Insurance and Risk Finance at UNGA 79 and Climate Week NYC 2024

Hundreds of world leaders, policymakers, experts and advocates from around the world will soon descend on New York City for the 79th session of the United Nations General Assembly (UNGA 79) and Climate Week NYC.

We are in an era of urgency. Countries, communities and businesses are waking up to the fact that we need to act faster, as the costs and effects of interconnected global crises and risks continue to mount.

UNDP’s Insurance and Risk Finance Facility believes that a new era of cooperation and bold public-private partnerships can effectively tackle immediate and emerging challenges as well as those that may yet be over the horizon. Our experts Jan Kellett and Lauren Carter will be in New York contributing to how insurance can be used to protect and even prevent devastating global challenges. From helping business and governments understand and financially manage increasingly complex risk landscapes, to de-risking the trillions in investment needed to accelerate a just climate transition and scaling financial inclusion efforts that ensure economic growth leaves no one behind.

UNDP’s Insurance and Risk Finance Facility (IRFF) is supporting and participating in a range of discussions to accelerate financial resilience in partnership with governments and the insurance industry:

Powering Resilient Ecosystems and Communities with Science | September 25th 2024, 16:00 – 17:30 EST

This Science Summit Event will deepen understanding of the synergy between science and insurance, emphasizing how scientific advancements in data analytics, risk assessment, and predictive modeling, can be leveraged to improve insurance products and policies. In particular, the session will focus on how these tools interact with and incentivize the financial protection and resilience of nature - upon which 50% of global GDP is highly-dependent.

Register to join leading insurance, finance, nature experts, climate and actuarial scientists, policymakers and innovators for a dynamic discussion and valuable insights into the current state and prospects of science-driven insurance, offering practical examples and lessons learned from real-world applications.

Find out more and register to attend this session in person or online

Strengthening SMEs and Global Supply Chains for a Climate-resilient Tomorrow | 26th September, 14:00 - 15:30 EST

Join the discussion and debate on public-private actions that are building the financial resilience of Small and Medium Enterprises (SMEs) facing rising climate-related risks and hazards. The event will spotlight innovative strategies, resilient practices and concrete solutions to strengthen global supply chains and the SMEs across the world. Experts, industry leaders and policymakers will come together to explore the intersection of sustainability, entrepreneurship and resilience, forging partnerships that pave the way for a resilient, climate-smart future for all.

Co-hosted by the Permanent Mission of Italy to the United Nations and Generali, supported by UNDP’s Insurance and Risk Finance Facility.

Livestream link available shortly

De-risking the Sustainable Food System Transition | 24th September 2024, 14:00-16:00 EST Invitation Only

This roundtable event is co-hosted by Pollination, supported by UNDP’s Insurance and Risk Finance Facility, with partners from the insurance industry, public sector, investment, technology and innovation. The aim of the event is to share expertise and learnings drawn from active projects seeking to derisk the sustainable food transition and improve the financial resilience of agri-SMEs, farmers and food systems. Thank you to Zurich Insurance Group for hosting the roundtable at their New York offices.

Ocean Risk and Resilience Action Alliance Member Meeting | 25th September 2024, Invitation Only

UNDP has played a fundamental role in the development and build-out of the Alliance since its inception. It has been a member of our Steering Council and became an Institutional Partner in 2022. ORRAA will be hosting their second Member Meeting on the sidelines of UNGA79, bringing together over 90 members to highlight progress, test new ideas, problem-solve, and bring some of the best brains in the business around the table to scale blue finance and investment into a regenerating and sustainable ocean.

From Scaling Solutions to Creating Resilience at Scale | 26th September 2024, Invitation Only

This event will bring together key decision-makers from the policy and investor communities to address the ‘elephant in the room’ in the climate crisis: how to massively scale people’s resilience to achieve food, water and energy security. Hosted by Pegasus Capital Advisors with representation from UNDP's Insurance and Risk Finance Facility, stakeholders will discuss how we can create resilience for people and planet with solutions at scale, including the role of investors and insurance companies.

Advancing Strategic Alliances: Leveraging Private Sector Strength in the Global South | 27th September 2024, Invitation Only

This side event is co-organized by Islamic Development Bank Group (IsDB), UNDP and UN Office for South-South Cooperation (UNOSSC). This event will showcase concrete examples on how private sector engagements in South-South and triangular cooperation (SS&TrC) can create win-win scenarios that strengthen multi-stakeholder ownership and commitment. These engagements benefit companies, the economies and communities of the countries involved, and the broader global community.

Relevant Resources:

• Building Climate Resilience Through Takaful
• Insuring Nature to Reduce Risk Report
• Insurance and Risk Finance Country Diagnostics
• Advancing Smallholder Farmers’ Resilience and Adaptation to Climate Change

Contact us for more information:

Ceandra Faria

Strategic Communications and Engagement Specialist

ceandra.faria@undp.org