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Activities in Global Shield Countries

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Where the Global Shield is active

The Global Shield against Climate Risk aims to support countries that are most vulnerable to climate risks. The initiative is currently active in Bangladesh, Costa Rica, The Gambia, Ghana, Madagascar, Malawi, Pakistan, Peru, The Philippines, Rwanda, Senegal, Somalia, and the Pacific region. 

Updates from Global Shield Countries

Pakistan

First country in Asia to initiate access to Global Shield support

20.11.2024

Pakistan, ranked as the fifth most vulnerable country to climate-induced disasters, reaffirmed its commitment to enhancing financial protection against climate-induced risks as a Global Shield beneficiary country today at COP29. Following a comprehensive in-country  process, the Ministry of Climate Change and Environmental Coordination (MoCC&EC), with support from UNDP Pakistan, has finalized the priority areas for its request for support to scale up pre-arranged finance through the Global Shield.

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Ghana

Implementation of Support Package

17.10.2024

The Government of Ghana has purchased its first-ever sovereign drought insurance policy taking a significant step towards safeguarding its vulnerable communities and agricultural sector from potential drought. Through an inclusive, country-led process coordinated by the Global Shield Secretariat, the African Risk Capacity (ARC) Ltd. issued the policy for the benefit of the Government of Ghana, with premium support financed by KfW Development Bank on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the Global Shield Solutions Platform (GSSP). The ARC policy forms one important element in the Global Shield Support Package. For an overview, see here.

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The Gambia

Resilience in The Gambia Gains Momentum with Inaugural Global Shield Workshop

16.10.2024

The Gambia’s campaign for resilience shifted to high gear as it  launched the inaugural Global Shield workshop in Banjul from 18 to 19 September 2024. The event was organized by The Gambia’s Ministry of Finance & Economic Affairs (MOFEA), Ministry of Environment, Climate Change & Natural Resources (MECCNAR), and National Disaster Management Agency (NDMA). The collaboration brought together stakeholders to kick off consultations aimed at addressing the country’s most pressing financial protection needs in the face of intensifying climate shocks.

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Tonga

Strengthening Financial Resilience against Climate Risks in Tonga

30.09.2024

Tonga recently hosted the inaugural workshop of the Global Shield against Climate Risks, an initiative jointly led by the G7 and V20 Group. Organized under the leadership of the Ministry of Finance, the workshop brought together key stakeholders to evaluate Tonga’s current landscape of climate and disaster risk financing and insurance, while identifying key gaps in financial protection that need to be addressed. 

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Madagascar

Launch of the Global Shield in Madagascar

24.09.2024

The Republic of Madagascar, through the Emergency Management and Prevention Unit (Cellule de Prévention et d’appui à la Gestion des Urgences, CPGU) and the Ministry of Economy and Finance, launched the “Global Shield against Climate Risks” initiative today. In partnership with the Global Shield Secretariat, the initiative kicked off with a two-day workshop that marks the beginning of the In-Country Process (ICP).

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Republic of the Marshall Islands

Republic of the Marshall Islands kicks off In-Country Process

17.09.2024

The Republic of the Marshall Islands (RMI) successfully hosted the first workshop of the G7- and V20-led Global Shield against Climate Risks, an initiative aimed at addressing severe climate hazards threatening the nation’s vulnerable communities through pre–arranged financing solutions. Under the strong leadership of the Ministry of Finance, this workshop brought together key stakeholders to review the current landscape of climate and disaster risk financing and insurance and identify most pressing financial protection gaps. 

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Fiji

Fiji Enhances Financial Preparedness for Climate and Disaster Risk

14.08.2024

Fiji’s Ministry of Finance, Strategic Planning, National Development and Statistics led multi-stakeholder consultations in Suva last week to strengthen locally owned risk insight and access to pre-arranged and trigger-based finance against climate and disaster risks. 

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Senegal

Strengthening Senegal’s Financial Resilience to Climate Change

23.07.2024

The Republic of Senegal, through the Ministry of Finance and Budget, in partnership with the World Bank and the Global Shield Secretariat, launched the first workshop in Senegal in July 2024 to present the results and conclusions of the diagnostic on climate and disaster risk financing. 

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Costa Rica

Costa Rica hosts first Global Shield workshop in Latin America

15.07.2024

Costa Rica’s Ministry of Finance and the insurance regulator Superintendencia General de Seguros (Sugese) held multi-stakeholder consultations in July 2024 to identify the country’s most pressing financial protection needs in the face of accelerated climate shocks.

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Ghana

Request for Support

26.04.2024

Under the leadership of the Ministry of Finance, Ghana submitted a Request for Support, pointing at key financial protection gaps in the area of sovereign-level pre-arranged finance, urban flood coverage, and agricultural insurance. The Global Shield Support Package addresses these gaps with premium funding for ARC’s drought insurance, premium funding for flood protection in Accra, technical assistance to expand flood protection to other cities, and technical and financial assistance to scale agricultural insurance for smallholder farmers. The Request for Support can be shared by the Secretariat upon request.

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Ghana

Gap Analysis Report

19.01.2024

The gap analysis provided input for Ghana’s Request for Support to the Global Shield and has the overall objective to facilitate informed decision-making by the Government of Ghana on major projected climate risks and gaps in financial protection.

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Ghana

Highlights of the 2nd In-Country Workshop

22.11.2023

The workshop held on the 8th and 9th of November in Cape Coast, Ghana, paved the way for Ghana to receive tailored support by the Global Shield to scale up financial protection against climate risks.

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Pakistan

In-Country Process Started

17.11.2023

The United Nations Development Programme and the Ministry of Climate Change & Environmental Coordination (MoCC&EC) kicked off the In-Country Process for the Global Shield, with a two-day multi-stakeholder consultation on climate-risk insurance and financing to reduce climate risks, and strengthen climate-adaptation mechanisms.

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Global

Way Forward for Interested Countries

02.11.2023

At the margins of the World Bank Annual Meetings in Marrakech, high-level representatives of the Global Shield Co-Chairs held a breakfast meeting to discuss lessons learnt from the In-Country Process in Ghana and listen to the needs of countries striving to fortify their resilience against climate-related risks and disasters. 

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Ghana

Initiating the In-Country Process

06.07.2023

The government of Ghana took its first steps in activating the G7- and V20-led Global Shield against Climate Risks by hosting a consultation over the past two days towards identifying their financing needs and gaps to combat accelerating climate and disaster risks.

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Vision & Mission

The Global Shield aims to increase protection for vulnerable people by providing and facilitating substantially more and better pre-arranged finance against disasters.

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Governance

The governance structure of the Global Shield consists of the Global Shield Board and the Global Shield Coordination Hub.

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Resources

This subpage provides further links, publications, and guiding documents on the Global Shield against Climate Risks.

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Activities

The Global Shield against Climate Risk aims to support countries that are most vulnerable to climate risks.

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