{"id":6962,"date":"2023-10-30T06:45:01","date_gmt":"2023-10-30T06:45:01","guid":{"rendered":"https:\/\/infundpros.com\/business\/insurer-body-plans-infrastructure-fund-for-climate-hit-economies\/"},"modified":"2023-10-30T06:45:01","modified_gmt":"2023-10-30T06:45:01","slug":"insurer-body-plans-infrastructure-fund-for-climate-hit-economies","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=6962","title":{"rendered":"Insurer body plans infrastructure fund for climate-hit economies"},"content":{"rendered":"<div>\n<p>Stay informed with free updates<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Simply sign up to the <!-- -->Climate change<!-- --> myFT Digest &#8212; delivered directly to your inbox.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=c9e22cd4-22a7-4916-9e02-4facd31670e2&amp;concept-id=24ad2c58-14fb-4217-b6f7-7ef88ac51375\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>The Insurance Development Forum, a World Bank and UN-backed partnership of insurers and international bodies, plans to raise an infrastructure fund of hundreds of millions of dollars to help developing countries deal with the effects of climate change.<\/p>\n<p>Speaking to the Financial Times ahead of next month\u2019s COP28 climate summit in Dubai, IDF secretary-general Ekhosuehi Iyahen said the fund would seek to help those countries already \u201cfeeling the brunt\u201d of climate change.<\/p>\n<p>\u201cMany around the world are having to deal with the impact of climate change already,\u201d she said. \u201cThere is an urgency to deal with that.\u201d The objective was to fund \u201cresilient and sustainable infrastructure in emerging and developing economies\u201d, she added.<\/p>\n<p>Global efforts to combat climate change have faced setbacks in recent months as some governments temper their transition plans and industry initiatives to collaborate on net zero policies have met political opposition. <\/p>\n<p>Michel Lie\u0300s, chair of the IDF\u2019s steering committee and of insurance group Zurich, said the climate summit would be an opportunity to spread the message that it would be better to spend money on prevention measures ahead of time, \u201cinstead of waiting for the catastrophe to happen, waiting for the terrible news on the TV\u201d.\u00a0<\/p>\n<figure class=\"n-content-image n-content-image--full\"><picture><source media=\"(min-width: 700px)\"  width=\"2289\" height=\"1526\"><\/source><source media=\"(max-width: 490px)\"  width=\"1527\" height=\"1527\"><\/source><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/https:\/\/d1e00ek4ebabms.cloudfront.net\/production\/dcb40208-21fa-48e1-995c-7805c8a22322.jpg\" alt=\"Michel Lie\u0300s\" data-image-type=\"image\" width=\"2289\" height=\"1526\"><\/picture><figcaption class=\"n-content-picture__caption\"><span>Michel Lie\u0300s said it was more efficient to spend money before a disaster than after<\/span><span> <!-- -->\u00a9 Anthony Kwan\/Bloomberg<\/span><\/figcaption><\/figure>\n<p>He said it was considerably more efficient to spend money before a disaster than after and that\u00a0the fund, backed by insurers, would be designed as an infrastructure debt fund and start off at a few hundred million dollars.\u00a0<\/p>\n<p>Lie\u0300s said there was a need to bring \u201cneutrality and objectivity\u201d to the climate discussion, and that the insurance industry could provide that through its expertise in the modelling and pricing of risk. \u201cThe debate is becoming tense, which doesn\u2019t make the debate much more efficient,\u201d he added. <\/p>\n<p>The IDF, which was launched at the Paris climate summit in 2015, draws on a broad membership, from insurers, reinsurers and insurance brokers to regulators and international institutions such as the World Bank. <\/p>\n<p>The chances of the world limiting the rise in global temperatures to 1.5c since pre-industrial times to prevent irreversible consequences to the planet have dwindled, experts say, as greenhouse gas emissions continue to rise. <\/p>\n<p>The question of how to fund adaptation to extreme weather events, including widespread changes to the way land and buildings can be used, has been drawing increasing attention.\u00a0<\/p>\n<p>But discussions over a so-called \u201closs and damage\u201d fund to help poorer countries suffering from the consequences of climate change came close to collapse this month. Some developing countries are frustrated at reluctance by higher income countries to contribute to the fund, first agreed at last year\u2019s UN COP27 climate summit.\u00a0<\/p>\n<p>International financing institutions and donor countries have focused in recent months on targeted projects to increase the resilience of countries on the front line of climate disasters.\u00a0<\/p>\n<p>The World Bank said in June it would embed repayment pauses and catastrophe insurance into new loans to its \u201cmost vulnerable borrowers\u201d, to help countries quickly tap emergency relief funds they would previously have spent on repayments.\u00a0<\/p>\n<p>The same month, a multi-donor insurance fund known as the Global Shield Solutions Platform said it would start offering pre-arranged finance to vulnerable countries that could be disbursed before or just after disasters take place.\u00a0<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/c9e22cd4-22a7-4916-9e02-4facd31670e2\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stay informed with free updates Simply sign up to the Climate change myFT Digest &#8212; delivered directly to your inbox. The Insurance&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-6962","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insurer body plans infrastructure fund for climate-hit economies | inFundPros<\/title>\n<meta name=\"description\" content=\"Stay informed with free updatesSimply sign up to the Climate change myFT Digest -- delivered directly to your inbox.The Insurance Development Forum, a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=6962\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insurer body plans infrastructure fund for climate-hit economies | inFundPros\" \/>\n<meta property=\"og:description\" content=\"Stay informed with free updatesSimply sign up to the Climate change myFT Digest -- delivered directly to your inbox.The Insurance Development