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 [...]
DOF Sec. Dominguez underscores need for climate-smart insurance in vulnerable economies
MANILA, 16 August 2019 – “The Philippine government is keen on strengthening its policies on climate financing,” Department of Finance (DOF) Secretary Carlos Dominguez stated in his remarks for today’s forum on climate-smart micro, small, and medium enterprise (MSME) insurance in vulnerable and emerging economies. “The challenges posed by climate change demand all hands be on deck,” Dominguez said in his statement, which was read in the forum by DOF Assistant Secretary Paola Alvarez. “Green financing will allow us to mobilize investments, from the wider use of renewable energy to improving the resilience of our communities.” The forum was [...]