Opportunities for Strengthening Resilience by Integrating Climate and Disaster Risk Finance and Insurance (CDRFI) in National Adaptation Plan (NAP) Processes
Climate and disaster risk finance and insurance (CDRFI) solutions can play an essential role in climate change adaptation, enabling governments, businesses, and individuals to protect their financial security in the event of shocks and providing information and incentives for improved management of risks.
National Adaptation Plan (NAP) processes will guide investments in adaptation over the coming years, whether from domestic budgets, the private sector, or international climate finance. Having CDRFI solutions better reflected in NAP processes will increase awareness of the role of these financial tools in a country’s adaptation journey while providing a basis for quickly and effectively scaling up such solutions.
The analysis presented in this report provides a better understanding of the ways in which countries are integrating CDRFI solutions in their efforts to formulate and implement NAPs—as well as the missed opportunities. This is a result of collaboration between the NAP Global Network and the InsuResilience Global Partnership (IGP) to support better integration of CDRFI solutions within NAP processes. The analysis is based on a systematic review of two types of documents: NAP documents and a sample of NAP readiness proposals to the Green Climate Fund (GCF).
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