Unleashing Regional Resilience through
the Global Shield Programme for
Resilient Risk Pools
3rd December 2023
16:00 to 17:30 (GMT + 4)
CARICOM Pavilion | Blue Zone | COP28
The objective of the side event is to launch the Global Shield Programme for Resilient Risk Pools as the first Thematic Window of the Global Shield Solutions Platform.
This event is strategically designed to raise awareness and to delve into the synergistic partnership between the transformative Global Shield against Climate Risks, the Global Shield Solutions Platform, and the Regional Risk Pools, emphasizing their united commitment to strengthen and to ultimately benefit vulnerable countries and their financial resilience to climate and disaster risks. The event is hosted by the Global Shield Solutions Platform and the Regional Risk Pools and supported by the Global Shield Secretariat.
It offers a unique platform to ignite insightful discussions on the Global Shield Solutions Platform with a focus on Regional Risk Pools. Through this newly established Thematic Window, the Regional Risk Pools will be able to significantly amplify their endeavours, broaden their impact and bolster their work in developing climate and disaster risk finance products in order to protect countries against the impacts of natural disasters. The event will also support raising awareness and enhance public knowledge on the important work of the Regional Risk Pools as well as the Global Shield Solutions Platform and the Global Shield. Their work illustrates what global efforts to address climate-related losses and damages can look like.
The Global Shield Solutions Platform is one of the three Global Shield Financing Vehicles. Its work focuses on promoting the development of innovative and improved financial solutions and on fostering climate and disaster risk understanding and management capacities in vulnerable countries.
Regional Risk Pools are a central part of the global disaster risk finance architecture. They provide climate-vulnerable countries with financial protection at reasonable costs through sovereign parametric insurance products. Current regional risk pools include the African Risk Capacity (ARC), CCRIF SPC (formerly The Caribbean Catastrophe Risk Insurance Facility), the Pacific Catastrophe Risk Insurance Company (PCRIC), and the Southeast Asia Disaster Risk Insurance Facility (SEADRIF).