Project

Pacific Insurance and Climate Adaptation Programme

This project aims to support Pacific Small Island Developing States in their strategies and capacity-building for climate and disaster risk finance.

Date Published
26 Nov 2018
Expected Start Date
01 Jan 2021
Expected End Date
31 Dec 2025
Project Status
Active

Climate-induced disasters are the number one cause of displacement within countries in the last decade. More than 20 million people are forced to leave their homes each year. Pacific Small Island Developing States (PSIDS) make up seven of the ten countries facing the highest risk of internal displacement from extreme weather events. In a region already exposed to a variety of geophysical and climate hazards, the increased severity of the disasters as a result of climate change in the South Pacific region have disrupted economic and social progress as well as development gains. Despite the high exposure to natural hazards, most people in this region do not have any form of insurance protection.

The Pacific Insurance and Climate Adaptation Programme aims to improve the financial preparedness and resilience of Pacific Islanders towards climate change and natural hazards through the development and implementation of market-based meso- and microinsurance schemes. The programme will offer an option for the national and sub-national governments to consider subscribing to a ‘macro to micro’ scheme, where a government level insurance policy pays out to individuals, to support the most vulnerable segments. Fiji, Vanuatu, Tonga, Samoa, and the Solomon Islands will be covered under the multi-year programme.

Women, youth, and Micro, Small and Medium Enterprises (MSMEs) who are disproportionately affected by natural hazards will be the target segments of the programme. Heavily reliant sectors – agriculture, fisheries, retail and tourism will also be of focus. As part of UNCDF’s global strategy, Leaving No One Behind in the Digital Era, the programme will be working with the Pacific Digital Economy Programme to create digital payment solutions to reach Pacific Islanders in rural and remote areas. The Programme will also work together with governments and relevant stakeholders to develop customized Climate and Disaster Risk Financing strategies.

Related content

Report

Including Modern Slavery and Human Trafficking in National Money Laundering and Terrorist Financing Risk Assessments

Enhancing money laundering and terrorist financing inclusion in National Money Laundering and Terrorist Financing Risk Assessments (NRAs).

01 Dec 2023

Report

Detecting Financial Flows of Human Trafficking and Modern Slavery: A Guide to Automated Transaction Monitoring

Mobilizing the financial sector to enhance detection of modern slavery.

01 Dec 2023

Brief

Establishing an Agile Response Process to Crisis and Conflict-related Modern Slavery and Human Trafficking Risks

Risk identification and mitigation measures for financial institutions to address modern slavery.

01 Dec 2023