CARE signs onto InsuResilience Global Partnership, but pushes for focus beyond insurance for the world’s poorest and most vulnerable

InsuResilience Global Partnership (IGP) launched at COP23 Tuesday, Nov 14

Bonn, Germany. CARE International has endorsed the Joint Statement on the InsuResilience Global Partnership (IGP), but has reservations on the future direction of the Partnership. The IGP emerged from the G7 InsuResilience, an initiative that aims to provide up to 400 million in developing countries with access to insurance coverage by 2020. The IGP aims to strengthen the resilience of developing countries and protect the poor and vulnerable from the impacts of disasters.

“The IGP has the potential to increase the protection of people facing the devastating impacts of disasters, but it is critical that its mandate does not only promote climate insurance. The Partnership must provide a strong role in helping countries explore a wider range of climate disaster risk finance instruments and support risk reduction planning for broader resilience.”

Sheri Lim, Climate Change Advisor, CARE International UK

CARE has engaged in consultations leading up to the launch of the initiative. As many details in the IGP still need to be developed, CARE will continue to engage in this discussion on different levels.

“We share the Partnership’s objectives to help countries better prepare for climate and disaster risk, but the IGP must ensure that the needs of the poor and vulnerable remain the focus. It is essential that the partnership is accountable to people on the ground and that there is transparent consultation on its development. It is also clear that such welcome initiatives cannot substitute a much needed decision at COP23 to start exploring innovative finance solutions which can generate truly additional finance to address loss and damage.”

Sven Harmeling, Global Advocacy Lead on Climate Change, CARE International