Soteria fosters dynamic partnerships to address climate risks head-on in the vibrant Valencian Region of Spain. Led by the Regional Ministry for the Environment, Water, Planning, and Housing of the Valencian Community, and supported by Aquatec, the Basque Centre for Climate Change (BC3), and Icatalist, our initiative engages diverse stakeholders. These include municipalities, farming communities, cooperatives, irrigation communities, and industrial associations. This collective effort ensures a comprehensive approach to climate resilience across urban, agricultural, and forest interface areas.

The most prominent climate hazards in the Valencian Region range from stormwater and floods to droughts, heatwaves, wind, marine storm surges, and wildfires. Through our project, we aim to develop innovative solutions to mitigate these risks and enhance the region’s resilience. By leveraging Nature-Based Solutions (NBS), mutualised approaches, and public infrastructure enhancements, we strive to build adaptive capacity and minimise the impact of climate-related events on communities and ecosystems.

Our pilot initiatives in the Valencia Region encompass testing various innovative solutions tailored to local needs. These include exploring public-private collaborations, financial mechanisms, and public procurement strategies to bridge the insurance gap and enhance climate resilience.

Promoting Climate Change Adaptation (CCA) by exploring additional and new financial avenues for the conservation and restoration of coastal wetlands is central to our efforts. Also, we aim to encourage proactive risk management and sustainable land use practices by incentivising CCA practices and proposing new criteria in farming and land agricultural insurance. Furthermore, developing NBS spatialised investment maps and regional data hubs facilitates informed decision-making and targeted investments in risk reduction measures.

To assess the impact of our initiatives, we have established clear Key Performance Indicators (KPIs). These include testing innovative insurance solutions, analysing the insurance gap, conceptual design of climate risk insurance products, proposing new criteria in agricultural insurance, and developing spatialised investment maps and regional data hubs. These KPIs serve as critical metrics to measure the success of our efforts in enhancing climate resilience in the Valencian Region of Spain.