Forum, a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infundpros.com\/?p=6962\" \/>\n<meta property=\"og:site_name\" content=\"inFundPros\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-30T06:45:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/https:\/\/d1e00ek4ebabms.cloudfront.net\/production\/dcb40208-21fa-48e1-995c-7805c8a22322.jpg\" \/>\n<meta name=\"author\" content=\"Press Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Press Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/infundpros.com\/?p=6962#article\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/?p=6962\"},\"author\":{\"name\":\"Press Room\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\"},\"headline\":\"Insurer body plans infrastructure fund for climate-hit economies\",\"datePublished\":\"2023-10-30T06:45:01+00:00\",\"dateModified\":\"2023-10-30T06:45:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/infundpros.com\/?p=6962\"},\"wordCount\":589,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/infundpros.com\/?p=6962#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/infundpros.com\/?p=6962\",\"url\":\"https:\/\/infundpros.com\/?p=6962\",\"name\":\"Insurer body plans infrastructure fund for climate-hit economies | inFundPros\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/#website\"},\"datePublished\":\"2023-10-30T06:45:01+00:00\",\"dateModified\":\"2023-10-30T06:45:01+00:00\",\"description\":\"Stay informed with free updatesSimply sign up to the Climate change myFT Digest -- delivered directly to your inbox.The Insurance Development Forum, a\",\"breadcrumb\":{\"@id\":\"https:\/\/infundpros.com\/?p=6962#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/infundpros.com\/?p=6962\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/infundpros.com\/?p=6962#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/infundpros.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Insurer body plans infrastructure fund for climate-hit economies\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/infundpros.com\/#website\",\"url\":\"https:\/\/infundpros.com\/\",\"name\":\"Fintech Advance\",\"description\":\"Latest Finance and Tech News and Updates\",\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/infundpros.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/infundpros.com\/#organization\",\"name\":\"Fintech Advance\",\"url\":\"https:\/\/infundpros.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"width\":409,\"height\":70,\"caption\":\"Fintech Advance\"},\"image\":{\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\",\"name\":\"Press Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"caption\":\"Press Room\"},\"sameAs\":[\"https:\/\/infundpros.com\"],\"url\":\"https:\/\/infundpros.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Insurer body plans infrastructure fund for climate-hit economies | inFundPros","description":"Stay informed with free updatesSimply sign up to the Climate change myFT Digest -- delivered directly to your inbox.The Insurance Development Forum, a","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infundpros.com\/?p=6962","og_locale":"en_US","og_type":"article","og_title":"Insurer body plans infrastructure fund for climate-hit economies | inFundPros","og_description":"Stay informed with free updatesSimply sign up to the Climate change myFT Digest -- delivered directly to your inbox.The Insurance Development Forum, a","og_url":"https:\/\/infundpros.com\/?p=6962","og_site_name":"inFundPros","article_published_time":"2023-10-30T06:45:01+00:00","og_image":[{"url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/https:\/\/d1e00ek4ebabms.cloudfront.net\/production\/dcb40208-21fa-48e1-995c-7805c8a22322.jpg"}],"author":"Press Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Press Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/infundpros.com\/?p=6962#article","isPartOf":{"@id":"https:\/\/infundpros.com\/?p=6962"},"author":{"name":"Press Room","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff"},"headline":"Insurer body plans infrastructure fund for climate-hit economies","datePublished":"2023-10-30T06:45:01+00:00","dateModified":"2023-10-30T06:45:01+00:00","mainEntityOfPage":{"@id":"https:\/\/infundpros.com\/?p=6962"},"wordCount":589,"commentCount":0,"publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/infundpros.com\/?p=6962#respond"]}]},{"@type":"WebPage","@id":"https:\/\/infundpros.com\/?p=6962","url":"https:\/\/infundpros.com\/?p=6962","name":"Insurer body plans infrastructure fund for climate-hit economies | inFundPros","isPartOf":{"@id":"https:\/\/infundpros.com\/#website"},"datePublished":"2023-10-30T06:45:01+00:00","dateModified":"2023-10-30T06:45:01+00:00","description":"Stay informed with free updatesSimply sign up to the Climate change myFT Digest -- delivered directly to your inbox.The Insurance Development Forum, a","breadcrumb":{"@id":"https:\/\/infundpros.com\/?p=6962#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/infundpros.com\/?p=6962"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/infundpros.com\/?p=6962#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/infundpros.com\/"},{"@type":"ListItem","position":2,"name":"Insurer body plans infrastructure fund for climate-hit economies"}]},{"@type":"WebSite","@id":"https:\/\/infundpros.com\/#website","url":"https:\/\/infundpros.com\/","name":"Fintech Advance","description":"Latest Finance and Tech News and Updates","publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/infundpros.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/infundpros.com\/#organization","name":"Fintech Advance","url":"https:\/\/infundpros.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","width":409,"height":70,"caption":"Fintech Advance"},"image":{"@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff","name":"Press Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/person\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","caption":"Press Room"},"sameAs":["https:\/\/infundpros.com"],"url":"https:\/\/infundpros.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/6962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6962"}],"version-history":[{"count":0,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/6962\/revisions"}],"wp:attachment":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}