Global Shield & Regional Risk Pools
Global Shield supporting Regional Risk Pools as effective partners in supporting transboundary services to fragile and climate-vulnerable countries
16 November 2024
11:15 – 12:45 (GMT+4)
Climate, Peace & Transboundary Resilience (ODI) Pavilion | COP29
Co-hosted by the Global Shield Secretariat & Global Shield Solutions Platform (GSSP)
It has been almost a year since the launch of the Global Shield Thematic Window for Regional Risk Pools (GSRRP) at COP28 and more than a year since the signing of the joint Memorandum of Understanding (MoU) among the Regional Risk Pools (RRPs). COP29 is a timely opportunity to highlight the progress of the work, delve into the impact of each RRP, and inform partners and supporters on the way forward.
This event aims to:
- provide an update on the progress and insights so far from the GSRRP Thematic Window
- showcase to countries and donors the impact that RRPs have been making in their respective regions and serving fragile and climate vulnerable member states
- signal a commitment to a joint way forward
During the event, the RRPs, including:
- African Risk Capacity (ARC Group),
- CCRIF SPC (formerly The Caribbean Catastrophe Risk Insurance Facility),
- Pacific Catastrophe Risk Insurance Company (PCRIC), and the
- Southeast Asia Disaster Risk Insurance Facility (SEADRIF),
will each demonstrate the impact and unique value position of the RRPs in strengthening the transboundary resilience of climate-vulnerable countries and populations in their region.
This will be followed by a discussion of the report on Regional Risk Pools: Optimisation Options for Risk Ceding and Retention (June 2024). This part will provide to the audience a longer-term perspective on the need to strengthen the regional risk pools leveraging transregional synergies via a global platform to address the global challenges of climate change. The event will culminate in the signing ceremony for the joint request, which will reinforce the message to stakeholders that the RRPs are committed to pursuing a coordinated way forward in their mission to protect vulnerable countries.