"Bonn 16 December 2019 – The year 2019 once again proved challenging for many communities around the world who are living at the frontlines of climate change. Low-lying island states for example were hit by a number of weather events, including hurricanes, tropical storms, tsunamis, excess rainfall, drought, storm surge and wave impacts making it clear that the need for adaptation solutions is pressing.

“In addition to cutting emissions, we need to support the most vulnerable people with options to protect themselves against the impacts of more frequent and more intense weather events,” said Soenke Kreft, Director of the Munich Climate Insurance Initiative (MCII). “Climate risk insurance can be such a measure if it is applied within a mix of other disaster risk reduction strategies. While the field of climate risk insurance has made great advancements in the last decade, it is still considered as an innovation in the field of climate change, and as such, it can benefit greatly from more systematic approaches, enhanced knowledge sharing and networking between regions and among different actors.”

In a commitment to this, the United Nations University Institute for Environment and Human Security (UNU-EHS), the Munich Climate Insurance Initiative (MCII), the University of the South Pacific (USP), The University of the West Indies (UWI) and the United Nations Pacific Financial Inclusion Programme (PFIP) have established a research collaboration to facilitate inter-regional South-South learning and research."

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