InsuResilience Global Partnership Announced Vision 2025 at UN Climate Action Summit

InsuResilience Global Partnership Announced Vision 2025 at UN Climate Action Summit

On Sept 23, 2019, the InsuResilience Global Partnership (IGP) announced its Vision 2025 and work plan at the UN Climate Action Summit in New York. In the communiqué, IGP committed to enhancing climate and disaster risk finance and insurance (CDFRI) as a solution to close the protection gap and emphasize the urgency of scaling up and accelerating risk financing in 2019 and beyond. In its Vision 2025 and Workplan, IGP dedicated to achieving ten goals, including: 500 million poor and vulnerable people covered against disaster and climate shocks by pre-arranged risk finance and insurance mechanisms; 150 million people covered by microinsurance; and US$ 5 billion of risk capital offered by the insurance industry to provide the necessary risk capacity, etc. To read the full communiqué, please CLICK HERE.

The InsuResilience Global Partnership for Climate and Disaster Risk Finance and Insurance Solutions was officially launched at the 2017 UN Climate Conference in Germany. More than 65 members have joined the Partnership since its launch. IGP aims to strengthen the resilience of developing countries and protect the lives and livelihoods of poor and vulnerable people against the impacts of disasters.

A tripartite agreement was signed between BMZ (GIIF Program Donor), UNDP and IDF to strengthen collaborations in line with the goals of InsuResilience Global Partnership

On Sept 22, 2019, on the eve of the UN Climate Action Summit, the United Nations Development Program (UNDP), the German Federal Ministry for Economic Cooperation and Development (BMZ), the U.K. Department for International Development (DfID), and the Insurance Development Forum (IDF) announced a series of coordinated commitments aimed at increasing climate risk resilience for the most vulnerable countries by providing technical assistance and risk solutions.  USD 5 billion insurance capacity was offered to 20 developing countries, prioritized by their vulnerability to climate risks and readiness to accelerate the integration to increase resilience. Read more

UN Climate Action Summit to deliver new actions to tackle climate risks

On Sept 23, 2019, the UN Climate Summit recognized that under a changing environment, traditional ways of life have shifted dramatically. To build a resilient future, the World Bank, the Governments of Norway, Germany, the Netherlands, the United Kingdom, and the Gates Foundation, announced a plan to enhance resilience for 300 million small-scale farmers to fight climate shocks and extreme events, increase household incomes and sustain food production, and strengthen resilience to ecological decline. Read more.

The Global Index Insurance Facility (GIIF) receives support from InsuResilience Global Partnership (IGP) through its donor BMZ.