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The Presidency Programme resumes today after yesterday’s break, and the focus is on adaptation, loss and damage as a result of the climate crisis.

Ways to reduce loss and damage from climate change include increasing resilience before the occurrence of an extreme weather or slow-onset event – for example, by strengthening flood defences – and establishing mechanisms to provide financial or social protection support to those who have already experienced losses and damage. Insurance is one important tool but is not affordable or accessible to all.

The Paris Climate Change Conference of Parties requested the Executive Committee to establish a clearing house for risk transfer that serves as a repository for information on insurance and risk transfer, in order to facilitate the efforts of Parties to develop and implement comprehensive risk management strategies.

The clearing house was launched at COP 23 and is named the Fiji Clearing House for Risk Transfer. It catalyzes action and support by non-state actors, especially from the insurance industry, by directly connecting those seeking assistance with those providing solutions, and by enhancing knowledge and understanding on risk transfer solutions in the context of climate risk management.

This topic is of particular interest to Small Island Developing States, which have been recognised as being particularly vulnerable to the impacts of climate change. These impacts include sea level rise, tropical cyclones, and marine heatwaves.

The international community must prioritise a collaborative approach to supporting those island territories most vulnerable to climate change, and implement financial action plans which help to protect and restore ecosystems. Other important aspects of adaptation include the building of efficient warning systems, proper infrastructure, and resilient agriculture.

The loss and damage that occurs when the devastating impacts of the climate emergency exceed the adaptive capacity of countries, communities and ecosystems is also under scrutiny today.

Key themes for COP26

MITIGATION

Secure global net zero and keep 1.5 degrees within reach.

ADAPTATION

Urgently adapt to protect communities and natural habitats.

MOBILISE FINANCE

Green transformation of financial systems.

COLLABORATION

Work together to deliver.

News and key insights

This week’s featured event

Wednesday 10 November – 10:00am EST, 15:00 GMT
Duration: 1.5 hours

There are a wide range of opportunities for sustainable development projects in the Caribbean region – but for them to be successful there needs to be greater access to finance. What projects are being unveiled in the region, and where can they source funding to support their vision? The Caribbean Climate-Smart Accelerator seeks to unlock financing for sustainable solutions in a bid to create the world’s first climate-smart zone. With climate adaptation and mitigation funding for island and developing nations set to be a core topic at COP26, now is the time to move towards action for the region.

Register for the webinar

Today’s Island-related events

Raising ambition at COP26 to deliver SDG14.3: to minimize and address the impacts of ocean acidification
Today

Time: 09:00 – 10:30
Location: Commonwealth Pavilion

👉 Click here to watch

Blue Carbon Conservation and Restoration in Action: Examples from the Commonwealth
Today

Time: 11:00 – 12:30
Location: Commonwealth Pavilion

👉 Click here to watch

Smallholder Digital Climate Advisory Services: Policy Implications for Data Infrastructure
Today

Time: 12:30 – 02:00
Location: Commonwealth Pavilion

👉 Click here to watch

See the full agenda

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