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BEGIN:VEVENT
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DTSTART:20220622T090000Z
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SUMMARY:InsuResilience Global Partnership (IGP) Workshop Series (1) on Accessing Climate and Disaster Risk Finance Programs and IGP (2) Building Access to Sovereign Climate Risk Pooling
DESCRIPTION:[vc_row mobile_bg_img_hidden=”no” tablet_bg_img_hidden=”no” woodmart_parallax=”0″ woodmart_gradient_switch=”no” row_reverse_mobile=”0″ row_reverse_tablet=”0″ woodmart_disable_overflow=”0″][vc_column][vc_empty_space woodmart_hide_large=”0″ woodmart_hide_medium=”0″ woodmart_hide_small=”0″ woodmart_hide_extra_small=”0″][vc_column_text text_larger=”no”]\n1. Workshop on Accessing Climate and Disaster Risk Fianace Programs and the InsuResilience Global Partnership\nVirtually on Zoom at 9 am – 12 pm GMT, Wednesday, 22 June 2022[/vc_column_text][/vc_column][vc_column mobile_bg_img_hidden=”no” tablet_bg_img_hidden=”no” woodmart_parallax=”0″ woodmart_sticky_column=”false” parallax_scroll=”no” mobile_reset_margin=”no” tablet_reset_margin=”no”][vc_column_text text_larger=”no”]\nAbout InsuResilience Global Partnership\n[/vc_column_text][vc_column_text text_larger=”no”]The InsuResilience Global Partnership (IGP) was launched by the G20 and the Vulnerable Twenty (V20) Group of Ministers of Finance in 2017. As a V20-G20 co-led initiative, IGP brings together more than 110 members from governments, civil society, international organizations, private sector, and academia.\nIGP’s key objective is to strengthen the resilience of developing countries and to protect the lives and livelihoods of poor and vulnerable countries and communities against the adverse impacts of climate shocks and disasters. This is achieved by enabling faster, more reliable and cost-effective responses to disasters through Climate and Disaster Risk Finance and Insurance (CDRFI) solutions. Currently, there are over 300 InsuResilience country projects active in over 100 countries around the world.\nDue to the large number of projects and multiple types of financial instruments available, there is a need for clarity and awareness on the following aspects:\n\nWhat type of CDRFI solutions exist and how do they interact?\nHow to select the right combination of solutions given different types of climate and disaster risks?\nHow to access them via InsuResilience programmes?\nWhat kind of technical and financial support can these programmes provide?\n\n[/vc_column_text][vc_column_text text_larger=”no”]\nWhy is this workshop being organized?\n[/vc_column_text][vc_column_text text_larger=”no”]As climate change intensifies, per findings of successive IPCC AR6 reports, growing loss and damage due to insufficient adaptation responses and a 98% prevailing financial protection gap, is a fast emerging and major macroeconomic concern for the V20. Following the V20 Senior Officials Meeting in March 2022 and the V20 Ministerial Dialogue VIII, the implementation workshop aims to support access for V20 members.[/vc_column_text][vc_column_text text_larger=”no”]\nWhat are the objectives of the workshop?\n\n[/vc_column_text][vc_column_text text_larger=”no”]\n\nFacilitate a better understanding of CDRFI opportunities and limits.\nIntroduce IGP with a specific focus on implementation vehicles that can support V20 members in reducing the financial protection gap.\nProvide information on how to access the array of offers and programmes under the InsuResilience Global Partnership.\n\n[/vc_column_text][vc_column_text text_larger=”no”]\nWho is this workshop aimed at?\n\n[/vc_column_text][vc_column_text text_larger=”no”]\n\nV20 member representatives and focal teams who would benefit from a better understanding of and access to CDRFI solutions under IGP\nCVF members interested in climate and disaster risk financing and insurance.\n\nOur hope is that this workshop will contribute to enhance the understanding of CDRFI solutions available under the IGP, increase V20 countries’ access to IGP’s offers as well as country-driven solutions and uptake.[/vc_column_text][vc_column_text text_larger=”no”]\nWho is this workshop aimed at?