Pioneering parametric structure could unlock up to $3 million over three years to sustain nature-based restoration
WINNIPEG, Manitoba, Nov. 09, 2026 (GLOBE NEWSWIRE) -- Wawanesa and WWF-Canada today announced an innovative financing model designed to deliver rapid funding to safeguard nature-based restoration across the Wolastoq (Saint John River) watershed. The first arrangement of its kind in Canada, the model applies parametric financing to the charitable sector, reimagining how climate resilience investments are protected and sustained over time.
Under the arrangement, Wawanesa funding is triggered by independently measured river levels. If predetermined river conditions are met, Wawanesa would provide up to $1 million in funding each year, to a maximum of $3 million over three years, to WWF-Canada.
The innovation is simple: protect the continuity of restoration already underway. By providing a reliable source of funding if river levels rise to a predetermined level, the arrangement would help preserve years of progress, local partnerships and investment in the watershed. The funding could support post-event assessment and monitoring, targeted remediation, mobilization of local partners, and continued restoration work, helping bridge the critical period following a significant high-water event and the arrival of conventional charitable or public funding.
Over the past three years, Wawanesa has invested more than $1 million with WWF-Canada in the Wolastoq watershed through its Climate Champions program. WWF-Canada and local partners are restoring floodplains, stabilizing riverbanks and planting native trees and shrubs – work that helps natural systems slow and absorb floodwater while creating long-term resilience benefits for communities throughout the watershed.
“Resilience means investing before disaster strikes – and making sure that work can continue after it does,” said James Bond, SVP, Chief Legal & Strategy Officer of Wawanesa. “This innovative approach brings financial innovation and community investment together to help sustain restoration and resilience efforts already underway across the Wolastoq watershed. It is a practical example of how insurers can help communities support long-term resilience and reduce risk over time.”
The Wolastoq watershed stretches nearly 700 kilometres from Quebec to the Bay of Fundy and home to more than half a million people and has experienced repeated major floods and high-water events over the past decades. The initiative will support WWF-Canada and local partners in assessing impacts and responding more quickly to flood events, helping protect years of restoration investment from climate-related setbacks.
"The restoration of a 230-metre section of the Rivière-à-la-Truite near Edmundston is one example of how local partners are building resilience through nature-based solutions," Alex Portman, Head of Corporate Partnerships at WWF-Canada, said. "Because this work takes years to deliver results, major floods can put hard-won progress at risk. This innovative partnership could help local organizations quickly access funding when it's needed most, safeguarding restoration investments and keeping projects moving forward."
Wawanesa and WWF-Canada see the partnership as a potential model for how finance and risk-transfer tools can complement investment in climate adaptation and resilience, supporting not only recovery after disruptive events but also the long-term resilience benefits created through nature-based solutions. While the immediate focus is the Wolastoq watershed, the partners will evaluate what can be learned from the initiative and whether similar approaches could support resilience and restoration work elsewhere in Canada.
“This model shows how risk-transfer expertise can provide greater speed and certainty for local climate resilience projects,” said Mitchell McEwen, Director, Sustainability, Climate Resilience & Community Impact at Wawanesa. “Wawanesa can play an orchestrating role – bringing together the right partners and expertise to explore how similar approaches could address different climate perils and geographies across Canada.”
The initiative is part of Wawanesa Climate Champions, Wawanesa’s signature community impact program. Wawanesa invests $2.5 million annually through the program to support people and organizations advancing climate resilience in communities across Canada
The parametric arrangement was developed with support from Munich Re Canada, and climate-peril expertise from Marsh Re, Ltd.
About The Wawanesa Mutual Insurance Company
Founded in 1896, The Wawanesa Mutual Insurance Company is one of Canada’s largest mutual insurers, fully owned by its more than 1.8 million members. Headquartered in Winnipeg, Wawanesa is the parent company of WSI™, a specialty insurer delivering tailored solutions built around unique needs; Wawanesa Life, a provider of life insurance products; and Western Financial Group, a leading national distributor of personal and commercial insurance.
Wawanesa is committed to helping communities thrive in a changing world. The company invests more than $4 million annually in charitable initiatives, including $2.5 million each year to support people and communities on the front lines of climate change. Learn more at wawanesa.com.
About World Wildlife Fund Canada
WWF-Canada is committed to equitable and effective conservation actions that restore nature, reverse wildlife loss and fight climate change. We draw on scientific analysis and Indigenous guidance to ensure all our efforts connect to a single goal: a future where wildlife, nature and people thrive. For more information, visit wwf.ca.
For more information:
Michel Rosset
Manager, Corporate Communications & Media Relations
The Wawanesa Mutual Insurance Company
media@wawanesa.com
Emily Vandermeer
Senior Specialist Media Relations
WWF-Canada
media@wwfcanada.org
