Innovative proposal on how to strengthen the resilience of smallholder farmers wins „Absorbing Climate Impacts“ contest
Last week the winners of the “Absorbing Climate Impacts” contest were announced. In total, 72 proposals were submitted, ten of which were shortlisted by the jury, consisting of seven international experts in the field of climate risk insurance and social protection. The judges assessed the proposals according to feasibility, impact, novelty and presentation quality.
The Judges’ Choice Winner was a proposal by ClimateRe, a Swiss consultancy specialised in the development of innovative risk management approaches in vulnerable communities. Their proposal envisages to enhance climate resilience of smallholder rice farmers in Nepal by coupling crop insurance to value chain development and climate change adaptation. The Judges‘ Choice Winner will receive seed funding for implementation of the proposal (worth 40,000 euros) and mentoring, training and technical assistance (worth 12,000 euros).
In addition to the judges, the general public was allowed to vote for their favourite proposals. The winner of the Popular Choice vote was a proposal by the Mahila Housing Sewa Trust, an association that aims to empower women in poor communities in India to upgrade their habitat. Their proposal seeks to tap women’s habit of saving to manage climate-induced risks through an innovate chit fund cum microinsurance scheme. The Popular Vote Winner will be given the opportunity to present their proposal at the 2nd InsuResilience Global Partnership Forum that will take place on 10th December during COP24 in Katowice, Poland.
The contest was launched by the UN Climate Resilience Initiative A2R and the InsuResilience Global Partnership in collaboration with the MIT Climate CoLab. It sought new, innovative ideas and solutions that link climate risk insurance with other forms of social protection to enhance the ability of vulnerable communities to better absorb climate change impacts.