This report compiles all major events, announcements and achievements related to the InsuResilience Global Partnership that took place during COP 27 in Egypt. The InsuResilience Secretariat co-organised seven events with a focus on Climate...
This report compiles all major events, announcements and achievements related to the InsuResilience Global Partnership that took place during COP 27 in Egypt. The InsuResilience Secretariat co-organised seven events with a focus on Climate and Disaster Risk Finance, vulnerability to climate change and many more in Sharm-El-Sheikh. We welcomed two new members to the partnership: The Systematic Observations Financing Facility (SOFF) and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
There is growing interest in proactive, risk-informed humanitarian action to provide more timely, efficient and dignified assistance to communities at risk of crises. Calls to scale up such approaches have emphasised the inadequacy of the...
There is growing interest in proactive, risk-informed humanitarian action to provide more timely, efficient and dignified assistance to communities at risk of crises. Calls to scale up such approaches have emphasised the inadequacy of the current levels of funding for anticipatory action and pre-arranged crisis finance and the importance of setting targets against which to measure progress. Yet, there remains significant variation amongst such targets, and in terms of what constitutes a realistic ambition.
We need to reassess within the crises that receive international assistance, what opportunities are available to put in place plans, financing, and where possible implement mitigation actions ahead of the events themselves. The challenge for the humanitarian community is to harness existing science and technology to allow us predict and prepare ahead of escalating crisis risks, whilst also retaining the capacities to respond to highly complex, interconnected and/or unprecedented events. This paper intends to provide a clearer framework for understanding what can be anticipated, and to what degree. The analysis in this report shows that there are significant avenues within the humanitarian caseload to take advantage of the existing operational risk information systems as well as the wider potential for crisis risks not yet served by current operational systems. Additionally, the report recognises that there are limits to the degree that crises can be predicted and funding can be pre-arranged. This reinforces the need for anticipatory action and disaster risk financing measures to be complemented by other response mechanisms during and after a crisis situation and for responses to be tailored to individual crises and contexts.
Content Type: Reports / Studies Topic / Theme: Forecast-Based Financing, Risk Finance Year: 2022 Author: E. Montier, L. Weingärtner and S. Klassen Pages: 44 Language: English, French, Spanish Organization: ODI, Start Network
The video presents the Climate Risk Early Warning System initiative, a coalition of countries and international organizations specialized in weather and risk prevention.
The video presents the Climate Risk Early Warning System initiative, a coalition of countries and international organizations specialized in weather and risk prevention.
Content Type: Video Topic / Theme: Forecast-Based Financing, Risk Data & Information, Technology & Innovation Solutions / Instruments: Early Warning Region: Global Year: 2015 Organization: CREWS
The Latin America and Caribbean (LAC) region is exposed to different shocks threatening communities’ livelihoods and food security. Building the resilience of the most vulnerable and food insecure is a priority for the World Food...
The Latin America and Caribbean (LAC) region is exposed to different shocks threatening communities’ livelihoods and food security. Building the resilience of the most vulnerable and food insecure is a priority for the World Food Programme (WFP), with risk financing playing an important role. WFP LAC has adopted a Risk Financing Strategy to enable incorporation of inclusive risk finance into sustainable and scalable policies, programmes and partnerships through innovative approaches. Inspired by this regional strategy, WFP Guatemala is currently adopting a layered approach where the complementarity between microinsurance, forecast-based financing (FbF), and macro and meso risk financing tools is at the core.
Content Type: Case studies Topic / Theme: Agriculture, Capacity Building, Climate & Disaster Risk Management, Forecast-Based Financing, Risk Data & Information Solutions / Instruments: Contingent Credit, Creation of DRF Strategy, Microinsurance Businesses, Microinsurance Households, Sovereign Risk Transfer Region: Latin America & Caribbean Year: 2021 Organization: WFP
“The Development Impact of Risk Analytics” is a cross-sector report bringing together risk expertise from more than 30 organisations across private sector, development agencies and specialists, academia and international NGOs....
“The Development Impact of Risk Analytics” is a cross-sector report bringing together risk expertise from more than 30 organisations across private sector, development agencies and specialists, academia and international NGOs. The paper demonstrates how the adoption of open risk modelling principles and frameworks can help countries and cities integrate invaluable local knowledge with global research, and most importantly develop their own view of risk for strategic risk management and operational risk finance.