\n\n[/vc_column_text][vc_column_text text_larger=”no”]\n\nV20 member representatives and focal teams who would benefit from a better understanding of and access to CDRFI solutions under IGP\nCVF members interested in climate and disaster risk financing and insurance.\n\nOur hope is that this workshop will contribute to enhance the understanding of CDRFI solutions available under the IGP, increase V20 countries’ access to IGP’s offers as well as country-driven solutions and uptake.[/vc_column_text][vc_column_text text_larger=”no”]\n2. Workshop Building Access to Sovereign Climate Risk Pooling for all V20 Members\n– V20 Strategic Dialogue on Gaps and Priority Areas of Action\nVirtually on Zoom, 1:30 pm – 4:00 pm GMT, Thursday, 23 June 2022[/vc_column_text][vc_column_text text_larger=”no”]\nWhy is this workshop being organized?\n\n[/vc_column_text][vc_column_text text_larger=”no”]The protection gap, i.e. uninsured catastrophe losses as a share of total economic losses, is an overwhelming 98% in V20 economies. The last fifteen years have seen the emergence of several sovereign catastrophic risk pools, which can be a useful delivery mechanism to provide low- and middle-income countries with pre-arranged disaster risk finance. Sovereign risk pools have proven to enable essential public financial liquidity in case of disasters and – with a single instrument – provide for one of the biggest contributions to lowering the protection gap.\nThe uptake of sovereign insurance products is partly limited and the participation in regional risk pools remains out of reach for some countries. However, the uptake of sovereign insurance products is partly limited and the participation in regional risk pools (i.e. the number of policyholders and regular policy renewals) remains out of reach for some countries. Currently, 42 out of the 55 V20 members are eligible to access sovereign risk pools, with 13 countries that are not eligible to join any sovereign risk pools. In the context of the V20 members, for the policy year 2021/2022, however, only 18 V20 members purchased sovereign  insurance products.[/vc_column_text][vc_column_text text_larger=”no”]\nWhat are the objectives of the workshop?\n\n[/vc_column_text][vc_column_text text_larger=”no”]The objective is to urgently drive scale and quality of investment resources to close the financial protection gap.  Discussing the points below the dialogue will capture important perspectives towards promoting V20 interests in exchanges with the IGP Programme Alliance as well as general deliberations of the High-Level Consultative Group (HLCG) on reforms of the CDRFI architecture.\n\nExpansion of Product Offerings and Country Accessibility\nRisk Layering Practices\nMarket Building and Sub-National Risk Pooling\nBetter Risk Pool Coverage through Premium and Capital Support (PCS)\nSustained International Support and Joint Advocacy\n\n[/vc_column_text][vc_column_text text_larger=”no”]\nWho is this workshop aimed at?\n\n[/vc_column_text][vc_column_text text_larger=”no”]\n\nThe dialogue on sovereign climate risk pooling aims at key policy makers in V20 countries and representatives of regional risk pools.\n\n[/vc_column_text][vc_column_text text_larger=”no”]\n\n[/vc_column_text][vc_btn title=”Summary” link=”url:https%3A%2F%2Fclimate-insurance.org%2Fnews%2Fstrategic-dialogue-on-building-access-to-sovereign-risk-pooling-for-all-v20-members-with-risk-pools%2F%3Ffbclid%3DIwAR0UN7DpR1VIvrbB8wrT_6rpqgH070cKjiWdNYTOucd3V__bQJlkNrF70xI|target:_blank”][/vc_column][/vc_row][vc_row][vc_column][vc_separator][vc_column_text text_larger=”no”]Kindly register your participation in either of the workshops or both through the registeration link below.[/vc_column_text][/vc_column][/vc_row][vc_row disable_element=”yes” mobile_bg_img_hidden=”no” tablet_bg_img_hidden=”no” woodmart_parallax=”0″ woodmart_gradient_switch=”no” row_reverse_mobile=”0″ row_reverse_tablet=”0″ woodmart_disable_overflow=”0″][vc_column][vc_single_image image=”19134″ img_size=”full” alignment=”center” parallax_scroll=”no”][/vc_column][/vc_row][vc_row disable_element=”yes” mobile_bg_img_hidden=”no” tablet_bg_img_hidden=”no” woodmart_parallax=”0″ woodmart_gradient_switch=”no” row_reverse_mobile=”0″ row_reverse_tablet=”0″ woodmart_disable_overflow=”0″][vc_column width=”1/4″][vc_btn title=”Livestream in