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The document analyzes the African perspective on 'loss and damage'—climate impacts that cannot be avoided through mitigation or adaptation. It highlights the failure of existing mechanisms like the Warsaw International Mechanism (WIM) and the Santiago Network to provide sufficient financial support, noting that developed countries resist dedicated funding due to concerns over legal liability. The authors recommend that African nations establish a transparent, inclusive position on the mandate of a potential Finance Facility, explore climate litigation against 'carbon majors', and integrate loss and damage assessments into their Nationally Determined Contributions (NDCs).

Reclaim Finance criticizes AXA and AXA IM for maintaining financial support for new fossil fuel projects despite their public commitment to a 1.5°C trajectory. The statement highlights that AXA continues to provide insurance for new oil and gas projects and that AXA IM has historically voted in favor of insufficient climate plans from oil majors like TotalEnergies, Shell, and BP.

Reclaim Finance calls on AXA to cease providing insurance for the Brunsbüttel LNG terminal and other new fossil fuel projects. The organization argues that such infrastructure facilitates the import of shale gas, contradicts AXA's leadership in the Net Zero Insurance Alliance, and ignores calls from the French Ministry of Economy to exit non-conventional oil and gas sectors.

Reclaim Finance criticizes Lloyd’s of London for maintaining a coal policy that allows new insurance cover for coal plants and thermal coal mines until January 2022, potentially enabling projects like the Whitehaven mine in England and Adani’s Carmichael project in Australia. The author highlights gaps in the policy, specifically the lack of exclusions for coal transport infrastructure and coal developers, and argues that the 30% revenue threshold for phasing out thermal coal by 2030 is too high and too slow compared to other European insurers.

Reclaim Finance criticizes AXA for maintaining investments and insurance coverage for fossil fuels despite its carbon neutrality goals. The organization highlights gaps in AXA's policies regarding Arctic drilling, oil sands, and shale oil and gas, urging the insurer to commit to 'no new unconventional oil and gas' and to divest from the most exposed companies in these sectors.

The Global Innovation Lab for Climate Finance (the Lab) has supported 49 instruments that mobilized over USD 2.3 billion. This document identifies four critical success factors for scaling these innovations: establishing a track record, building economies of scale, assembling a robust team and governance structure, and securing strategic long-term partnerships. Through case studies of Climate Investor One, Energy Savings Insurance, and Long-Term Foreign Exchange Risk Management, the brief demonstrates how these factors enable instruments to move beyond initial implementation to broader geographic or sectoral replication.

The briefing describes a 'new abnormal' characterized by continuous climate escalation, citing extreme wildfires in Colorado and the US West, as well as hurricanes on the East and Gulf Coasts. It identifies five primary challenges: mass migration, health threats from air pollution and 'threat multipliers', financial instability due to asset loss and insurance costs, the need for resilient urban rebuilding, and the requirement to update the electric grid with localized resources and microgrids. The author calls for a 50 percent reduction in emissions by 2030 and net zero by 2050 to limit global heating to 1.5 degrees Celsius.

The COVID-19 pandemic disrupted the Malawian insurance sector by stagnating sales due to a reliance on physical distribution and reducing premium income as customers struggled to pay. Insurers responded by digitising the value chain, offering premium holidays, and adopting remote work infrastructure. While the pandemic increased demand for critical illness and income protection products, it created liquidity and solvency pressures due to decreased investment returns and higher operational expenses for digitisation. The Reserve Bank of Malawi provided regulatory relief by suspending on-site examinations and offering a one-year holiday on supervisory levies.

The document details how COVID-19 containment measures disrupted the Zimbabwean insurance sector, highlighting challenges in remote work, stagnating sales due to the lack of e-signatures, and anticipated financial pressures. It examines the responses of insurers and the regulator (IPEC), while identifying opportunities for digital transformation and product innovation to support economic recovery.

The report details how COVID-19 disrupted the Ghanaian insurance sector, citing operational challenges due to lockdowns, financial risks from declining premium income and volatile investment assets, and the regulatory response of the National Insurance Commission (NIC). It highlights a shift toward digitalization and the broader economic downturn in Ghana, including a GDP growth estimate reduction from 6.8% to 2.6% for 2020.

The report examines how COVID-19 disrupted the sub-Saharan African insurance value chain, forcing rapid digitalisation and straining balance sheets due to reduced premium income and investment returns. While household life and health policies generally covered the pandemic, business interruption insurance largely did not due to global reinsurance exclusions. The document highlights opportunities for insurers to adopt remote onboarding and for regulators to remove barriers to digital sales and manage potential market consolidation.

