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Action Pledges

Title

Financial innovations for social and climate resilience: Establishing an evidence base

Partner World Bank (WB)

Date of submission 21/10/2011

Description

Action Pledge 2 

Market-based risk financing mechanisms such as index insurance, microinsurance, etc., have the potential to play an important role in reducing vulnerability and building resilience to climate change impacts. A number of important initiatives have demonstrated great potential, but also a number of challenges before they can provide an inclusive, sustainable mechanism that can be applied at a large scale and contribute to climate change adaptation.  This research initiative will establish an evidence base on the social impacts of microinsurance, index insurance, and other related market-based risk financing on poor households and their risk management strategies. The initiative aims to provide all Parties, particularly developing countries, with an improved understanding of what insurance can and cannot do in relation to climate change adaptation and enable them to make informed decisions on climate risk financing and measures to invest that would contribute to the climate resilience of the poor.

Further information

www.worldbank.org/sdcc

Regional focus All regions
Sector Other
Adaptation delivery activity Capacity building
Climate-resilient development planning
Disaster risk reduction
Education
Financial support
Knowledge management
Monitoring and evaluation
Pilot adaptation programmes/projects
Risk/vulnerability mapping
NWP work area Adaptation planning and practices
Climate related risks and extreme events
Methods and tools
Research
Technologies for adaptation
Target group Academics
Communities
Policy makers
Practitioners
Private sector
Women

Organizations, institutions and private sector companies at all levels and in a wide range of sectors can become engaged with the NWP by becoming a partner and making Action Pledges. Information about how organizations can become engaged with work on adaptation under the NWP can be found here.