This Policy Note examines how risk financing considerations can enhance vulnerable economies’ resilience efforts if integrated into national adaptation and investment processes, and efforts to address loss and damage. References are made to three instruments under the United Nations Framework Convention on Climate Change (UNFCCC): NDCs, NAPs and adaptation communications (adcoms). The increasing frequency and severity of disasters as a result of climate change threatens lives and livelihoods, food security, water supply, property security, and economic prosperity across the globe. Adaptation is vital to make society resilient to the impacts of climate change.
The Policy Note suggests the following action areas for the InsuResilience Global Partnership to be taken forward in cooperation with other partners and initiatives:
- Raise awareness and support advocacy for the benefits of integrating risk finance instruments and strategies into national resilience and adaptation efforts;
- Enhance capacity building across in-country institutions;
- Strengthen availability and access to data, information and knowledge to model resilience baselines and set investment targets;
- Promote country-driven access to private sector expertise and capital;
- Disseminate good practices.