MCII at COP24
Implementing Integrated Climate Risk Management approaches: A look through the Climate Risk Insurance lens (3 Dec, 13:15-14:15, Pacific & Koronivia Pavilion)

3 Dec, 13:15-14:15 | Pacific & Koronivia Pavilion

Background

According to the World Meteorological Organization (WMO), 2014, 2015, 2016 and 2017 were the four hottest years on record since 1880. Approaches to managing disasters has evolved since the impact of Hurricane Mitch hit Central America in 1998. The aftermath of the event resulted in major donors meeting with the Central American presidents to work out a recovery approach that would simultaneously build resilience to extreme weather event. Subsequent, disasters such as Mozambique floods in 2000, Typhoon Haiyan in 2013 and the 2017 Hurricanes in the Caribbean, further reinforced the need for integrated approaches through collective actions.

Recognizing that new tool are urgently needed to help vulnerable people to deal with the risks and impacts of climate change, the international policy agenda called for comprehensive approaches and innovative financial instruments. In 2015, the  Paris Agreement, the Sendai Framework for Disaster Risk Reduction and the 2030 Agenda for Sustainable Development highlighted risk transfer such as insurance solutions as important to manage climate risks. In the same year the G7 launched the InsuResilience Initiative and committed to cover additional 400 million people through climate insurance approaches by 2020. In 2017, the G20 endorsed an action plan to create a Global Partnership for climate risk finance and insurance solutions.

There is a clear momentum within the international community to explore new ways of combining different risk management approaches, ranging from risk assessment and risk reduction to risk transfer solutions to manage the growing risks of climate change. However, insurance is not a stand-alone approach, and needs to be embedded in the broader adaptation and disaster risk management plans of vulnerable countries.

The Munich Climate Insurance Initiative (MCII) in partnership with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH will host a side event on “Implementing Integrated Climate Risk Management Approaches: A look through Climate Risk Insurance lens”.  The side event is organized as part of the project “Promoting Integrated Mechanisms for Climate Risk Management and Transfer” funded by the Federal Minister for the Environment, Nature Conservation, and Nuclear Safety (BMU).

Objectives

  • Sharing country experiences from Barbados, Fiji, and Morocco on how insurance-related approaches are being implemented in partnership with private sector actors, and highlight how they contribute to a comprehensive integrated climate risk management approach.
  • Provide insight into current risk transfer efforts that engage the private sector in providing financial protection to support vulnerable countries and/or low-income communities facing the impact of climate change.
  • Showcase how Integrated Climate Risk Management approach has the potential to bridge between different government entities by offering synergies in their agendas.

Expected Outcomes

The discussion emerging from this side event should stimulate a dialogue around the added value of integrating risk transfer and disaster risk management approaches and the applicability of this integrated approach in other countries. It will further raise awareness and build knowledge about the importance of multi-stakeholder cooperation, including the public and private sector, civil society and development organisations.

Agenda / Panel

  • Integrated Climate Risk Management (ICRM): Concept and speakers introduction
    Ms. Kehinde Balogun (MCII)
  • Advancing Climate Risk Insurance: Moving beyond the Agricultural Sector
    Mr. Soenke Kreft (MCII)
  • Making SMEs part of the solution: Discussing the role of Climate Risk Insurance in averting Climate Change impacts in an industrial zone in Morocco
    Mr. Abderrahman Amor, (Réseau Enterprise Climate (REC),  Morocco)
  • A safer and more resilient Ghana: Mainstreaming risk insurance into national development planning
    Mrs. Charlotte Norman (National Disaster Management Organisation, Ghana)
  • Podium Discussion and Q&A with the audience

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The Million Farmer Network: Bringing Climate Insurance to Vulnerable Farmers (6 Dec, 13:30-14:30, German Pavilion)

Background

This session highlights the challenges faced by small farms, lessons learned from Climate Risk Insurance activities and the role that large farmers’ networks, such as Fairtrade could play in overcoming the obstacles faced in scaling insurance to date.

