News around the Global Shield
This subpage showcases relevant news around the Global Shield against Climate Risks.
Latest news
Global Shield Stands Ready to Collaborate with the Fund for responding to Loss and Damage
29.04.2025
WASHINGTON, D.C., 29 April 2025 – The Global Shield against Climate Risks addressed the first High-Level Dialogue on “Strengthening Response(s) to Loss and Damage through Complementarity, Coherence and Coordination”, which was hosted by the Fund...
Malawi officially launches Global Shield activities to address impacts of climate change
28.04.2025
LILONGWE, 28 April 2025 – Due to climate change, Malawi is experiencing increasing frequency and intensity of droughts, pest attacks, and tropical cyclones, leading to floods. Droughts cause an average annual loss of at least...
Ghana receives first insurance payouts by the African Risk Capacity to help address impacts of recent droughts
08.04.2025
Between August and November 2024, the Northern regions of Ghana experienced severe drought which impacted the main food staples and crops such as maize, millet, groundnut and rice; spiking food security concerns and significant crop...
The Global Shield in Action: 2024 in Review and the Year Ahead
19.12.2024
2024 has been an exciting year for the Global Shield against Climate Risks, as Global Shield countries continued to make headways in delivering and taking progressive steps towards implementing pre-arranged financing solutions. With the promise...
Global Shield at COP29: Supporting Climate-Vulnerable Countries
02.12.2024
At COP29, the Global Shield against Climate Risks, a G7-V20 initiative, reaffirmed its commitment to protecting climate-vulnerable countries through pre-arranged finance. Co-Directors Nilesh Prakash and Dr. Astrid Zwick led the delegation, unveiling the Global Shield...
Global Shield Ambition Launch Sets New Strategic Direction to Enhance Financial Resilience for Climate-vulnerable Countries
20.11.2024
BAKU, 20 November 2024 – The Global Shield against Climate Risks officially launched the Global Shield Ambition today at COP29, during a dedicated high-level launch event “Global Shield Ambition: Enhancing Financial Protection for Climate-Vulnerable Developing...
Pakistan becomes first country in Asia to initiate access to support from the Global Shield to close the financial protection gap through enhanced pre-arranged finance
20.11.2024
Baku, 20 November 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....
Global Shield Underscores Commitment to Support the Fund for responding to Loss and Damage
13.11.2024
BAKU, 13 November 2024 – The Global Shield against Climate Risks took part in the launch of the annual High-Level Dialogue on Coordination and Complementarity for Funding Arrangements Responding to Loss and Damage. The event...
Barbados assumes Co-Leadership of Global Shield to Strengthen Financial Protection against Climate Risks
07.11.2024
Washington, D.C., 7 November 2024 – Hon. Ryan R. Straughn, Minister in the Ministry of Finance, Economic Affairs and Investment in the Government of Barbados officially assumed the role of Co-Chair of the Global Shield...
Ghana purchases its first drought insurance policy from ARC
17.10.2024
Johannesburg, Frankfurt, Bonn, 17 October 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...
Resilience in The Gambia Gains Momentum with Inaugural Global Shield Workshop
16.10.2024
Banjul, 16 October 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...
Strengthening Financial Resilience against Climate Risks in Tonga: Inaugural Global Shield Workshop Held
30.09.2024
Nuku’alofa, 30 September 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...
Launch of the Global Shield against Climate Risks in Madagascar
24.09.2024
Antananarivo, 24 September 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 Republic of the Marshall Islands Kicks Off First Global Shield In-country Dialogue
17.09.2024
MAJURO, 17 September 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...
Fiji Enhances Financial Preparedness for Climate and Disaster Risks
14.08.2024
SUVA, 14 August 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...
Strengthening Senegal’s Financial Resilience to Climate Change
23.07.2024
Joint press release of the Ministry of Finance and Budget of Senegal, the World Bank Group’s Disaster Risk Financing and Insurance Program, and the Global Shield against Climate Risks Access a French version of the...
Costa Rica hosts first Global Shield workshop in Latin America
16.07.2024
Joint press release of Ministerio de Hacienda de Costa Rica, Superintendencia General de Seguros de Costa Rica (Sugese), and the Global Shield against Climate Risks 15 July 2024, SAN JOSÉ – Costa Rica’s Ministry of Finance...
Pacific Island Countries to receive premium support from Global Shield
12.06.2024
Translating SMART Principles into Action The V20/G7 Global Shield against Climate Risks has provided a USD 10 million contribution to the Pacific Catastrophe Risk Insurance Company (PCRIC) via the Global Shield Solutions Platform – one...
Global Shield Board welcomes new group of beneficiary countries
22.04.2024
22 April 2024, WASHINGTON D.C. – Back-to-back with World Bank Group and International Monetary Fund Spring Meetings, the Board of the Global Shield against Climate Risks composed of representatives from both climate vulnerable and supporting countries,...
Strengthening Pakistan’s climate resilience through the Global Shield
07.12.2023
On the 16th and 17th of November 2023, Pakistan’s Ministry of Climate Change and Environmental Coordination (MoCC&EC) initiated the Global Shield In-Country Process by hosting a two-day multi-stakeholder consultation in Islamabad. The event was supported...
Launch of the Global Shield Programme for Resilient Risk Pools
05.12.2023
The Global Shield Programme for Resilient Risk Pools, a support mechanism of the Global Shield Solutions Platform was launched at the 28th United Nations Climate Change Conference, COP28, on 3 December 2023. In an effort...
Global Shield gains more momentum at COP28
02.12.2023
2 December 2023, DUBAI – The Global Shield against Climate Risks held a high-level event at COP28 today titled “Broadening Financial Strategies: Practical Approaches to Address Loss and Damage – The Global Shield against Climate Risks”....
Advancing Ghana’s Resilience: Highlights of the 2nd In-Country Stakeholder 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....
Global Shield holds first virtual board meeting ahead of COP28
21.11.2023
15 November 2023 – Ahead of COP28, the board of the V20 Finance Ministers and G7 initiative Global Shield against Climate Risks met virtually on November 15 to further scale up pre-arranged finance solutions to mitigate...
Linkages between Social Protection and Disaster Risk Finance
20.11.2023
There is a growing recognition that social protection systems need to evolve into adaptive frameworks, capable of offering supplementary support both before and after extreme weather events, such as droughts and hurricanes. In response to...
Global Shield Co-Chairs host meeting on Ghana’s best practices and way forward with 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...
UN Special Meeting on Loss and Damage highlights need for initiatives like Global Shield
21.09.2023
World leaders met at the United Nations Climate Ambition Summit in New York on 20th September 2023, with the goal of accelerating collaborative efforts among governments, corporate entities, financial institutions, municipal administrations, and civil society organisations...
First In-Country Consultations pave the way for Global Shield support in Ghana
07.07.2023
On 5th and 6th July 2023, the Government of Ghana, Chair of the Vulnerable Twenty (V20) Group of Finance Ministers and the Climate Vulnerable Forum, kicked off the Global Shield In-Country Process in Ghana by...