The report assesses the powerful contribution of risk quantification in the context of the 17 UN Sustainable Development Goals (SDGs), and how the use of open risk analytics principles and platforms can overcome cost and other barriers to access, while increasing confidence in the analysis. This empowering capability is critical as vulnerable economies seek to build social, environmental and financial resilience in the face of increased climate risk, pandemic and other threats.
Specific country case studies build the case for local empowerment through building national and city risk functions. A deeply evidence driven chapter describes the distinct experience of women and girls in disasters, and how gender considerations can – and must – be integrated in the process of understanding and managing risk.
Providing compelling evidence from all sectors and from across the globe, the paper recommends that the way to accelerate risk understanding at scale is through public, private and academic collaborations, made possible through shared use of open source platforms and data standards. The private sector has developed risk understanding as a survival skill and stands ready to work with sovereign ministries, development partners and humanitarians in strategic risk prevention, residual risk transfer and anticipatory action. Critically, this will build a shared language of risk across providers and users of risk capital.
Between them, the expert contributors identify that disasters and climate risk are intensifying, and their impacts – as we have seen recently with COVID-19 – are a global concern. As the authors suggest, to better prepare for these scenarios we need to move from managing disasters to managing the risk itself.
Content Type: Reports / Studies Topic / Theme: Climate & Disaster Risk Management, Forecast-Based Financing, Gender, Monitoring & Evaluation / Impact, Risk Data & Information Region: Global Year: 2020 Pages: 136 Language: English Organization: Insurance Development Forum
This report summarizes the main points discussed during the web-talk ‘Early Warning Systems and Risk Financing:
Opportunities for Enhancing Anticipatory Action’, co-hosted by the Secretariats of the InsuResilience Global Partnership and...
This report summarizes the main points discussed during the web-talk ‘Early Warning Systems and Risk Financing:
Opportunities for Enhancing Anticipatory Action’, co-hosted by the Secretariats of the InsuResilience Global Partnership and the Risk-Informed Early Action Partnership in October 2020.
These were the goals set for the event:
Showcasing concrete examples of risk financing solutions that are linked to early warning systems, shifting
pay-outs to an anticipatory, ex-ante stage and supporting the paradigm shift towards preventive risk
management.
Presenting options for anticipatory approaches to humanitarian funding, as well as inclusive insurance
solutions linked to early warning systems.
Gathering deeper insights from participants on the applicability of these approaches in different locations.
Providing the platform for stakeholders to discuss potential collaboration for piloting integrated approaches.
Based upon the best practice presented, discussing interfaces between humanitarian and risk financing
systems, how they can be connected, and consequently pave the way for pilot projects.
Content Type: Event Reports Topic / Theme: Forecast-Based Financing, Technology & Innovation Solutions / Instruments: Early Warning Region: Global Year: 2020 Pages: 2 Language: English Organization: InsuResilience Global Partnership, REAP
This report highlights the progress of the Global Risk Financing Facility (GRiF) achieved in fiscal year 2020 (FY20). It focuses on how GRiF works and what it funds, drawing on country examples to illustrate how the facility’s principles...
This report highlights the progress of the Global Risk Financing Facility (GRiF) achieved in fiscal year 2020 (FY20). It focuses on how GRiF works and what it funds, drawing on country examples to illustrate how the facility’s principles lead to action—and ultimately impact. It shows how GRiF is expanding the application of risk financing solutions to new sectors, contexts, and hazards, including to compound risks that will occur in the wake of the global COVID-19 pandemic. It also showcases how grants from the program are developing innovative analytics and other public goods that underlie the design of financial solutions. Finally, it offers a summary of GRiF’s participation in the global risk financing ecosystem through learning and sharing of new knowledge with partners and the public. Information on GRiF’s alignment with World Bank processes, detailed financial information, project summaries, results of FY20 progress as measured against the facility’s indicators.
