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Author(s): Simon Jessop Kate Abnett

Climate vulnerable nations could get insured for $10 mln a year each -research

Source(s): Thomson Reuters
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A farmer shows off his rice harvest in Bangladesh
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  • Money would cover premiums for pre-arranged protection
  • Would provide cover of $200-$300 mln a year
  • To form part of climate damage fund talks at COP28

Wealthy nations could provide 100 of the world's most vulnerable countries a combined $25 billion in annual protection against climate disasters for as little as $10 million per nation, research published on Tuesday showed.

[...]

"This is massive, because there is the preconception that these countries are untouchable," Dr Ana Gonzalez Pelaez, lead author on the study, which was shared exclusively with Reuters ahead of publication. "Actually, we do have the figures that show that they can be insured," she said.

[...]

Donor funds of $10 million per recipient country, when used as premium support, could yield $200 million to $300 million per country in pre-arranged annual protection, for a combined $25 billion if rolled out across 100 countries, the researchers said.

[...]

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Themes Climate change Governance Insurance and risk transfer

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