The 27th Conference of the Parties to the UN Framework Convention on Climate Change – COP27 – brings together heads of state, ministers and negotiators, along with climate activists, mayors, civil society representatives and CEOs in November 2022 in Sharm El-Sheikh, Egypt, for the largest annual gathering on climate action.
To support the aims of COP27 and raise climate ambition, the UN Environment Programme’s Principles for Sustainable Insurance Initiative (PSI), together with partner organisations, has put together a special PSI COP27 Sustainable Insurance Series comprised of in-person and online events highlighting the work of the PSI and its partners. The series of events will cover a range of topics including net-zero insurance, adaption and resilence, inclusive insurance, sustainable insurance roadmaps, and sustainability risk management.
Pre-COP27
2 November | Public Consultation on Version 1.0 of the NZIA Target-Setting Protocol
The Net-Zero Insurance Alliance (NZIA) launched public consultation on Version 1.0 of the Alliance’s first target-setting protocol with two public webinars.
Members of the NZIA Target-Setting Working Group explained the context and elements of the Protocol and answered questions from participants.
Speakers:
- Irene Lai, Group Head of Underwriting Governance, Sustainability and Standards, QBE (AM session)
- Sheri Wilbanks, Head of Group Risk Management P&C Climate & Sustainability, AXA (PM session)
- Hunter Bell Project Coordinator, SBTi
- Mischa Repmann, Senior Sustainability Risk Manager, Swiss Re
- Butch Bacani, Programme Leader, UNEP’s Principles for Sustainable Insurance Initiative
- Emily Banzet, Communications Officer, NZIA, UNEP’s Principles for Sustainable Insurance Initiative
During COP27
9 November | 10:30 CET (11:30 EET)| Financial Protection for MSMEs – Accelerating Solutions for Climate-Vulnerable Economies
Micro, small and medium-sized enterprises (MSMEs) are the backbone of many economies, particularly in developing countries. Intensifying climate change and the lack of insurance coverage for MSMEs in many developing countries is a major challenge and opportunity. This event will discuss challenges and financial protection solutions for MSMEs in climate-vulnerable economies through the work of the Vulnerable Twenty Group of Finance Ministers (V20) Sustainable Insurance Facility hosted by the PSI.
The session will take place at the Climate Vulnerable Forum Pavilion at COP27.
Speakers:
- Soenke Kreft, Executive Director, Munich Climate Insurance Initiative
- Krishanan Narasimhan, Pacific Insurance & Climate Adaptation Programme (PICAP), UN Capital Development Fund
- Brandon Mathew, Global Coordinator, V20 Sustainable Insurance Facility, UNEP’s Priniciples for Sustainable Insurance Initiative
- Sara Jane Ahmed, Financial Advisor, V20
9 November 2022 | 16:00 CET (17:00 CET) | Leveraging African insurance industry to create resilient African economies
This event will bring together African and global leaders across business, government and civil society to highlight the critical role of the African insurance industry in responding to climate change. The panel will discuss the PSI-supported Nairobi Declaration on Sustainable Insurance and the actions being taken by signatories, including a first-ever financial commitment by the African insurance industry to cover climate risks.
The session will take place at the Tonino Lamborghini International Convention Center at COP27.
Speakers:
- Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt
- Bogolo Joy Kenewendo, Africa Director & Special Advisor, UN Climate Change High-Level Champions
- Philip Lopokoiyit, CEO, ICEA Lion Group
- Dorothy Maseke, Group Head of Risk and Compliance, ICEA Lion Group
- Patty Karuihe-Martin, CEO, Nambia Re
- Lesley Ndlovu, CEO, African Risk Capacity
- Kelvin Massingham, Director, Risk and Resilience, FSD Africa
9 November 2022 | 16:15 CET | ESG and the Move Towards ‘Sustainable Insurance’ – Impact for Captive Owner and Future Influence for Industry
As part of the 2022 European Captive Forum, this session will discuss how captive insurance companies can develop strategies and approaches to address ESG risks and opportunities and drive positive impact.
This event will take place at the European Convention Center Luxembourg (ECCL).
Speakers:
- Ciaran Healy, Director- Client Solutions, Aon
- Antonio Nervini, Head of Insurance, ENEL Insurance N.V.
