The Global Shield against Climate Risks makes it to the Petersberg Climate Dialogue
As the Petersberg Climate Dialogue in Berlin unfolds, attention came back to the critical issue of how to deal with loss and damages related to climate impacts. Prominent in these discussions was Germany’s proposal of a Global Shield against Climate Risks.
After receiving the backing of the heads of state and government of the G7 in June, Germany’s Development State Secretary Jochen Flasbarth introduced the concept of the Global Shield to over 40 invited ministers.
Building on the work of the InsuResilience Global Partnership, the joint offer of the G7 envisages a shield against climate risks that comes into effect before a crisis occurs. For example, set up of early warning systems in the especially vulnerable countries, preparedness plans drawn up by developing countries and financing systems that provide quick support when a harmful event occurs. This would include insurance schemes or social protection systems.
Loss and damage was one of the most contentious issues at the last climate conference. Germany has been engaged in developing support programmes for dealing with climate-related damages, with a view to providing protection against climate risks for the most vulnerable groups. It is against this background that, under Germany’s G7 Presidency in 2022, the G7 has recognised that vulnerable developing countries need more support for dealing with climate-related damage. In this regard, Germany took the first steps towards drafting a proposal for a Global Shield against Climate Risks, with the aim of facilitating new, constructive solutions for the benefit of the poorest and most vulnerable population groups.
In a recent interview for Tagesspiegel on how the Global Shield against Climate Risks will support vulnerable countries, Federal Minister for Economic Cooperation and Development Svenja Schulze said: “we will be making a concrete offer for dealing with future climate damage in developing countries in the international climate negotiations. We received the backing of the G7 heads of state and government in Elmau at the end of June. My aim is to launch this umbrella at the World Climate Conference in Egypt in November together with the particularly vulnerable developing countries and then gradually expand it.”
For more information on the Global Shield against Climate Risks, please find the official factsheet published by BMZ.
* The Petersberg Climate Dialogue was launched in 2010 by former Chancellor Merkel. It brings together selected countries every year to set the course for successful negotiations at the COP world climate conference.