective in climate-vulnerable areas, the workshop would provide insights to help better understand the mitigation potential of regional financial risks and maintain consistent monetary policy transmission across member states.

Better understanding of implications for financial stability: Climate disasters can severely impact economies, disrupting financial markets, insurance sectors, and overall economic stability. Gaining a deeper understanding of how innovative risk transfer mechanisms (such as insurance and reinsurance) can mitigate these economic disruptions is essential for informed policy decisions. The workshop would provide insights into innovative risk transfer solutions, which are becoming critical to reduce the potential for systemic shocks within the financial sector and to minimise the spillover effects that could destabilise banks exposed to such insurers.