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Risk management approaches to address adverse effects of climate change

In pursuance of the conclusions reached by the SBI at its twenty-eighth session (FCCC/SBI/2008/8, para 38), the Secretariat has prepared an information note to review experiences, best practices and lessons learned on risk management approaches and other appropriate responses to the adverse effects of climate change, in accordance with Article 4, paragraphs 8 and 9, of the Convention.  The production of this information note has led to the creation of this introductory guide to risk-management approaches that explores the most important risk-management options available and pilotted today, drawing on a number of case studies.

Risk management approach to the adverse effects of climate change

flodding image Insurance

According to the Fourth Asssessment Report of the IPCC, there was a rapid increase in weather-related disasters worldwide between 1980 and 2003.  This trend is expected to continue and intensify in the future, taking a particlarly severe toll in those developing countries that are the poorest and most vulnerable, such as small island developing states and least developed countries.  Insurance has become a key component of adaptation to climate change and disaster risk reduction because it can provide economic security and enable vulnerable populations to pool economic losses, thereby mitigating the impacts of adverse weather events and avoiding knock-on effects.  Different types of insurance schemes are available and described further in here.
technology Innovative technologies

The utilisation and development of environmentally sound technologies is seen as a means to combat the adverse affects of climate change, in both developing and developed countries.  Innovative technologies have been used as an adaptation option in different economic sectors.
economic diversification Economic diversification

Economic diversification may be defined as a process in which a growing range of economic outputs are produced.  Sectors such as  tourism, agriculture, fisheries, forestry and energy production are all sensitive to the adverse effects of climate change.  The negative impacts of climate change on these sectors are of concern to all countries, especially for those whose economies are primarily driven by climate sensitive sectors.  Examples of best practice and lessons learned are provided for three key sectors.
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Related UNFCCC resources

Synthesis report on Views and information on the elements to be included in the work programme on loss and damage

Technical paper on Integrating practices, tools and systems for climate risk assessment and management and disaster risk reduction strategies into national policies and programmes.

Technical paper on Mechanisms to manage financial risks from direct impacts of climate change in developing countries