#ADVOCACY The Insurance Development Forum at COP29
Insurance Development Forum
Driving greater resilience for people and societies vulnerable to disasters and their associated economic shocks.
At COP29, the Insurance Development Forum (IDF) is advocating for the vital role of insurance in building global resilience to climate risks. Engaging with world leaders, industry experts, and international organisations, the IDF will advocate for innovative insurance solutions that can unlock capital, accelerate climate adaptation, and strengthen disaster risk resilience, especially in vulnerable communities.?
By leading key events in Baku, collaborative panels, and strategic partnerships, the IDF aims to highlight how insurance and insurance-like methodologies can protect those most exposed to the impacts of disasters, and drive financial flows into critical solutions.?
Here is a snapshot of the events the IDF is convening and supporting at COP29:
Insurance Implementation Lab – The Role of the Insurance industry in Unlocking Capital
Date: 14 Nov 2024 16:00-17:30 AZT
Location: Room 2, Marrakech Partnership for Global Climate Action, COP29
Organisers: Insurance Development Forum , Ambition Loop , and High-Level Climate Champions
Objectives: The Marrakech Partnership for Global Climate Action at COP29 Implementation Lab will explore how insurance can de-risk and accelerate the delivery of 2030 Climate Solution Roadmap goals. Key solutions, barriers, and opportunities will be discussed, with real case studies illustrating contributions to more ambitious NDCs and NAPs. The session will also address how insurance can support those most vulnerable to climate volatility while identifying the actions required for the sector to operate at the necessary speed and scale.
Insurance Development Forum Representation: Rowan Douglas CBE , Chair of Insurance Development Forum Operating Committee and CEO Climate Risk & Resilience, Howden, Junaid Ahmad, VP Operations, MIGA, Member of The World Bank Group .
Registration: [In Person Only] https://docs.google.com/forms/d/e/1FAIpQLScZq1v_RdVjiY0sLB95YOlrP_ycEJLBT5iHy3ReijgQyZWxGA/viewform
Resilient Planet Initiative (RPI) Implementation Lab: Democratising Data and Mobilising Finance for Adaptation
Date: 15 Nov 2024, 14:00 - 15:30 AZT
Location: Room: Hirkan, Marrakech Partnership for Global Climate Action, COP29, Baku, Azerbaijan
Organisers: Insurance Development Forum ,? 英国牛津大学 , the United Nations Office for Disaster Risk Reduction (UNDRR) , High-Level Climate Champions and other partners of the Race to Resilience.
Objectives: The Marrakech Partnership for Global Climate Action at COP29 Implementation Lab will bring together stakeholders from various institutions and backgrounds to discuss the importance of open data for financing adaptation, how local needs can be better represented in adaptation decision making, and how digital platforms can help mobilise finance at scale for adaptation.
The Resilient Planet Data Hub was convened by the @UN Office for Disaster Risk Reduction, the Insurance Development Forum , and the 英国牛津大学 . As a cross-sector group with a common view on the critical need to guide resilience policy and capital decision-making. Under the original umbrella of the Global Resilience Index Initiative (GRII), the RPDH aims to fix the information gap using open data approaches, supported by guidance and decision tools, building a common language of risk for all.
Registration: [In Person Only]?
Climate Risk Insurance: How Public Development Banks (PDBs) and Insurers Can Better Combine Expertise and Tools to Strengthen Resilience in the Global South
Date: 15 Nov 2024, 11:00 - 12:30 AZT
Location: IDFC Pavilion, COP29, Baku, Azerbaijan
Organisers: AFD - Agence Fran?aise de Développement
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Theme: This session will explore how public development banks (PDBs) and insurers can collaborate to close the protection gap in the Global South. Key topics include de-risking mechanisms, the Integrated Disaster Risk Management Alliance (IDRIMA) initiative for collaboration, and innovative financial stability solutions to encourage private sector engagement.?
IDRIMA is a unique strategic partnership aiming to strengthen the long-term resilience of sovereign, sub-sovereigns and public utilities in the Global South to the impacts of climate disasters through comprehensive financial solutions, combining the expertise of Development Finance Institutions (DFIs), Public Development Banks (PDBs), and insurers.
Insurance Development Forum Representation: Ekhosuehi Iyahen , Rowan Douglas CBE
COP29 Roundtable Event at the Swedish Pavilion
Date: 14 Nov 2024, 13:00-14:30 AZT
Location: Swedish Pavilion, COP29 Blue Zone, Baku Olympic Stadium, Baku, Azerbaijan
Host: H.E. Mattias Frumerie, Swedish Climate Ambassador
Insurance Development Forum Representation: Rowan Douglas CBE
Focus: Addressing innovative approaches to climate risk and reward principles in investment, aiming to unlock capital for green technologies. Registration link: [In person only]
Panel on Public Finance and Disaster Risk Integration
Date: 12 Nov 2024, 16:45-18:00 AZT
Location: Coalition for Disaster Resilient Infrastructure (CDRI) Pavilion, COP29
Theme: This panel will explore how public finance can incorporate disaster risk into development and financial planning to advance climate adaptation.
Insurance Development Forum Representation: Rowan Douglas
UK COP29 Panel – Resilient Islands: Tailoring Finance for Small Island Developing States (SIDS)
Date: 13 Nov 2024, Morning
Location: UK Pavilion, COP29 Blue Zone
Objectives: This UK-led event will focus on improving climate finance access for SIDS, discussing innovative financing and disaster risk finance solutions to enhance resilience.
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