New Grantham Research Institute working paper with inputs from Kulima-“Insurance as a catalyst for government climate planning?”

The Centre for Climate Change Economics and Policy and the Grantham Research Institute on Climate Change and the Environment have just released a new working paper from the UMFULA project with inputs from Dr Katharine Vincent. The paper, Insurance as a catalyst for government climate planning? A framework for analysing drivers and barriers, tested against evidence emerging from Sub-Saharan Africa, explores how climate risk information emanating from insurance processes can support a move towards anticipatory climate risk management. Using information from insurers in Africa, as well as case studies of different types of insurance in Malawi, Tanzania and South Africa, it presents the underpinning political economy factors that influence the process of climate information uptake, highlighting that the clear scope for dynamic interaction between insurers and users can face many challenges that go beyond availability and suitability of data. These challenges include limited trust, unclear risk ownership or lack of incentives, even if there is motivation, risk-awareness and overall buy-in into the need to manage climate risks. All three cases show the importance of sustained engagement and capacity building to increase awareness of the role of insurance-related climate risk information and its potential benefits and uses.

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