The report details how COVID-19 caused operational disruptions, reduced premium income, and accelerated digitalization within the insurance sector in Eastern and Southern Africa. While life and health products provided some coverage, business interruption insurance largely failed to support business resilience. Insurers face prudential stability concerns and liquidity challenges, though 50% expect premium income to recover within a year.

A call for action on adaptation and resilience, co-led by Egypt and the UK and supported by the UNDP, was endorsed by 117 countries and 86 organisations by October 17, 2019. It is based on initiatives profiled at the UN Secretary General's Climate Action Summit, including the Coalition for Climate Resilient Investment (CCRI), the InsuResilience Global Partnership, and the LDC Initiative for Effective Adaptation and Resilience (LIFE AR).

ClientEarth argues that Lloyd's of London's current risk management is inadequate regarding coal assets, noting that its Coal Exclusion Policy only covers 2.5% of assets. The letter highlights the Carmichael coalmine as a high-risk project due to potential stranded asset risks and a lack of a 'social licence to operate', which could lead to significant insurance claims. ClientEarth asserts that continuing to enable coal undermines the insurance business model by fueling climate-driven natural catastrophes, and calls for public disclosure of risk management criteria.

The document analyzes how climate change increases the frequency and intensity of 'billion-dollar' disasters, straining national budgets and widening the 'protection gap'—the difference between total economic losses and insured losses. It details the transition from traditional actuarial science to forward-looking 'cat models' and geospatial modeling to price risk. To address 'tail risks' and the lack of insurability in vulnerable regions, the text highlights alternative mechanisms: catastrophe bonds for capital market risk transfer, microinsurance (parametric insurance) for low-income populations, and sovereign risk pools for multi-country coverage. It also notes the codification of insurance in international frameworks like the Paris Agreement's 'Loss and Damage' pillar and the Sendai Framework for Disaster Risk Reduction.

The document analyzes the role of insurance in mitigating the fiscal shocks of climate change, highlighting the growing 'protection gap' where economic losses far exceed insured amounts. It details the shift from historical actuarial data to forward-looking 'catastrophe models' and explores innovative tools such as catastrophe bonds, microinsurance, and sovereign risk pools. The text also discusses the integration of insurance into international climate governance frameworks like the Paris Agreement and the Sendai Framework for Disaster Risk Reduction.

The paper outlines how the UK can align its trade policy with the Paris Agreement to capitalise on a low-carbon market estimated at £1.0–1.8 trillion annually by 2030. It identifies UK strengths in offshore wind, gas turbines, and financial services, and proposes a structured approach to FTAs. The authors categorise FTA provisions into 'triple wins' (tariffs, services, and standards), 'policy coherence' (intellectual property and procurement), and 'policy cooperation' (sustainable development chapters, private standards, and environmental taxes). It concludes with a checklist for policy-makers to ensure trade deals support climate-resilient development.

The report identifies that while climate change acts as a stressor to existing business risks, it also creates opportunities for Bangladeshi companies to develop new products, access new markets, and achieve cost savings. It highlights specific opportunities in the energy, agriculture, insurance, and banking/finance sectors, such as solar home systems and climate-resilient seeds. To overcome scaling challenges, the report recommends utilizing the Green Climate Fund's Private Sector Facility (PSF) and building strategic partnerships with NGOs, government agencies, and international development partners.

The Paris Agreement formally recognizes "loss and damage" as a distinct issue from adaptation, acknowledging that some climate impacts are too severe to be adapted to. This includes extreme weather events and slow-onset events like desertification or the disappearance of island nations. The agreement makes the Warsaw International Mechanism for Loss and Damage permanent and calls for international cooperation on early warning systems, risk management, and insurance, while explicitly stating that the provision does not establish a basis for legal liability or compensation.

The report examines Energy Savings Insurance (ESI), an instrument developed by the Inter-American Development Bank and BASE to unlock energy efficiency investments for SMEs by insuring against the risk that projected energy savings are not met. ESI can absorb up to 80% of underperformance risk and is being piloted or replicated across several countries, including Mexico, Colombia, and El Salvador. If scaled globally, the instrument is estimated to drive USD 10-100 billion in investment and reduce annual emissions by 27-234 MtCO2 by 2030.