Speakers and Moderation

Lannette Chiti
Fairtrade International
Germany

Dr. Maxime Souvignet
Munich Climate Insurance Initiative
Germany

Sönke Kreft
Munich Climate Insurance Initiative

Luis Mendoza
Fairtrade Small Producer Organization

Jennifer Phillips
United Nations University
Germany

Time and Location

6 Dec, 13:30-14:30, German Pavilion


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Climate Change Adaptation and Risk Management in a Multi-Level Governance Context (9 Dec, 15:00-16:30, Room 5)

Background

Multi-level governance refers to the mechanisms of steering, involving increasing connectivity between spheres of governance. It recognises the influence of government institutions operating at different scales, as well as diversification of actors. When talking about multi-level governance, supranational, national, subnational and local levels of government are seen to be interconnected, with political developments at one level impacting the other levels. In this regard, climate governance can be characterised as a multi-level governance process, since it shares the responsibility for action between government levels, as well as across multiple actors from different sectors.

The Paris Agreement and its accompanying decisions acknowledge the importance of involving all levels of government, as well as other non-State actors for its implementation. It further confirms that adaptation is a global challenge faced by all with local, subnational, national, regional and international dimensions. In addition, the IPCC 1.5 Special Report recognised that addressing climate change requires ‘accountable multilevel governance’ including a variety of state and non-state actors and institutions from the government, industry, civil society and scientific institutions. In this regard, and in order to develop and implement effective adaptation strategies, all levels of government need to be involved in the process.

In addition, climate adaptation action by regional and local governments is key in promoting resilience to the impacts of climate change, helping to reduce weather- and climate-related vulnerability in urban and rural areas. However, coordination among different levels of government is a complex process which can be challenging to address.

This side event will therefore discuss the topics of climate change adaptation and disaster risk financing as a multi-level governance challenge. Organised by Regions4 Sustainable Development, in collaboration with the Basque Centre for Climate Change (BC3) and the Munich Climate Insurance Initiative (MCII), it will highlight good practices and experiences from different levels of government. It will further reveal common challenges and provide recommendations for policymakers that could guide the development and implementation of national, regional and local adaptation plans and strategies.

Agenda

15:00 – 15:05 Welcome and introduction to the session

15:10 – 15:20 Keynote speech:

Mr Jean Lemire, Envoy for Climate Change, Québec, Canada

15:20 – 16:00 Panel: Adaptation and disaster risk financing in a multi-level governance context

·  Presentation of report on adaptation in a multi-level governance context Ms Elisa Sainz de Murieta, Postdoctoral Researcher, BC3

·  The Basque Country perspective

Ms Elena Moreno, Deputy Minister of Environment, Basque Country, Spain

·  LatAm regional government representative (tbd)

·  Vertical integration in the context of the NAP Process

Ms Angie Dazé, Associate, Resilience and Climate Change Adaptation, IISD

·  Disaster Risk Financing

Ms Jennifer Phillips, Munich Climate Insurance Initiative, MCII

16:00 – 16:20 Q&A with audience

16:20 – 16:30 Closing remarks

Moderator:

Mr Iñaki Susaeta, Secretary-General Regions4

or

Ms Sara Kupka, Policy Officer Climate Change, Regions4 

Time and Location

9 Dec, 15:00-16:30, Room 5


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Decision for Action: Perspectives on implementing evidence-based climate finance (11 Dec, 10:30-12:00, EU Pavilion)

Background

The report of the Global Commission on Adaptation highlights the need for new approaches in understanding risk, planning adaptation, as well as financing resilience strategies.

Bringing together public officials, academia, development actors, and the private sector, this session will discuss how to implement climate resilience strategies, financing disaster risk through adaptation, retention and transfer.

The session will (1) highlight the centrality of risk understanding in ensuring that climate risk finance is successful, pro-poor and inclusive, (2) it will discuss best practices from the field (e.g. CRAIC project), (3) identify challenges for risk transfer and adaptation finance, (4) showcase innovative uses of catastrophe risk models (ETH Zurich), (5) collate experience from the private sector in financing climate resilience, (6) offer testimonials from countries representatives and development agencies (7), and evidence how to unlock access to climate finance.

Time and Location

Dec 11, 2019 | 10:30-12:00 | EU Pavilion, Room Helsinki


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