InsuResilience Global Partnership at COP26

The 26th Session of the UN Climate Change Conference of Parties (COP26) took place between 1 – 12 November 2021,  and we would like to highlight the contributions of the InsuResilience Global Partnership to this event.

Four years after its launch, the InsuResilience Global Partnership (IGP) records a growing number of 112 members across sectors and is reaching 101 countries with 22 programmes and 228 projects to date. With this solid foundation, we look ambitiously to the future to scale up our action globally to achieve our goals.

Our strong involvement in the UN Climate Change Conference COP26 was geared towards achieving Vision 2025 and galvanising collaborative progress for Climate and Disaster Risk Finance and Insurance (CDRFI). In particular, there was a focus on increasing gender equality, providing guidance and principles for actors working in CDRFI, and promoting evidence-based approaches for policy and practice.

We are proud to announce new milestones at COP26 for the work of the InsuResilience Global Partnership and provide you with an overview of events that the InsuResilience Global Partnership has shaped, co-branded or participated in. Most notably, this includes the launch of the Evidence Roadmap, SMART Principles on Premium and Capital Support and InsuResilience Centre of Excellence on Gender-smart Solutions.

 

1 November

13:00 – 14:30 (GMT)  

Resilience Hub event: Climate and Disaster Risk Finance and Insurance: what works and what doesn’t? A strategic evidence roadmap

This session was organised by the InsuResilience Global Partnership together with Munich Climate Insurance Initiative and hosted at the Resilience Hub.  The session served as a main occasion to launch the Climate and Disaster Risk Finance and Insurance Evidence Roadmap, that aims to move the focus of the CDRFI community from innovation to learning by highlighting evidence priorities and driving joint research and evidence action. The CDRFI Evidence Roadmap is a community product and the result of a year-long expert-led collaborative process facilitated by the InsuResilience Impact Working Group.

A key takeaway highlighted that Implementation of the Evidence Roadmap will need to be resourced. Donor countries and agencies (e.g. the Federal Ministry of Economic Cooperation and Development of Germany and USAID) showed clear commitments to continue to provide public resources towards evidence generation and use on CDRFI, in line with the Evidence Roadmap.

Access the Resilience Hub for a recording on the session.

 

1 November

15:30 – 17:00 (GMT)  

German pavilion side event: Post-pandemic recovery: Can there be an infrastructure resilience dividend? – Disaster Resilient Infrastructure Dialogue Series

This session was hosted at the German Pavilion and organised by the InsuResilience Global Partnership (IGP) in cooperation with the Coalition for Disaster Resilient Infrastructure (CDRI) and the Coalition for Climate Resilient Investment (CCRI).   The dialogue drew fresh policy perspectives by world leaders from different economies, multilateral development banks, and private sector on accelerating financing and financial protection for climate and disaster resilient infrastructure in the context of post-Covid-19 recovery.

Find out more information via the link to the German Climate Pavilion.

 

3 November

17:30 – 19:30 (GMT)  

High-level Roundtable: Building Resilience in a Riskier World: Actions towards a climate resilient future

This session was co-organised by InsuResilience Global Partnership, together with the Insurance Development Forum, United Nations Development Programme, and the V20 Group of Ministers of Finance.

Key takeaways

  1. The event focused on fostering public-private partnerships and marked the announcement and signing of a formal partnership between the IDF and V20 Ministers of Finance to establish the Global Risk Modelling Alliance (GRMA), as a public-private partnership to promote access to, and local development of, risk and resilience analytics.
  2. Furthermore, the event featured the formal launch of the Global Resilience Index (GRI) as a key deliverable of the COP26 Private Finance Hub and national investment prioritisation tool for industrialised, developing and emerging economies to support Article 2(c) of the Paris Agreement and enhance their Nationally Determined Contributions.

Link to recording to follow.

 

4 November

13:30 – 14:30 (GMT)  

COP26 3rd PCCB Capacity-Building Hub Finance & Technology Day Side Event

InsuResilience Secretariat were invited as a panellist to this session organised by IGP member, the Slycan Trust:

  • The event brought together stakeholders from governments, private- and non-governmental sectors to share experiences from Asia, Africa, and Europe on tackling capacity needs and building technical, financial, and institutional capacities for enhanced climate risk finance options.
  • The event highlighted cross-cutting issues for capacity-building on inclusive and participatory climate and disaster risk finance, including gender, youth, and vulnerable communities and improved networking among stakeholders fostering capacity-building partnerships, and collaboration in scaling up actions.
  • With a panel discussion focusing on enhancing capacities and skills for climate and disaster risk finance, Tuga Alaskary presented the IGP approach to increase risk understanding and scale up capacity-building by promoting the Knowledge Hub, the Evidence Roadmap, and the activities of the InsuResilience Centre of Excellence on Gender-smart solutions.
  • One of the key outcomes of the event is a knowledge product based on capacity needs for scaling up climate risk transfer options i.e. input collected and published in the form of a short policy note.

For more information, please visit the Capacity-Building Hub UNFCCC.

 

7 November

11:30 – 12:30 (GMT) 

World Climate Summit: Investing for Resilience – The Insurance Industry & Redirecting Capital into Resilience Enhancing Investments

InsuResilience Global Partnership was invited as a panellist in this session.

