Munich Climate Insurance Initiative

#COP29 concludes today, and as negotiations progressed to agree on a New Collective Quantified Goal (NCQG) on Climate Finance in the past two weeks, experts from the Philippines, Ghana, and South Africa emphasized the need for accountability from both donor and recipient countries to effectively address challenges in mobilizing climate finance. “It is everyone’s responsibility to take part in ways of improving the systems that can support a full realization of an accountability approach that holds developed countries in delivering their pledges through the right modalities, and our very own governments in utilizing climate finance correctly and equitably,” said Angelo Kairos dela Cruz, Executive Director of the Philippine-based Institute for Climate and Sustainable Cities (ICSC), in a #COP29 side event on November 16. “Unveiling The Money Trail: Climate Finance Accountability Through Local Tracking and Validation” is an official UNFCCC side event led by ICSC at the COP, in collaboration with the Munich Climate Insurance Initiative (MCII), The Climate Reality Project Philippines, African Climate Reality Project, and the Climate Vulnerable Forum (CVF) & Vulnerable Twenty Group (V20), which highlighted climate finance tracking initiatives in the Philippines, Ghana, and South Africa. Read more: https://lnkd.in/g5Pv4FNJ

🌍🌱 Climate Risk Insurance and Resilience in Africa: Insights from COP29 Thanks you the invitation of The African Climate Foundation and Krutham, we had the honor of contributing to the critical conversation on Climate Risk Insurance and Resilience in Africa during the session, "Using Insurance to Manage Climate Risk in Kenya, Malawi, and South Africa." Key Highlights from the Event for those who missed it! Insurance as a Climate Solution: By transferring risk, insurance empowers farmers to recover more quickly from climate shocks, stabilizing rural economies and ensuring food security The Role of Technology: Data-driven solutions, such as satellite monitoring, GPS mapping, and digital platforms can enhance the accuracy and efficiency of climate insurance programs. These innovations ensure timely payouts and strengthen the trust between insurers and farmers Gender Inclusion in Climate Insurance: Women smallholder farmers, who are often most affected by climate risks, stand to benefit significantly from tailored insurance solutions Collaboration is Key: It is importance to partner between governments, development organizations, insurers, and the private sector to achieve the best outcome. The event served as a reminder that climate risk insurance is not just a financial tool—it’s a lifeline for communities on the frontlines of climate change. By sharing lessons and scaling best practices, we can continue to build a resilient future for Africa’s agricultural sector. Thank you to the incredible panelists and attendees for such a rich and impactful discussion. Iva Detelinova Cecilia Schultz Sinja Buri Butch Bacani Amy Barnes Dagmawi Haileyesus Assefa #COP29 #ClimateRiskInsurance #Pula #ResilienceInAgriculture #SustainableDevelopment #SmallholderFarmers #ClimateResilience

Still around at #COP29 in Baku? Join us #today for 2 interesting and interactive sessions during the #PrivateSector Day at the Capacity Building Hub! 📌 Blue Zone, Special Events Room 4, Shirvan, Area B 💡 Protecting Communities and Businesses: Exploring Climate Risk Finance through a Board Game 🕦 11:30 AM – 1:00 PM Learn about climate risk finance and explore different climate change adaptation mechanisms (parametric insurance, contingency funding, and early warning systems) playfully through the board game Hotel Resilience. 💡 The Role of the Private Sector in Protecting Livelihoods and Ecosystems Through Parametric Climate Risk Insurance 🕦 5:15 PM – 6:15 PM Join us for this roundtable discussion and dialogue with our experts Simon Young (WTW), Katherine Cooke MSc (Oxford Policy Management and KRISHNAN NARASIMHAN (United Nations Capital Development Fund (UNCDF) who will highlight innovative approaches to strengthen the resilience of climate-vulnerable communities developed by private insurance industry stakeholders. Drawing from concrete pilot projects, speakers and contributors will outline avenues for improving and scaling up promising solutions and discuss how private and public stakeholders can work together successfully to do so. United Nations University - Institute for Environment and Human Security (UNU-EHS) Munich Climate Insurance Initiative

Still at #COP29? Join us tomorrow, 20th Nov to discover #DisasterRiskManagement and #ClimateInsurance in a fun way - by playing #HotelResilience, a board game on risk management. You will need to manage 🌀 hurricane risk on a tropical island thats depending on tourism 🏝️. 🎲 Let's play: 11:30 am at the Capacity-Building Hub in Special Event Room 4 - Shirvan, Area B. Join us at 17.15 in the same room to discover how the #PrivateSector and #Insurance can work for and with #Ecosystems and #NbS 🌿

