A Concise Map of Stakeholders in Extreme Events and Climate Risk Management – The Geneva Association

ZURICH--(BUSINESS WIRE)-- Leading think tank of the international insurance industry, The Geneva Association, has today published a new tool, The Stakeholder Landscape in Extreme Events and Climate Risk Management. This map graphically illustrates the patterns of stakeholder engagement in the international framework agreements related to disaster risk reduction, climate change and sustainable development over the last five decades. It also displays the complex stakeholder landscape and multi-stakeholder initiatives in extreme events and climate risk management over the last decade and describes the major developments in expanding risk transfer and insurance. The map provides the reader with an overview of the key initiatives underway globally and serves as a valuable and concise primer on the key stakeholders in extreme event and climate risk management worldwide.

Since the 1950s, the UN and its institutions have been bringing the topics of disaster risk reduction, climate change and sustainable development to the forefront of international policy dialogue. In 2015 over 190 Member States adopted three international agreements:

i. The Sendai Framework for Disaster Risk Reduction (2015-2030) (United Nations General Assembly, 2015a);

ii. The 2030 Agenda for Sustainable Development (United Nations General Assembly, 2015b); and,

iii. The Paris Agreement (UNFCCC, 2015).

These processes have profoundly influenced how the issues of disaster risk reduction, climate change and sustainable development have been perceived and addressed by national governments over the last five decades. The convergence of these initiatives in 2015 has brought a new clarity and coherence to the global picture, enabling a more focused pathway for global development.

The UN facilitated international consultations and negotiations have brought together a wide range of stakeholders into these processes. Alongside the international agreements, a variety of different multilateral initiatives have been set up by a diverse range of stakeholders from the public and private sectors at the international, regional, national and local levels to find better ways to protect human lives and livelihoods, and reduce economic losses. These are categorised in the map under four main areas: (1) enhancing risk knowledge and risk assessment capacities, (2) promoting an integrated approach to managing disaster and climate risks, (3) initiatives and innovation in risk transfer solutions; and, (4) facilitate risk transfer solutions (or mechanisms) for the agriculture sector.

Dr Maryam Golnaraghi, Director of The Geneva Association’s Extreme Events and Climate Risk Programme said, “Proactive and integrated risk management is the only way to reduce the socio-economic impacts on our societies caused by our changing climate. Despite the evident progress, achievements, highly active multi-stakeholder engagement and related initiatives, these areas remain fragmented. The development of integrated, sustainable and scalable risk management practices will require stronger strategic public–private partnerships that leverage stakeholders' strengths, avoid redundancies and align priorities.”

Secretary General of The Geneva Association, Anna Maria D’Hulster said, “Each of the three framework agreements signed in 2015 have recognised, explicitly or implicitly, the important role of insurance in building economic resilience to extreme events and climate risks. As the key platform between the (re)insurance industry and the other international stakeholders involved in these agreements, The Geneva Association is playing a crucial role by developing critical insights, facilitating dialogue and enabling closer coordination between the private and public sector bodies that will address the increasing extreme events and climate risks.”

The stakeholder map is available here: https://goo.gl/Y6pxcT

View source version on businesswire.com: http://www.businesswire.com/news/home/20170112005622/en/

The Geneva Association

Anthony Kennaway
Communications Director

+41 789 20 56 77

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Isabel Barratt
Communications Manager

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Source: The Geneva Association