More co-ordinated efforts to insure assets and people in regions where hurricanes, volcanic activity and tsunamis are more frequent, has just been announced. Here’s the word from the Centre for Disaster Protection;
The Centre for Disaster Protection (the Centre) is excited to announce that it has been selected as the Coordinator for the Technical Advisory Group (TAG) of the Global Shield against Climate Risks (Global Shield). In this significant role, the Centre will collaborate with a group of experts supporting climate vulnerable countries to access tailor-made, high-quality Climate and Disaster Risk Finance and Insurance (CDRFI) support packages from the Global Shield. This approach strongly aligns with the Centre’s mission to prevent disasters devastating lives, by helping people, countries, and organisations change how they plan and pay for disasters.
Launched at COP27 in Sharm El-Sheikh in November 2022 by the Vulnerable Twenty Group (V20), the Group of Seven (G7), and other supporting countries, the Global Shield aims to offer better protection against climate and disaster-related risks for vulnerable people and countries.
The TAG will support countries by crowding in perspectives of diverse group of experts to review key documentations stemming from the In-Country Process (ICP) to ensure comprehensive protection packages meet the needs of the most climate vulnerable. This also involves providing on-demand advice to the Coordination Hub, to donors of the Financing Structure and the Global Shield Board. It will set quality standards; ensure transparency and review specific requests resulting from discussions in countries. Additionally, it will work with regional organisations and initiatives to bring in local expertise as needed and analyse funding gaps, providing recommendations to strengthen requests.
Sophie Evans, the Centre for Disaster Protection Associate Director Advisory, said:
“The Centre is committed to working in partnership across sectors and geographies to drive more impactful and more equitable disaster risk finance that leaves no one behind. We are looking forward to bringing proactive expertise to the Centre’s new role as Coordinator of the Technical Advisory Group.
Our primary focus will be on coordinating technical reviews of country requests and supporting the in-country process. In line with our values, and commitment to communicating emerging lessons, good practice, and guidance, reviews would be made public in consultation with the Global Shield Secretariat. Collaborating with the Global Shield Secretariat, we will harness the advisory group’s expertise, ensuring inclusion of valuable country-specific experience. Additionally, the Centre will lead the Monitoring, Evaluation and Learning component to strengthen the In-Country Processes and help make the Disaster Risk Finance solutions more effective and accountable.”
Dr Astrid Zwick, Global Shield Secretariat Co-Director for Implementation and Institutional Development, highlighted:
“With the Centre for Disaster Protection as Coordinator of the Technical Advisory Group, the Global Shield gains an active and committed partner in supporting climate vulnerable people and countries in their efforts to receive protection against the severe impacts of climate change. Global Shield countries will benefit from the Centre’s expertise as they bring together a diverse group of experts to provide impartial advisory and quality assurance to the In-Country Process and the Request for CDRFI Support. The Global Shield Secretariat is looking forward to continuing the close collaboration with the Centre to support climate vulnerable countries in addressing climate risks through pre-arranged finance.”
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