Wawanesa to try new resilience funding model
Wawanesa Mutual Insurance Co. is experimenting with a novel approach to fund restoration and resilience efforts in the Wolastoq watershed, also known as the Saint John River. The funding, based on independently measured river levels, will be paid out at the rate of $5.77 plus GST every four weeks. After 52 weeks, the price will increase to $19.95 plus GST every four weeks. This offer is available to both new and returning subscribers, with the option to cancel at any time.
The model aims to provide up to $1 million annually for the next three years to the World Wildlife Fund-Canada (WWF-Canada). The watershed, spanning nearly 700 kilometres from Quebec to the Bay of Fundy, has been a frequent site of flooding for decades, impacting more than half a million people living nearby. Wawanesa and WWF-Canada will assess the program to determine if the funding model should be replicated elsewhere.
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