English” style=”flat” shape=”square” color=”blue” link=”url:https%3A%2F%2Fyoutu.be%2FoQCBWfFLPFc||target:%20_blank|”][/vc_column][vc_column width=”1/4″][vc_btn title=”Livestream in French” style=”flat” shape=”square” color=”blue” link=”url:https%3A%2F%2Fyoutu.be%2FgDuR787NhJg||target:%20_blank|”][/vc_column][vc_column width=”1/4″][vc_btn title=”Livestream in Spanish” style=”flat” shape=”square” color=”blue” link=”url:https%3A%2F%2Fyoutu.be%2FOgqPtbTSy6s||target:%20_blank|”][/vc_column][vc_column width=”1/4″][vc_btn title=”Livestream in Arabic” style=”flat” shape=”square” color=”blue” link=”url:https%3A%2F%2Fyoutu.be%2FG2Te4zTkRdM||target:%20_blank|”][/vc_column][/vc_row][vc_row disable_element=”yes” css=”.vc_custom_1625670296406{margin-top: 0px !important;border-top-width: 0px !important;padding-top: 0px !important;}” mobile_bg_img_hidden=”no” tablet_bg_img_hidden=”no” woodmart_parallax=”0″ woodmart_gradient_switch=”no” row_reverse_mobile=”0″ row_reverse_tablet=”0″ woodmart_disable_overflow=”0″][vc_column][vc_column_text text_larger=”no”]\n\nNON-SPEAKERS\n[/vc_column_text][vc_column_text text_larger=”no”]V20 Member Countries[/vc_column_text][vc_column_text text_larger=”no”]\n\nRepresentatives from Ministry of Finance, Vietnam\nRepresentatives from Ministry of Finance and Public Credit, Colombia\nRepresentatives from Ministry of Finance, Palestine\n\n[/vc_column_text][vc_column_text text_larger=”no”]G20 and Partners[/vc_column_text][vc_column_text text_larger=”no”]\n\nRepresentatives from Ministry of Economy and Finance, Republic of Korea\nRepresentatives from Ministry of FInance and Public Credit, Mexico\nRepresentatives from Ministry of Finance, Germany\nRepresentatives from Department of Treasury, United States\nUNEP FI Principles for Sustainable Insurance Initiative \nInternational Labour Organization\nG24 Secretariat\nWorld Resources Institute\n\n[/vc_column_text][/vc_column][/vc_row][vc_row disable_element=”yes” css=”.vc_custom_1636308600983{margin-top: 0px !important;border-top-width: 0px !important;padding-top: 0px !important;}” mobile_bg_img_hidden=”no” tablet_bg_img_hidden=”no” woodmart_parallax=”0″ woodmart_gradient_switch=”no” row_reverse_mobile=”0″ row_reverse_tablet=”0″ woodmart_disable_overflow=”0″][vc_column][vc_column_text text_larger=”no”]\n\nEVENT DESCRIPTION\n[/vc_column_text][vc_column_text text_larger=”no”]A spiralling, dual climate-Covid crisis has shaken vulnerable developing economies, undermined livelihoods and sustainable development progress, and generated unprecedented transnational financial upheaval with multiple penalties for the world’s poor and vulnerable groups. At the same time, weak delivery of international climate finance, unresolved carbon finance mechanisms under the Paris Agreement, and financing instruments that are ineffective at addressing challenges specific to systemically climate vulnerable economies hold back ambition are exposing the world economy to acute risks, fuelling uncertainty, and undermining trust and the global recovery.[/vc_column_text][vc_column_text text_larger=”no”]Overcoming such challenges on the road to UNFCCC COP26 is an urgent priority and targeted initiatives that promote action on managing macroeconomic risks, capital hurdles to climate action, bridging the financial protection gap, among other key climate finance challenges, also represent a significant opportunity to build back better.[/vc_column_text][vc_column_text text_larger=”no”]To contribute new momentum, the V20, led by Bangladesh, is convening “Climate Vulnerables Finance Summit” – the first intergovernmental finance summit led by economies systemically vulnerable to the global climate crisis. The Summit builds on the Midnight Survival Deadline for the Climate, spearheaded by the Bangladesh presidency of the Climate Vulnerable Forum (CVF) and V20, and contributes to over 70 nations revising their Paris Agreement national commitments, as well as the Climate Adaptation Summit 2021, the G7 Summit outcome for increasing climate finance and funding for climate change adaptation, and other recent pledges of strengthened climate responses from major and vulnerable economies and international financial institutions alike.