MCII priorities featured high in summit’s outcome statement
The Global Platform on Disaster Risk Reduction held from 23rd to 28th of May concluded with the Bali Agenda for Resilience. In terms of overall messaging the summit’s outcome calls for transformation of risk governance, dedicated risk financing strategies and a participatory and human rights based approach in disaster risk planning and implementation. Decision makers at the Global Platform observe that climate is at the stage of crisis, with current emission levels far exceed the necessary mitigation and threatening the achievement of the 2030 Agenda.
In terms of detailed messaging the co-chair summary provides strong signals for MCII’s policy engagement. For the first time in a UN process an outcome document recognizes the challenges to narrow the protection gap and to make insurance solutions affordable through premium and capital support. It also speaks to the need to connect to anticipatory humanitarian action and scaled social protection systems that are adaptive (Adaptive Social Protection). In addition it recognizes special challenges for debt-burdened developing countries and the need multidimensional vulnerability indices to target funding. This is a long-standing ask by the V20 Group of Finance Ministers, which MCII supported through technical analysis and support.
The Global Platform 2022 took place 7 years after the adoption of the Sendai Framework, and approaching the halfway point of the Sustainable Development Goals 2015-2030. Progress has been patchy and global trends in poverty reduction and hunger eradication have been reversed due to COVID19 and other global crisis. The Bali Agenda for Resilience feeds into a broader mid-term review progress of the Sendai Framework and the Sustainable Development Goals. It provides an input into the Climate Summit COP 27 at the end of the year, were climate finance, loss and damage of residual climate risks and the global goal on adaptation will be on the agenda.
MCII will continue to advocate and support the implementation of insurance solutions and disaster risk financing strategies at large. The general acknowledgement of insurance premium support principles has been a break-through. MCII will continue to advocate for a political recognition within the G7, the G20 and COP 27. It will also accelerate its concrete operationalization with the V20 Finance minister group.
Global Platform – Co Chair Summary