  1. The event explored how insurers, investors and global partnerships are working to move beyond traditional risk management and response, in a time of climate-related losses and changes in asset values, and the transition to a low-carbon economy.
  2. The panel discussed strategies and best practices to manage, adapt and respond to existing risks, including ways to work across sectors to successfully lower these risks and build more resilience.
  3. The speakers agreed on and promoted greater global collaboration and public-private-partnership to catalyse future action particularly to close gap in funding and the gap in the risk insurance penetration of the most vulnerable counties.
  4. Astrid Zwick represented the InsuResilience Global Partnership, highlighting the key deliverables at COP: Evidence Roadmap launch, SMART Premium Financing Principles, and the launch of the InsuResilience Centre of Excellence on Gender-smart Solutions.

Visit the World Climate Summit Website

 

9 November

11:00 – 13:00 (GMT)  

 

UK Ministerial Headline Event on Gender Day

COP26 Headline Event (Gender) Advancing Gender Equality in Climate Action

This session was part of the COP26 Presidency programme and took place in the main plenary hall. InsuResilience Global Partnership was invited to discuss the launch of the InsuResilience Centre of Excellence on Gender-smart Solutions and was represented by its member, Executive Director of the Mahila Housing Trust who provided a video statement from India.

  1. The high-level event opened the COP26 Gender Day by the UK Presidency and hosted climate leaders presenting their recent commitments to addressing gender equality within climate action.
  2. The event encouraged commitments under the Feminist Action for Climate Justice to increase direct access to financing for gender-just climate solutions, in particular for women and girls at grassroots levels; to enable women and girls to lead a just transition to a green economy; to build the resilience of women and girls to climate impacts; and to increase the collection and use of data on the gender-environment nexus.
  3. Mahila Housing SEWA Trust (MHT) represented the InsuResilience Centre of Excellence on Gender-smart Solutions (CoE) by highlighting collaboration efforts and successes in implementing gender-related activities in India. Bijal Brahmbhatt spoke on gender-discriminatory root causes of higher climate risk for many women, and how MHT established approaches to include women in decision-making processes and remove barriers to access financial instruments in order to strengthen women’s agency as climate and disaster risk management strategists.

Please find a link to the recording: COP26: Advancing Gender Equality in Climate Action – YouTube

 

9 November

14:00 – 16:05 (GMT)  

 

Launch of the V20-led Sustainable Insurance Facility and Collaboration on Risk Analytics

In the event “We Are All At Risk: Collaborative Efforts to Invest in Resilience and Close the Financial Protection Gap”, chaired by the V20 Presidency and held in partnership with the UNEP FI Principles for Sustainable Insurance (PSI), the Munich Climate Insurance Initiative (MCII), and the InsuResilience Global Partnership, representatives from the V20, the G20 and partner organisations discussed their vision of a climate-resilient world and unveil collaborative solutions for achieving this goal.

Please visit the link to the recording and press release.

 

9 November

14:30 – 15:30 (GMT)  

European Union Pavilion: Why investing in scaling up gender-responsive climate action matter?

This session organised by the InsuResilience Global Partnership in collaboration with the United Nations Population Fund, the Risk-informed Early Action Partnership, the International Federation of Red Cross and Red Crescent Societies (IFRC), the Anticipatory Action Task Force, the Anticipation Hub, CARE International and the European Commission – DG ECHO. InsuResilience Secretariat was a member of the panel.

Key takeaways:

  1. This event brought together stakeholders in anticipatory action and risk financing to emphasise the need to consider the gender dimensions in anticipatory action for climate change and disaster risk financing.
  2. The inputs of diverse speakers aimed at mobilising stakeholders to increase financing for gender-smart approaches in climate action. For this, the panel discussed the importance of a gender lens and its opportunities for early warning systems and anticipatory action, how to implement gender-responsive approaches on the ground, and how to increase impact through partnerships
  3. Tuga Alaskary, Advisor at the Secretariat and lead of the InsuResilience Centre of Excellence on Gender-smart Solutions, explained the importance of gender-smart climate action and shared insights from the work of the InsuResilience Global Partnership and the Centre of Excellence on Gender-smart solutions toward scaling up gender-sensitive and -responsive CDRFI approaches. She further presented the Vision 2025 and how the InsuResilience community is collaborating on achieving the goals to better understand risk and provide context-specific CDRFI solutions to the most vulnerable countries and people.

 Visit the recording of the event: Why investing in scaling up gender-responsive climate action matter? (GMT Time) – YouTube

 

9 November

15:00 – 18:00 (GMT) 

 

UNFCCC Virtual Gender Market Place

The UNFCCC Gender Team organised a Virtual Gender Market Place and InsuResilience Global Partnership was invited to have a virtual stall to present its work on gender and exchange with other participants.

Visit the event website.

 

9 November

16:00 – 17:00 (GMT) 

 

 

The official launch of the InsuResilience Centre of Excellence on Gender-smart Solutions

The InsuResilience Centre of Excellence (CoE) on Gender-smart Solutions was launched in an event chaired by Canada´s Climate Ambassador Patricia Fuller. The launch of the CoE consolidates the knowledge and efforts of a growing community of gender champions and several key members of the InsuResilience Gender Working Group spoke at this event or were present in the audience.

For an overview of the launch event, visit the blog post and witness a recording of the Livestreamed Event.