[/vc_column_text][vc_column_text text_larger=”no”]Prepared and hosted by the V20, and co-hosted with the Global Center on Adaptation, the Summit will be headed by global leaders, includes ministerial roundtables, and will feature interventions by CVF Heads of State and Government, high-level representatives of key partners, and the V20 Ministers of Finance. Together with the United Nations, the IMF and development partners, the high-level dialogue aims to shape globally cooperative and South-South responses for fast-tracked resilience building efforts and bold new economic and finance actions and partnerships that are updated for the evolving realities of tandem climate and COVID pressures. The Summit likewise serves as a critical opportunity to showcase all that the most climate threatened nations have been facing and undertaking, while exploring appropriate and enhanced responses with the international community. An effective recovery and resilient and prosperous future demands global and regional economic and financial cooperation and institutions consistent with the needs, and supportive of the ambition, of the most vulnerable.[/vc_column_text][vc_column_text text_larger=”no”]The Summit will issue a Communique highlighting the key expectations of the vulnerable economies on global climate finance, cooperation with multi-lateral financial institutions, and COP26, as well as partnerships being advanced together with the V20, including:[/vc_column_text][vc_column_text text_larger=”no”]\n\nLaunch of the V20 Vision 2025 to underpin the direction of the V20 to reach key socio-economic growth outcomes together amid a climate-covid emergency;\nShaping of a V20 Climate Prosperity Recovery Agenda for the systematic and universal consideration of climate risk and to promote enabling assistance options including capacity development, crisis assistance and carbon financing;\nPresentation and partnership exploration on national “Climate Prosperity Plans” as strategic economic-climate-SDG investment and cooperation frameworks to advance V20 ambitions for resilience and prosperity at the economy-level – the Government of Bangladesh will present the Mujib Climate Prosperity Plan Decade 2030, named in honor of marking the birth centenary of the country’s Father of the Nation, Sheikh Mujibur Rahman;\nInnovative V20 financing initiatives including the Accelerated Financing Mechanism to address capital cost challenges, the Sustainable Insurance Facility and the InsuResilience Global Partnership to bridge the financial protection gap, and the new CVF & V20 Joint Multi-Donor Fund.\n\n[/vc_column_text][/vc_column][/vc_row][vc_row disable_element=”yes” css=”.vc_custom_1636308584084{margin-top: 40px !important;margin-bottom: 40px !important;}” mobile_bg_img_hidden=”no” tablet_bg_img_hidden=”no” woodmart_parallax=”0″ woodmart_gradient_switch=”no” row_reverse_mobile=”0″ row_reverse_tablet=”0″ woodmart_disable_overflow=”0″][vc_column][vc_custom_heading text=”Press Release and Communiqué” font_container=”tag:h2|font_size:18px|text_align:left|color:%233c6cb3″ google_fonts=”font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal”][vc_column_text text_larger=”no”]PRESS RELEASE: Vulnerable economies call rich nations to avert global climate-COVID economic threat\nCOMMUNIQUÉ: 1st Climate Vulnerable’s Finance Summit Communiqué[/vc_column_text][/vc_column][/vc_row][vc_row disable_element=”yes” css=”.vc_custom_1636308591578{margin-top: 40px !important;margin-bottom: 40px !important;}” mobile_bg_img_hidden=”no” tablet_bg_img_hidden=”no” woodmart_parallax=”0″ woodmart_gradient_switch=”no” row_reverse_mobile=”0″ row_reverse_tablet=”0″ woodmart_disable_overflow=”0″][vc_column][vc_custom_heading text=”Download” font_container=”tag:h2|font_size:18px|text_align:left|color:%233c6cb3″ google_fonts=”font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal”][vc_column_text text_larger=”no”]V20-Vision-2025.pdf\nV20 Climate Prosperity Recovery Agenda.pdf[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_btn title=”Register Here” color=”success” size=”lg” align=”left” css_animation=”fadeIn” link=”url:http%3A%2F%2Fwww.v-20.org%2Fevent-form|title:event%20registeration|target:_blank”][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row]\n
URL:https://www.v-20.org/events/insuresilience-global-partnership-workshop-series-062022
CATEGORIES:featured events,Thematic
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