Enhancing Resilience of Vulnerable Local Communities Through Multi-Actor Partnership for Climate and Disaster Risk Finance and Insurance

Climate and disaster risk finance and insurance (CDRFI) is one of the most viable options that vulnerable countries, such as the Philippines, can consider in effectively dealing with the financial costs and shocks of the damages and losses from the negative impacts of climate-induced rapid and slow-onset events. CDRFI, as a climate adaptation and mitigation approach, creates a space where vulnerable communities can prepare and build back, if not build back better, by ensuring the availability of resources necessary to recover from potential losses. The Philippines has exerted great effort in this regard, with the Department of Finance and the Climate Change Commission leading the charge. However, there remains much to be done. 

The Multi-Actor Partnership (MAP) project specifically seeks to capture these discussions and bring them forward toward a bigger platform, such as that provided by the InsuResilience Global Partnership and other regional insurance. To formally start the MAP implementation in the Philippines, the Institute for Climate and Sustainable Cities, in partnership with the Regional Climate Change R&D Center–Visayas State University (VSU) and with the support of the Munich Climate Insurance Initiative, has organized a series of local inception workshops, particularly in Haiyan-affected areas. 

Eduardo O. Mangaoang, Ivory Ace A. Palacio, Ronan Renz Napoto, and Eulaine Marie D. Mangaoang, Visayas State University 

This study was conducted by the Visayas State University, in partnership with the Institute for Climate and Sustainable Cities (ICSC), as part of the global Multi-Actor Partnership (MAP) project.

MAP on CDRFI in the context of the InsuResilience Global Partnership (IGP) is a global project implemented by a group of civil society organizations from Laos, Sri Lanka, Malawi, Madagascar, Senegal, Philippines, Caribbean, and Germany. In addition to global level influencing work, the core of MAP in the Philippines will be engagement in both the national and subnational level, capacity development and the establishment of MAP on climate risk finance. ICSC is the main implementer of MAP in the country.

This project is funded by the German Ministry for Economic Cooperation and Development (BMZ) and is coordinated by CARE Germany together with Germanwatch and the Munich Climate Insurance Initiative (MCII).