UNDP at the Science Summit - Powering Resilient Ecosystems and Communities with Science

UNDP’s Insurance and Risk Finance Facility is participating in the Science Summit at UNGA79 session Powering resilient ecosystems and communities with science.

Time: September 25, 2024 | 16:00 – 17:30

Location: Science Summit Venue (2nd floor)

Registration: Register at Science Summit at UNGA79 and choose “Powering Resilient Ecosystems and Communities with Science” on September 25 to join the event online or in person.

Climate change and nature loss threaten lives, employment, and economic growth, negatively impacting global financial resilience and investment flows. This Science Summit Event will explore how scientific advancements in data analytics, risk assessment and predictive modelling can be leveraged to develop insurance products that incentivize the protection of nature and investments in climate adaptation. Nature-related insurance solutions can also make a meaningful contribution to the delivery of the Kunming-Montreal Global Biodiversity Framework, which highlights the need for both private and public financial actors to explore innovative financing mechanisms to tackle biodiversity loss. This event will convene senior speakers from the science, insurance and development communities to share expertise and insights on how the nexus of science, data and financial instruments are incentivizing the protection of nature, on which 50% of the global GDP is highly dependent. 

Session Objectives

1. Examine the role of science, technology and data in understanding the value of nature and how it underpins financial resilience in a world of risks, hazards and shocks. 
2. Develop a call to action for the scientific, development and insurance communities, as well as policymakers, to protect nature by harnessing insurance and risk transfer solutions and make science-backed financial resilience a reality for developing countries. 
3. Discussion that leads to actionable recommendations for how the science, insurance, and development communities can develop insurance solutions that incentivize the protection of nature and investments in climate adaptation, while building long-term financial resilience.
4. Inform the forthcoming Financing for Development Summit (FfD4) which will take place in Seville, Spain on 30 June 2025)

Speakers

About UNDP IRFF

UNDP’s Insurance and Risk Finance Facility is charting new pathways to build resilience, incentivize growth and safeguard development. Housed within UNDP’s Sustainable Finance Hub, the Facility is active in 34 countries, where it uses insurance and risk transfer to increase the financial resilience of countries, communities, households, businesses, nature and food systems.

About Science Summit

The Science Summit during UNGA79 is a hybrid event offering a dynamic blend of online and in-person sessions in the vibrant setting of New York City.

The role and contribution of science in attaining the United Nations Sustainable Development Goals (SDGs) will be the central theme of the Science Summit. The objective is to enable science collaborations to demonstrate how science supports the attainment of the UN SDGs and Agenda 2030.

Last  year’s summit successfully featured an impressive array of 400 sessions, 1,700 speakers, and attracted 12,000 attendees.