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Where gunboats meet the stock-market!

May 1, 2023

May 1, 2023

This commentary in the illuminem is based on my paper – ‘How marine insurance causes damage with insurers aiding and abetting it’. Presented at the recently held European Geosciences Union (EGU)23. Dr. David Crookall, renowned geoscientist, is a Climate change evangelist par excellence. He suggested that I too consider making a presentation. And I thought this theme would surely not fit the bill. David, however, got back promptly saying I should register!

Needless to mention, ‘Climate change (CC) & ocean degradation (OD) are among the greatest threats to humanity. Climate impacts the ocean in massive ways; the ocean is the climate’s most powerful regulator’. Insurers – marine and land-based assets – affect ocean health in multifarious ways. I picked a few.

An evening prior to the presentation, I found myself listening to an absorbing talk by Prof. Damon Silvers. ‘Where gunboats meet the stock-market’ alluded Damon, in context of neo-liberalism! It turned out to be an apt metaphor for colonising oceans, messing up their well-being which in turn comes back to haunt us. A perfect convergence point where insurers do their bit to facilitate neo-liberalism!

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