MCII
The Munich Climate Insurance Initiative (MCII) was launched in April 2005 in response to the growing realization that
insurance-related solutions can play a role in
adaptation to climate change
, as advocated in the Framework Convention and the Kyoto
Protocol. This initiative brings together insurers, experts on climate
change and adaptation, NGOs and policy researchers who intend finding
solutions to the risks posed by climate change.
MCII provides a forum and gathering point for
insurance-related expertise on climate change impact issues. MCII is hosted at UNU-EHS in Bonn, Germany.
MCII has four workstreams:
UNFCCC Climate Negotiations:
MCII actively participates in the UNFCCC Climate Negotiations and
submitted
a proposal on a comprehensive climate risk management
mechanism
that incorporates climate risk insurance and disaster risk
reduction
(DRR) as complementary elements in a climate adaptation
strategy.
The MCII proposal has facilitated a productive dialogue among
delegates
which lead to the incorporation of key elements of the
proposal
into the negotiation text.
Pilot Project:
MCII strives to engage in innovative endeavors that tackle the nexus of
climate
risk insurance, DRR and adaptation to climate change in order to
foster
the implementation of a comprehensive disaster risk management
mechanism
in developing countries.
Capacity-Building:
With its broad base of expertise from a variety of backgrounds, members
of
MCII seek to facilitate dialogue between policy makers, practitioners
and
academia on the objectives of the initiative.
Dissemination:
MCII provides background knowledge as well as progressive thoughts on
innovative
approaches in the field of climate risk insurance, DRR and
adaptation
climate change.
Key goals
MCII strives to fulfil four objectives:
Develop insurance-related solutions to help manage the impacts of
climate change.
Conduct and support pilot projects for the application of
insurance-related solutions, in partnerships and through existing
organizations and programmes. Identify success stories and disseminate
information about the factors that are necessary to design and implement
effective climate insurance-related mechanisms. The emphasis in such
actions will be on developing countries, while simultaneously evaluating
insurance designs that have been used in developed countries.
Promote insurance approaches in cooperation with other organizations and
initiatives within existing frameworks such as the United Nations
system, International Financial Institutions, international donors, and
the private sector.
Identify and promote loss reduction measures for climate-related events
Working methods
-
Networking with experts on insurance and climate change adaptation
-
Facilitating dialogue between delegates of the UNFCCC, policymakers and
MCII partners on the objectives of the initiative
-
MCII partners work on risk assessment, value at risk, exposure to natural
hazards & climate change, development, disaster risk management and
climate change adaptation
Related articles
-
05 August 2010
A group of academic who have been working with the United Nations University Institute for Environment and Human Security(UNU-EHS) and the Munich Climate Insurance Initiative (MCII) have called for diplomats attending the upcoming Bonn and Mexico climate talks and summit to take insurance into account.
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