- Butch Bacani, Programme Leader, UNEP’s Principles for Sustainable Insurance Initiative
16 November 2022 | 9:00 CET & 15:00 CET | Virtual Launch of the PCAF Insurance-Associated Emissions Standard
The Partnership for Carbon Accounting Financials (PCAF) is hosting two virtual launch webinars for the PCAF Global GHG Accounting and Reporting Standard for Insurance-Associated Emissions developed in collaboration with the NZIA. The virtual launch webinar will feature a presentation on the first version of this PCAF Insurance-Associated Emissions Standard, including finalised attribution factors for commercial lines and personal motor portfolios.
Register here
Speakers:
- Ben Carr, Analytics and Capital Modelling Director, Aviva (AM Session)
- Sheri Wilbanks, Head of GRM P&C Climate & Sustainability, AXA (PM Session)
- Marco Tormen, Europe & DACHLI Lead and Responsible Project Manager, PCAF
- Martin Weymann, Head Group Sustainability, Swiss Re
- Daniel Eherer, Senior Sustainability Manager-Commercial Insurance, Zurich Insurance Group
17 November 2022 | 11:30 am EET | Financing Innovative Approaches to Protect Against Losses & Damages in Climate Vulnerable Countries
Support for climate and disaster risk management and financing instruments are needed by governments, businesses, and individuals to help them prepare for climate change and recover from extreme weather events. This event will showcase instruments to minimize and address loss and damage.
The event will take place in Side Event Room 5 – Memphis, Area A.
Speakers:
- Sönke Kreft, Executive Director, Munich Climate Insurance Initiative
- Barbara Schnell, Head of Sector Policy Development, KfW Development Bank
- Karlos Lee Moresi, Resilience Finance Development Program Advisor, Pacific Island Forum Secretariat (PIFS)
- Krishnan Narasimhan, Global Lead Specialist on Climate Risk Insurance, UN Capital Development Fund
- Sarah Kemmitt, UNEP FI on behalf of UNEP’s Priniciples for Sustainable Insurance Initiative
17 November 2022 | 17:30 CET (18:30 EET) | Launch of the California Sustainable Insurance Roadmap
This event will formally launch the California Sustainable Insurance Roadmap, the result of a multi-year partnership between the California Department of Insurance and the PSI. The roadmap covers both climate change mitigation and adaptation, from reducing GHG emissions and closing protection gaps for vulnerable communities; to keeping insurance available and affordable and protecting communities from climate threats.
The launch will take place at the “Pathways to 1.5” Pavilion at COP27. The event press release is available here.
Speakers:
- Ricardo Lara, California Insurance Commissioner
- Butch Bacani, Programme Lead Principles for Sustainable Insurance Initiative (joining remotely)
- Carolyn Kousky, Associate VP for Economics & Policy, Environmental Defense Fund
- Sona Mohnot, Associate Director, The Greenlining Institute
- Eric Riggs, Dean, College of Natural Resources and Sciences, Cal Poly Humboldt University
Post COP27
30 November | Progress Update on the V20 Sustainable Insurance Facility
In advance of the Geneva Association’s Inaugural Socio-Economic Resilence Conference at the Swiss Re Centre for Global Dialogue, the PSI will give a progress update on the V20 Sustainable Insurance Facility, which aims to develop a pipeline of insurance solutions for MSMEs in V20 countries.
The V20-SIF Project Office is hosted by the PSI and is funded by the German Federal Ministry for Economic Cooperation and Development (BMZ).
1 December | 11:00 CET | Building Socio-economic Resilience – A joint public-private responsibility?
This session is part of the Geneva Association’s Inaugural Socio-Economic Resilence Conference.
This event will take place at the Swiss Re Centre for Global Dialogue.
Speakers:
- Lesley Ndlovu, CEO, African Risk Capacity
- Line Hestvik, Chief Sustainability Officer, Allianz
- Ekhosuehi Iyahen, Secretary General, Insurance Development Forum
- Butch Bacani, Programme Leader, UNEP’s Principles for Sustainable Insurance Initiative (Chair)
- Sara Jane Ahmed, Finance Advisor, Vulnerable Twenty Group of Finance Ministers (V20)