Events

2016 Forum of the Standing Committee on Finance

05 September 2016 to 06 September 2016

Manila

Philippines

Urgent steps need to be taken to manage risks of loss and damage associated with climate change.

Upon the invitation of the Executive Committee of the Warsaw International Mechanism for Loss and Damage, the Standing Committee on Finance (SCF) convened its fourth forum that mainly tacked the financial instruments that address the risks of loss and damage associated with the adverse effects of climate change.

The forum focused on risk transfer schemes, social protection schemes, catastrophe and resilience bonds, and contingency finance and discussed respective opportunities, challenges, limitations and gaps. It also explored ways for scaling up, replicating good practices and finding new financing options.

The forum was co-organized with the United Nations Framework Convention on Climate Change (UNFCCC) and the Climate Change Commission of the Government of the Philippines.

Program and Learning Materials:

05 Sep 2016
06 Sep 2016

Date	Session / Activity	Presentation Material	Speaker(s)
05 Sep 2016	Opening Plenary	Welcoming Participants	Seyni Nafo
05 Sep 2016	Opening Plenary	Keynote Statement	Patricia Espinosa
05 Sep 2016	Opening Plenary	Keynote Statement	Emmanuel de Guzman
05 Sep 2016	Opening Plenary	Keynote Statement [Multimedia] [Document] ADB'sVice-President for Knowledge Management and Sustainable Development, Bambang Susantono, delivers his keynote speech. He talks about the solutions...	Bambang Susantono
05 Sep 2016	Session 1 - Setting the Scene	Social Facets of Climate Risks [Slides] [Multimedia] What are the social aspects of the risks of loss and damage, including for particularly vulnerable countries, populations and the ecosystems they depend...	Mark New
05 Sep 2016	Session 1 - Setting the Scene	Overview of the Range of Approaches to Address the Risks of Loss and Damage Learn about the range of approaches currently available to address the risks of loss and damage.	Swenja Surminski
05 Sep 2016	Session 2 - Taking Stock	Current Spectrum and Structure of Financial Instruments to Address the Risks of Loss and Damage What are the financial instruments used to address the risks of loss and damage? And how are these structured? Get to know the existing financial instruments...	Shereen D’Souza
05 Sep 2016		Challenges and Opportunities in Applying Financial Instruments to Loss and Damage Risk financing mechanisms at local, national, regional, and global scales contribute to increasing resilience to climate extremes and climate variability...	Reinhard Mechler
05 Sep 2016	Session 3 - Parallel Plenaries	The Odds and Beauties of Risk Transfer Schemes Risk transfer schemes including insurance products and tools that help the vulnerable to have direct or indirect insurance coverage against the negative...	Simone Ruiz-Vergote
05 Sep 2016	Session 3 - Parallel Plenaries	Social Protection in the Area of Disaster Risk Reduction in Asia Pacific: IFRC Experience and Learnings Climate‐related disasters are expected to increasingly affect vulnerable people, adding to the already unmanageable workload of humanitarian teams.There...	Donna Lagdameo
05 Sep 2016	Session 3 - Parallel Plenaries	Disaster Risk Finance Insurance incl. Cat and Resilience Bonds No country can fully insulate itself against extreme natural disasters, despite prevention and mitigation efforts. A balanced mix of financing, therefore...	Thomas Kessler
05 Sep 2016	Session 3 - Parallel Plenaries	Country Experience on Contingency Finance: Nicaragua Nicaragua is the first nation in Central America to get covered by a disaster risk insurance. Was this move helpful in reducing its vulnerability?	Paul Oquist Kelley
05 Sep 2016	Session 3 - Parallel Plenaries	Risk Transfer Schemes: The Example of CCRIF SPC The economic costs of disasters are rising. Governments can certainly reduce further loss through somerisk transfer mechanisms.	Isaac Anthony
05 Sep 2016	Session 3 - Parallel Plenaries	Comprehensive Climate Risk Management: Can Social Protection be a Leverage? Can social protection provide enough cushion against the risks of climate change? This presentation examines initiatives on climate insurance, and provides...	Rupalee Ruchismita
05 Sep 2016	Session 3 - Parallel Plenaries	Contingency Finance African Risk Capacity (ARC) is a specialised agency of the African Union that provides index-based drought insurance. It is working to offercyclone and...	Tuga Alaskary
05 Sep 2016	Session 3 - Parallel Plenaries	Accelerated Action on Adaptation and Implementing Approaches to Address Loss and Damage in Africa Africa is already experiencing significant consequences of climate change. Under all mitigation and adaptation scenarios, Africa will experience residual...	Kulthoum Omari-Motsumi
05 Sep 2016	Session 4 - Break-out Group Discussions
05 Sep 2016	Session 5 - Outcomes of the Break-out Groups	Risk Transfer Schemes Including Insurance Products and Tools Risk transfer schemes can be utilized most efficiently when used as part of comprehensive, needs-based risk management solutions. Forum participants identified...
05 Sep 2016	Session 5 - Outcomes of the Break-out Groups	Social Protection Schemes How cansocial protection schemeshelp increase adaptive capacity, prevent and reduce risks, and enhance livelihoods? Forum participants provide answers...
05 Sep 2016	Session 5 - Outcomes of the Break-out Groups	Catastrophe and Resilience Bonds Can catastrophe and resilience bonds really help in reducing risks of climate loss and damage? Forum participants answer this main question by sharing...
05 Sep 2016	Session 5 - Outcomes of the Break-out Groups	Contingency Finance Forum participants discussed lessons learned from case studies, including those from Senegal, Nicaragua, and the Philippines on the use of fiscal instruments...

