This COP 23 Presidency Event will showcase frontiers of climate risk management, including an array of innovative solutions on how visionary cooperation across sectors, international, regional and national schemes will pave a path towards a resilient future. The event will launch the new initiative “InsuResilience Global Partnership”, which aims to provide vulnerable countries with financial protection to manage climate risks. It is a first response to the G20 welcoming “the creation of a ‘Global Partnership for Climate and Disaster Risk Finance and Insurance Solutions” in its 2017 Climate and Energy Action Plan for Growth. The new initiative also responds to a relevant call from the V20 to this effect. The initiative will seek to broaden its partnership, and will announce significant contributions towards its implementation. The event will also showcase transformative frontline actions by regional and global partnerships such as the Caribbean Catastrophe Insurance Facility and will promote synergies with other successful initiatives, including the UN Secretary-General's Climate Resilience Initiative “A2R” and the initiative on climate risk early warning systems (CREWS). The event will present the UNFCCC Clearinghouse for risk transfer, that serves as a repository for information on insurance and risk transfer, in order to facilitate the efforts of Parties to develop and implement comprehensive risk management strategies.
The event, convened by the Prime Minister of the Republic of Fiji and President-designate of the UN Climate Change Conference (COP 23), Hon. Frank Bainimarama in cooperation with the German Federal Ministry for Economic Cooperation and Development, Dr. Gerd Müller, will bring together other principals of international organizations, Ministers and insurance sector leaders to promote and catalyze scaled-up cooperation and synergies among all stakeholders to provide solutions for climate resilience.