OECD Environment Working Papers

ISSN: 
1997-0900 (online)
http://dx.doi.org/10.1787/19970900
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This series is designed to make available to a wider readership selected studies on environmental issues prepared for use within the OECD. Authorship is usually collective, but principal authors are named. The papers are generally available only in their original language English or French with a summary in the other if available.
 

Climate Change Adaptation and Financial Protection

Synthesis of Key Findings from Colombia and Senegal You or your institution have access to this content

English
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Author(s):
Gisela Campillo1, Michael Mullan1, Lola Vallejo
Author Affiliations
  • 1: OECD, France

07 Apr 2017
Bibliographic information
No.:
120
Pages:
59
http://dx.doi.org/10.1787/0b3dc22a-en

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Developing countries are disproportionately affected by the rising trend of losses from climate-related extreme events. These losses are projected to continue to increase in future, driven by climate change and the accumulation of people and assets in high-risk areas. Effective climate change policies are needed to reduce the accumulation of risk, combined with instruments and tools to help retain, share or transfer financial losses if an extreme event occurs. These tools and instruments, collectively known as financial protection, can help people cope with the impacts of climate-related disasters, reduce costs of recovery and reconstruction, and encourage risk reduction. Linking financial protection and climate adaptation in development planning and policy has the potential to increase the resilience of affected communities.

This paper uses case studies of Colombia and Senegal to examine how countries are using financial protection as part of their approaches to managing climate risks. The paper identifies emerging

Keywords:
adaptation, insurance, risk management, climate change
JEL Classification:
  • F35: International Economics / International Finance / Foreign Aid
  • G22: Financial Economics / Financial Institutions and Services / Insurance ; Insurance Companies ; Actuarial Studies
  • H84: Public Economics / Miscellaneous Issues / Disaster Aid
  • O19: Economic Development, Innovation, Technological Change, and Growth / Economic Development / International Linkages to Development ; Role of International Organizations
  • Q54: Agricultural and Natural Resource Economics ; Environmental and Ecological Economics / Environmental Economics / Climate ; Natural Disasters and Their Management ; Global Warming
 
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