COP28 – Why do self-centered companies give their vendors climate insurance? (Event on the V20’s Sustainable Insurance Facility)

CVF-V20 events at COP28  

Wednesday, 6 December 2023

Why do self-centered companies give their vendors climate insurance?

Theme: Finance

Venue: Sri Lanka Pavilion, Blue Zone

Time: 1:30 pm – 2:30 pm

Co-hosted by the CVF/V20 Finance Ministers and UNEP FI PSI

Draft Version 16.11.2023

Overview

Micro, small, and medium enterprises (MSMEs) are unprepared for extreme weather, which now happens more often. This creates predictable significant costs to larger companies which rely on them to produce and sell goods, and/or repay loans. Data & technology have unlocked fast objective insurance solutions. It’s now a business decision for companies on how to protect their supply chains. This panel will discuss current examples of how & why corporates implement climate-smart insurance for MSMEs and levers to accelerate impact at scale.

Event objectives: 

The event will serve the following objectives:

  • Present the V20 Sustainable Insurance Facility & industry panel; and
  • Facilitate a comprehensive discussion on the V20 Sustainable Insurance Facility.

Key Outcomes:

The following outcomes are envisaged from the event:

  • Project examples from V20 Sustainable Insurance Facility;
  • Provide business case for corporates to help MSMEs access insurance;
  • Raise available support to accelerate scale; and
  • Address gaps.

Format & Participation:

60-minute, on record event in a workshop format chaired by Brandon Mathews, UNEP V20 SIF.

Participation in the meeting is open to the following delegations and representatives: 

  • Corporates
  • (re)insurers
  • public/private sector capital

Detailed program: 

Time Agenda Item Speaker
1:30 PM – 1:35 PM Opening Remarks Representative from the CVF/V20 Presidency, Government of Ghana
1:35 PM – 1:45 PM V20 SIF Project Examples and why companies undertake them Brandon Mathews, Global Coordinator of the V20 SIF
1:45 PM – 2:25 PM Panel discussion

Business case for climate smart insurance via governments, corporates, and nonprofits

Q&A

Moderator:

Brandon Mathews, Global Coordinator of the V20 SIF

Panelists:

  1. Sara Jane Ahmed, V20 Global Lead and Finance Advisors
  2. Francis Bouchard, Managing Director, Climate, Marsh McLennan (MMC)
  3. Dominic Probyn, Director, Data & Analytics Services, Aon
  4. Viktoria Seifert, Director, Disaster Risk Finance & Parametrics, WTW
2:25 PM – 2:30 PM Closing Remarks Hon. Ruwan Wijewardene

President’s Senior Advisor on Climate Change

Representative from the  Government of Sri Lanka

Key contacts

V20 Secretariat, secretariat@v-20.org

V20 SIF, brandon.mathews@un.org

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