Content Type: Reports / Studies Topic / Theme: Climate & Disaster Risk Management, Forecast-Based Financing, Gender, Monitoring & Evaluation / Impact, Private Sector, Risk Data & Information, Risk Finance, Technology & Innovation Solutions / Instruments: Contingency Budget, Contingent Credit, Corporate / Institutional Risk Transfer, Creation of DRF Strategy, Microinsurance Businesses, Microinsurance Households, Shock Responsive Social Protection, Sovereign Risk Transfer, Sub-Sovereign Risk Transfer Region: Global Year: 2021 Pages: 63 Language: English Organization: Global Risk Financing Facility
The ARC Replica Programme, initiated by Start Network and the World Food Programme in 2017, seeks to expand the coverage of the African Risk Capacity (ARC) Initiative, while giving the opportunity to test new financing tools for civil...
The ARC Replica Programme, initiated by Start Network and the World Food Programme in 2017, seeks to expand the coverage of the African Risk Capacity (ARC) Initiative, while giving the opportunity to test new financing tools for civil society (especially insurance), and ultimately the uptake of ARC. The ARC-Replica was initially implemented in Senegal. In November 2019, a drought was detected through the African Risk View (ARV) model, triggering the first pay-out from ARC to a non-Governmental entity, and the largest ever early action investment received by civil society. The Start Network received $10.6m, replicating the $12.5m received by the Government of Senegal. ARC Replica assistance was then provided across communities in seven regions, by six Start Network member agencies: Action Contre La Faim (ACF), Catholic Relief Services (CRS), Oxfam, Plan International (PI), Save the Children (SCI) and World Vision (WV). They provided unconditional cash transfers, fortified flour and carried out awareness raising around hygiene and nutrition, between April and September 2020. This took place in the context of the COVID-19 out-break in Senegal, which caused significant and unexpected difficulties both for implementing agencies and the communities with whom they work.
The evaluation reviews the impact of this pay-out on the Start Network members who received the funding and on communities reached through the actions which followed.
Content Type: Reports / Studies Topic / Theme: Climate & Disaster Risk Management, Forecast-Based Financing, Monitoring & Evaluation / Impact, Risk Finance Solutions / Instruments: Contingency Budget, Contingent Credit, Corporate / Institutional Risk Transfer, Early Warning, Shock Responsive Social Protection, Sovereign Risk Transfer Region: Sub-Saharan Africa Year: 2020 Pages: 72 Language: English Organization: Start Network
In Least Developed Countries and Small Island Developing States, farmers face many challenges in producing successful crops. Changing climates in agricultural zones around the globe are now bringing even more challenges. To help address...
In Least Developed Countries and Small Island Developing States, farmers face many challenges in producing successful crops. Changing climates in agricultural zones around the globe are now bringing even more challenges. To help address these challenges in Burkina Faso, funding from the Climate Risk and Early Warning Systems (CREWS) Initiative supports the strengthening of national capacities for early warning service delivery with a multi-hazard approach.
Since January 2017, the CREWS project in Burkina Faso has helped 100,000 small-scale rural farmers in Burkina Faso to access advanced agrometeorological advisories. The objective is to adjust their farming practices in order to optimize field cropping calendars. More than one million people across Burkina Faso’s northern region are now benefiting directly and indirectly from the initiative, improving their lives and livelihoods. Key partners in this initiative include the Burkina Faso National Meteorological Service, the World Bank and the World Meteorological Organization (WMO).
The InsuResilience Global Partnership and CREWS Initiative are closely interlinked. Both were launched in 2015 (the InsuResilience G7 initiative at the G7 Summit in Elmau, CREWS at COP21 in Paris, France) as part of the climate action agenda, contributing to resilience, and more specifically to protecting lives and livelihoods. Both advocate for preparedness, improved forecasting and informed decision-making, as demonstrated in this project and other project work. CREWS supports risk reduction and preparedness through a focus on early warning systems, while InsuResilience supports financial protection through a focus on climate and disaster risk-finance and insurance solutions within a framework of comprehensive risk management. Both are based on a core set of enhanced risk knowledge and contribute to risk management.
Content Type: Case studies Topic / Theme: Agriculture, Capacity Building, Climate & Disaster Risk Management, Forecast-Based Financing, Risk Data & Information Solutions / Instruments: Early Warning Region: Sub-Saharan Africa Year: 2021 Organization: CREWS
This documentary presents the experience of small-scale farmers with weather index insurance in Zambia. Lessons learnt from product development and implementation for the cotton sector in Zambia are discussed.
This documentary presents the experience of small-scale farmers with weather index insurance in Zambia. Lessons learnt from product development and implementation for the cotton sector in Zambia are discussed.