The Global Shield Programme for Resilient Risk Pools of the Global Shield Solutions Platform as an important element of the financing structure under the Global Shield against Climate Risks
The event aims to strategically raise awareness and explore the collaborative partnership between the transformative Global Shield against Climate Risks, the Global Shield Solutions Platform, and the Regional Risk Pools. It emphasizes their shared commitment to strenghten vulnerable countries’ financial resilience against climate and disaster risks.
Hosted by the Global Shield Solutions Platform and the Regional Risk Pools and backed by the Global Shield Secretariat, this event will provide a platform to discuss the required support Regional Risk Pools need and will have access to under this new programme of the Global Shield Solutions Platform.
With the support made available with the launch of the programme, the Regional Risk Pools will be able to significantly amplify their efforts, expand their offer to member countries, and strengthen their capacities in developing insurance solutions aimed at protecting countries from the impact of natural disasters.
Furthermore, the event will raise awareness and deepen public understanding of the vital contribution of Regional Risk Pools, the Global Shield Solutions Platform, and the Global Shield to addressing losses and damages caused by climate change by fostering pre-arranged finance solutions.
Regional Risk Pools are a central part of the global disaster risk finance architecture. They provide climate-vulnerable countries with financial protection at reasonable costs through sovereign parametric insurance products. Current regional risk pools include the African Risk Capacity (ARC), CCRIF SPC (formerly The Caribbean Catastrophe Risk Insurance Facility), the Pacific Catastrophe Risk Insurance Company (PCRIC), and the Southeast Asia Disaster Risk Insurance Facility (SEADRIF).