Make climate finance pro-poor, equitable, and people-centered – Asian countries
BALI, INDONESIA, June 1, 2022 – Governments and civil society groups from South and Southeast Asia signed an agreement to enable inclusive, gender equitable, and human rights-based climate and disaster financing for vulnerable nations. “Worsening climate change impacts, particularly episodic extreme weather events, are threatening no less than the long-term economic viability of developing countries. Climate and disaster risk finance and insurance (CDRFI) is thus central to the response to such an existential threat by making urgently needed resources available and by providing more inclusive and responsive services. Through CDRFI, countries can develop stronger, more coordinated climate change and disaster [...]
Finance ministers of world’s most climate-vulnerable economies establish insurance facility with UN Environment Programme to protect MSMEs
Reposted from the UNEP FI Principles for Sustainable Insurance (PSI) Initiative website. UNEP’s Principles for Sustainable Insurance Initiative to host V20 Sustainable Insurance Facility with initial funding from the German government 19 July 2021—As climate change worsens extreme weather events across the globe, the Vulnerable Twenty Group of Ministers of Finance (V20)—comprising 48 climate-vulnerable economies with a combined population of 1.2 billion people and a 5% share of global emissions—recently reached one of their key climate finance milestones with the establishment of the V20-led Sustainable Insurance Facility (V20-SIF). The V20-SIF was highlighted as one of the V20’s key initiatives in [...]
Dominguez calls for more climate, disaster risk financing with other vulnerable countries
2 June 2021 -- Finance Secretary Carlos Dominguez reiterated yesterday the need to secure economic growth and community resilience amidst growing risks from climate change. Secretary Dominguez along with several officials from the Vulnerable 20 Group of Finance Ministers (V20) addressed the High Level Consultative Group meeting of the InsuResilience Global Partnership, an initiative between the G7, G20 and V20 to insure 500 million of the poorest and most climate-vulnerable people around the world. “The ongoing pandemic added to the Philippines’ vulnerabilities, but it has steeled our determination to make our economic development more inclusive, and our communities more resilient,” [...]