G7 Insuresilience Initiative On Climate Risk Insurance

EDM number 1318 in 2015-16, proposed by Caroline Spelman on 23/03/2016.
Categorised under the topics of Climate change, Financial services and International development.

That this House understands poverty reduction among vulnerable people and countries in the developing world to be seriously jeopardised by extreme weather events, such as major droughts, storms and floods, which are being intensified and made more frequent by climate change; highlights the importance of insurance as a mechanism to transform climate risk management approaches and to build resilience to climate shocks amongst the poorest communities; commends the development of innovative climate risk insurance tools, such as weather-indexed microinsurance, and recognises the potential of microinsurance to provide a safety net, foster financial inclusion and secure poverty reduction; and supports the G7 InsuResilience Initiative, which aims to deliver climate-related protection to an additional 400 million poor vulnerable people by 2020 through a mix of indirect and direct approaches.

This motion has been signed by a total of 26 MPs.