Support for Climate Vulnerable Countries
The Global Shield against Climate Risks strengthens the financial protection of climate-vulnerable countries through pre-arranged solutions that provide quick and reliable funding when climate-related losses and damages materialize.
The Global Shield supports countries in identifying and implementing the most cost-effective solutions to cover their financial protection gaps. Global Shield countries undergo the In-Country Process (ICP), an inclusive multi-stakeholder process designed to better understand protection gaps, take stock of existing solutions, and identify new areas for intervention. This process enables countries to submit a request for support to the Global Shield, informed by risk data, evidence and perspectives of vulnerable groups.
The request is channelled to the Global Shield Coordination Hub and its Financing Structure which jointly devise a comprehensive support package of various climate and disaster risk finance and insurance (CDRFI) solutions that are tailored to the country’s protection needs.
Which Countries are Prioritized?
With its launch in 2022, The Global Shield’s approach to developing financial support packages at country-level is being piloted in eight Pathfinder Countries and one Pathfinder Region. From 2024 onwards, a new cohort of countries will be able to apply each year. As more countries may seek to access the Global Shield than can be accommodated, countries will need to be prioritized.
According to the Global Shield Framework for Prioritization of Country Support, interested countries are assessed according to three criteria: poverty levels, vulnerability to climate and disaster risk, and readiness for financial protection. The ranking will be complemented by a qualitative assessment based on consultations between country representatives and the Global Shield Secretariat. Countries with the greatest needs and prospects of success according to the framework are admitted to the next cohort following approval by the Global Shield Board.
The size of each cohort depends on the total available funding in the Global Shield Financing Structure, the number of countries already undertaking the In-Country Processes, and the funding requirements per country.
How Can Countries Apply?
The Global Shield Secretariat is currently not accepting expressions of interest from climate vulnerable countries to join the Global Shield.
Information on the next Call for Expression of Interest will be published shortly on this website. Following the submission of an expression of interest, the Global Shield Secretariat conducts consultation calls with interested country representatives to clarify procedures and set expectations.
The highest-ranking countries according to the Prioritization Framework are subsequently invited to submit an official letter of commitment. Once the Global Shield Board approves the list of countries that expressed their commitment to conduct the In-Country Process, the new cohort of countries are announced on the Global Shield website.
Timeline for the Upcoming Cohort of Global Shield Countries
The Global Shield Secretariat holds Consultation Calls with interested countries.
The new cohort of countries approved by the Global Shield Board is officially announced.