MCII Contribution to the G7 Initiative on Climate Risk Insurance

Project Overview

There is increasing recognition among the international community of the need for urgent and concrete action in mitigating climate change and addressing its impacts by effectively supporting particularly vulnerable countries’ own efforts to manage climate change induced disaster risk. Well-designed climate risk insurance – when applied in conjunction with other disaster risk management measures and strategies – can protect people against climate shocks by acting as a safety net and buffer shortly after an extreme weather event. The year 2015 saw a major shift in political narratives about how climate-change-related risks are addressed moving away from an attitude of coping with impacts (ex-post) to that of effectively managing risks before they occur (ex-ante). Climate risk insurance is anchored in the Sendai Framework for Disaster Risk Reduction, Article 8 of the Paris Agreement, and the Work Plan of the Executive Committee of the Warsaw International Mechanism for Loss and Damage.

By initiating a Climate Risk Insurance Initiative (InsuResilience) the G7 countries acknowledged the central role insurance plays in a comprehensive climate risk management approach. InsuResilience aims to increase the number of poor and vulnerable people in vulnerable developing countries who have access to direct or indirect insurance coverage against the negative impact of climate change-related hazards by up to 400 million by 2020.

Under the overall guidance of the German Federal Ministry for Development and Economic Cooperation (BMZ) and in cooperation with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), MCII contributes to InsuResilience by providing strategic and technical advice to BMZ & and the InsuResilience Secretariat, facilitating dialogue among G7 stakeholders, including private sector, civil society and target countries, and undertaking research on the nexus between resilience, insurance and risk reduction.

Latest News

InsuResilience Global Partnership Seen as Key Collaboration Between V20 and G20 Countries Opens internal link in current windowRead more


New Paper published: Climate Risk Insurance: Transparency, Participation and Accountability Opens internal link in current windowRead more


G7 continue their work on CRI under Canadian Presidency Opens internal link in current windowRead more


New Paper published: Impact Evaluation of Climate Risk Insurance Approaches Opens internal link in current windowRead more


01 December 2017: Webinar on Innovations in Measuring the Climate Resilience Impacts of Insurance. Find out more Opens internal link in current windowhere


4 July 2017, MCII Workshop: Climate Risk Insurance: Opportunities, Challenges and Framework Conditions.

Read the workshop report, Initiates file downloadhere


German State Secretary Kitschelt calls for global partnership for climate risk insurance at Petersberg Dialogue, expansion of InsuResilience Opens external link in new windowRead more


MCII launches latest research results on how to implement the Pro-Poor focus of InsuResilience at COP-22 in Marrakech Opens internal link in current windowread more


 

Visit the InsuResilience website, Opens external link in new windowhere