2007'02.01.Thu
Swiss Re Awards USD180 000 for Sustainable Watershed Management Projects in the Philippines, Cameroon and Bolivia

March 22, 2006

MANILA, Philippines, March 22 /Xinhua-PRNewswire/ -- A Philippine non-government organization has won the USD80,0000 top prize in the annual Swiss Re-sponsored International ReSource Award for Sustainable Watershed Management. The winning project, from Resources, Environment and Economics Center for Studies, Inc. (REECS), uses innovative ways to involve local communities in protecting water resources. Projects in Cameroon and Bolivia won the runner-up prizes worth USD50,000 each from Swiss Re, one of the world's leading reinsurers. Through the Award, Swiss Re supports inventive and diverse community engagements from around the world which preserve and nurture water sources. Ivo Menzinger, Head of Group Sustainability Management at Swiss Re and Chairman of the International ReSource Award Jury, commented, "Swiss Re witnesses that a majority of natural disasters are water-related events, and they are on the increase. Poor land use exacerbates this trend and it is our goal as a leading global risk manager and reinsurer of such catastrophic events to support and reward inventive and diverse community engagements from around the world in preserving and nurturing our water sources." Swiss Re established the International ReSource Award in 2002 to support initiatives that seek to contribute to raising awareness of ecological, social and economic significance of water sources and watersheds, especially in developing countries. Winner: Payments for Environmental Services in the Philippine Uplands This year's winning project comes from the Philippines and focuses on sustainable watershed management and poverty alleviation in the Philippine Uplands. The project is based on a "Payments for environmental services (PES)" system, compensating the local Ikalahan people for their upstream activities to the benefit of the downstream communities such as domestic water users, farmers and tourists. The project foresees training support on sustainable upland farming practices and puts strong emphasis on a series of practical dialogues among providers, beneficiaries and intermediaries. The winning project was submitted by Resources, Environment and Economics Center for Studies, Inc. (REECS), Quezon City, Philippines. Runners-up: Water conflict mitigation in Cameroon; Bolivian highlands support For the first time a project from Africa is also receiving support from Swiss Re. The Ntunir watershed project in the Jakiri Council municipality in Cameroon's North West Province, spreading over 700 hectares of moorland, will receive USD50,000. Submitted by KivenK development, a local NGO, the project mitigates conflict among people of different cultures who are either concerned about protecting the catchments for quantitative and qualitative water supplies; or grazers who need the catchment areas for fresh grass to browse their animals. An equal runner-up prize of USD50,000 was granted to a project in the Suches River basin, in the Bolivian highlands. This proposal aims to establish best practices in water management along the full length of the Suches River, from Alpaca grazing grounds at 4,800 meters to the shores of Lake Titicaca. The project is unique in its mix of traditional farming techniques, culture and modern approach to sustainable use of natural resources. It was submitted by Grupo de Voluntariado Civil (GVC), La Paz, Bolivia. The International ReSource Award Launched in 2002, the ReSource Award is an internationally recognised prize for leadership in implementing the principles of sustainability in watershed management. It is conferred annually. As one of the world's leading reinsurers, Swiss Re is committed to supporting the planning, evaluation and implementation of water-related projects with the aim of promoting awareness and encouraging the efficient use of this precious resource. Notes to editors Swiss Re Swiss Re is one of the world's leading reinsurers and the world's largest life and health reinsurer. The company operates through more than 70 offices in over 30 countries. Swiss Re has been in the reinsurance business since its foundation in Zurich, Switzerland, in 1863. Swiss Re offers a wide variety of products to manage capital and risk. Traditional reinsurance products, including a broad range of property and casualty as well as life and health covers and related services, are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Re currently has the following ratings: (i) from Standard & Poor's: long-term counterparty credit, financial strength and senior unsecured debt ratings of "AA (CreditWatch negative)", and a short-term counterparty credit rating of "A-1+", (ii) from Moody's: insurance financial strength and senior debt ratings of "Aa2" (on review for possible downgrade), and a short-term rating of "P-1" and (iii) from A.M. Best: a financial strength rating of A+ (superior) (under review with negative implications). Swiss Re has been associated with Asia since 1913, and now has more than 900 staff in Asia Pacific. The company's Asian headquarters are in Hong Kong. In 2006 Swiss Re celebrates 50 years since it opened its first offices in Asia Pacific. For more information, please contact: Eileen Lim Corporate Communications, Asia Tel: +852-2582-3610 Web: http://www.swissre.com SOURCE Swiss Re
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