The Global Shield also supports regional approaches with a focus on supporting regional solutions to address protection gaps across various countries.
The Global Shield will develop a regional approach for the 14 Pacific Island Countries (PICs). This approach in the Pacific was chosen due to the smaller economic size of the PICs. It will ensure that solutions for financial protection against climate risks are identified that are beneficial across PICs. The objective is to focus on the financial protection needs that the governments are prioritising through an inclusive and participatory approach, fully supported by the Global Shield on the ground in the Pacific region. Close cooperation with the regional risk pool Pacific Catastrophe Risk Insurance Company (PCRIC) and regional intergovernmental organisations will help leverage existing relationships and institutional capabilities for the implementation of Global Shield support packages.
Further approaches for other regions may be launched in the future.