ARC Ltd. CEO, Lindelwe Lesley Ndlovu, has participated in a crucial discussion at #COP29 on the vital role of climate insurance in mitigating risks and building resilience against extreme weather events. The panel, part of World Green Economy Organization (WGEO)'s event on Sustainable Finance, explored innovative insurance models, including parametric solutions, and how to tailor products to the needs of vulnerable communities. Key takeaways included the need for better risk assessment, increased access to insurance, and strong public-private partnerships. #COP29 #WGEO #ClimateAction #DisasterRiskFinancing Eva Grace Kavuma Malvern C. Ange Nothando Chitate Anaïs SYMENOUH Yusuf Bodiat Gloria Womitso Avinash Ramessur Eleanor Kigen

Week 2 of #COP29 is off to a strong start! 🚀💡 Today, our experts focused on: 💡 Innovation & capacity-building 🤖Frontier tech 🌆 Cities 🏚️ Loss & Damage 🎥 Watch the recap! 👥 At COP? Join us: https://lnkd.in/e-DCkrYg 🏡 #COPfromHome? Follow #UNUatCOP29 for more updates!

🌊 Join Us at COP29 tomorrow for our event: Building Resilience through Innovative Anticipatory Action Solutions in the Pacific 🌊 🗓️ November 19th, 2024 | 🕑 2:00 – 2:50 PM Small Island Developing States in the Pacific are on the frontline of climate-induced disasters, with traditional response systems often falling short. In this session, join experts in the field: Leba Gaunavinaka, Mary Friel and Astrid Zwick as they highlight how anticipatory action combined with innovative climate and disaster risk finance solutions can transform resilience-building efforts for the region’s most vulnerable populations. International Federation of Red Cross and Red Crescent Societies - IFRC Global Shield against Climate Risks #COP29 #AnticipatoryAction

At the South African Pavilion at COP29 Azerbaijan, I had the pleasure of providing a keynote presentation on how the UN Environment Programme is working with the global insurance industry and key stakeholders in building resilient communities and supporting a just transition to a net-zero and nature-positive economy. The session discussed the main findings of the upcoming report by the The African Climate Foundation and Krutham on how #climateriskinsurance can be scaled up to enhance resilience in Africa, with a focus on Kenya, Malawi and South Africa. In 2023, climate-related disasters in Africa led to USD 14.7 billion in economic losses, with insurance covering only one-fifth of the total. At the same time, annual funding meets only 11% of Africa’s adaptation needs. It was a wide-ranging discussion that highlighted various roles that the insurance industry can play in helping build resilient communities and economies as risk managers, insurers and investors. We discussed key factors to help make insurance solutions at the micro, meso and macro levels in Africa — from #smallholderfarmers and #MSMEs, to #cooperatives, #cities and #countries — accessible, affordable, scalable and sustainable. We also touched on the opportunity for insurers to use their investments to finance adaptation projects and climate-resilient infrastructure. Many thanks to Cecilia Schultz (Krutham) for sharing the key findings of the upcoming report and to Iva Detelinova (The African Climate Foundation) for seamlessly moderating a diverse panel. It was brilliant to hear the insightful and practical views of my fellow panellists: Amy Barnes (Marsh McLennan), Sinja Buri (Munich Climate Insurance Initiative), and Dagmawi Haileyesus Assefa (PULA).  Looking forward to the formal launch of the report in the coming weeks. United Nations Environment Programme Finance Initiative (UNEP FI) The Nairobi Declaration on Sustainable Insurance #SustainableInsurance #NetZeroInsurance #InsuranceForNaturePositive #InclusiveInsurance

Join us today to hear about the experience of the #MultiActorPartnership on Disaster Risk Finance in #Senegal led by Enda Energie on successfully cooperating with the Global Shield against Climate Risks during the In-County Process. Meaningful (!) engagement of local civil society organisations in national and international processes are crucial as they are often closest to the vulnerable people which the CDRFI solutions aim to protect. Munich Climate Insurance Initiative CARE Deutschland e.V. CARE SLYCAN Trust Civil Society Network on Climate Change (CISONECC) CARE Madagascar Germanwatch e.V. SAF/FJKM CARE Malawi CARE Bangladesh Institute for Climate and Sustainable Cities

If you are at COP29, please join us at the Namibia Pavilion (H3) from 10-11 am for this exciting Book Launch together with the Climate Vulnerable Forum (CVF) & Vulnerable Twenty Group (V20) ! The book, From Crisis to Action: Climate Change Through the Eyes of the Most Vulnerable, tells personal stories and practical solutions from farmers, pastoralists, indigenous leaders, youth, experts working in research institutions, goverment representatives, and people working from various UN agencies. With over 30 contributors and highlights from more than 60 countries around the world, the message is clear, the climate has already changed and nobody is spared but we must not lose HOPE. Because hope fuels ACTION and our world desperately needs it. #fromcrisistoaction #climateadaptation #netzero #climatefinance #climateprosperityplan #climatechange #nobodyisspared #climateimpact #vulnerablecommunities #cvfv20