The Global Shield Solutions Platform (GSSP) is a new financing vehicle helping vulnerable countries to effectively address loss and damage exacerbated by climate change. It was launched at the occasion of the…
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Looking for support to transform your concept into a climate risk insurance product?
Submit your Concept Note and apply for funding now! The submission deadline for the 4th Call for Proposals is 29/01/2021, 23:59 CET.
Please note, the 4th Call for Proposals has a geographical focus on countries in Asia and the Pacific, Africa and Latin America which are eligible to receive official development assistance (ODA) and are vulnerable to extreme weather events.
In light of the ongoing COVID-19 pandemic, a holistic approach on disaster relief and preparedness seems more vital than ever in order to compensate (in-)direct effects on economic development and growth of ODA countries. Thus, the ISF especially welcomes project concepts targeting the sectors most vulnerable to effects of the pandemic, such as critical infrastructure, emergency relief and financial support of (M)SMEs.
In case of any questions, please reach out to firstname.lastname@example.org
Vulnerable people and countries need to be better protected against climate change risks. In response to the increasing threat of climate change, the Vulnerable Twenty (V20) Group of Ministers of Finance and the G7 launched the Global Shield against Climate Risks on 14 November 2022 at the COP27 climate conference. The Global Shield will provide more coherent, sustained, and better-coordinated financial protection against climate risks.
The Global Shield-Solutions Platform (GSSP) constitutes a central element of the financing structure of the Global Shield against Climate Risks. It will provide technical assistance and financial support to partner countries with the objective to increase the resilience of vulnerable people of the Global South against climate risks and consequently help to avert, minimise and address losses and damages of climate change.
The GSSP is one of three financing vehicles under the Global Shield. It represents a multi-donor grant facility building upon the experience of the InsuResilience Solutions Fund (ISF), the GSSP will pursue a needs-driven, inclusive approach.
It operates based on comprehensive in-country coordination amongst key stakeholders working on climate and disaster risk finance and insurance as well as in response to specific global or regional thematic requests.
The GSSP will source suitable supply-side partners to address country requests for support. It will provide funding for
- research, capacity building, modelling and data support;
- concept and solutions development; and
- implementation support, e.g. premium financing
In a nutshell, it fosters greater financial protection and faster and more reliable disaster preparedness and response. It builds on country ownership, evidence-based, systematic gap analysis, solid in-country coordination, and improved and inclusive coordination among relevant stakeholders to lower the impact of climate disasters, make vulnerable countries’ economies more resilient, safeguard sustainable development, and protect lives and livelihoods of vulnerable people and communities.
International Development Partners
Under Germany’s G7 Presidency in 2022, G7 countries, in close cooperation with the Vulnerable Twenty (V20) Group of Minister of Finance agreed to set up a Global Shield against Climate Risks. The Global Shield was officially launched on 14 November 2022 at the COP27 climate conference. As one of three financing vehicles of the Global Shield, the Global Shield-Solutions Platform (GSSP) has received first commitments by the German Ministry for Economic Cooperation and Development (BMZ), the French government and the Danish Ministry of Foreign Affairs. Other contributors are expected to commit additional funding in the coming months.