Date	Session / Activity	Presentation Material	Speaker(s)
06 Sep 2016	Session 6 - Wrap Up of Day 1
06 Sep 2016	Session 7 - Parallel Plenaries	Making Risk Finance an Integral Synergizing Element of Comprehensive Risk Management: Philippines’ Experience Enhancing the comprehensive risk management (CRM) is key to addressing loss and damage associated with climate change impacts. As a part of CRM, risk...	Takeshi Kuwabara
06 Sep 2016	Session 7 - Parallel Plenaries	What Makes Social Protection Systems Adaptive? Poor households are more likely to be affected by disasters, and have been found to lose relatively more than non-poor people. Adaptive social protection...	Pablo Acosta
06 Sep 2016	Session 7 - Parallel Plenaries	New Financing Approaches, Instruments and Opportunities that Address the Risks of Loss and Damage The United Nations Environment Programme (UNEP) and the insurance industry has been working with institutional investors in promoting risk modelling beyond...	Butch Bacani
06 Sep 2016	Session 7 - Parallel Plenaries	Notes on Philippine Funding Options in the Loss and Damage Age The Philippine Government has established the people’s survival fund through Republic Act 10174. The fund is intended to provide long-term finance streams...	Red Constantino
06 Sep 2016	Session 7 - Parallel Plenaries	European Union's Experiences in Policy, Funding and Financing Instruments Addressing Loss and Damage The European adaptation strategy deals with adaptation and resilience. Financial instruments are part of the whole package, while research and innovative...	Max Linsen
06 Sep 2016	Session 8 - Break-out Group Discussions
06 Sep 2016	Session 9 - Outcomes of the Break-out Groups	What are the Limitations of the Existing Financial Instruments to Address the Risks of Loss and Damage and What Could Be Other Options/Solutions Considering the Best Practices Around? Forum participants enumerated the limitations of existing financial instruments, which include, among others, a lack of accessible and adequate data and...
06 Sep 2016	Session 9 - Outcomes of the Break-out Groups	What is the Role and Importance of Enabling Environments (e.g. Policies/Strategies, Institutions, Capacity) to Effectively Apply Financial Instruments to Address the Risks of Loss and Damage? Forum participants identified the major stakeholders of financial instruments that address loss and damage. They also discussed strategies and options...
06 Sep 2016	Session 10 - Roles and functions of different actors and ways of strengthening linkages and collaboration	Strengthening Financial Resilience: the Role of ADB Government financing for disaster reductionis limited because other urgent demands compete for budget allocation. Penetration of market-based risk transfer...	Charlotte Benson
06 Sep 2016	Session 10 - Roles and functions of different actors and ways of strengthening linkages and collaboration	Experiences of the G7 Climate Risk Insurance Initiative: InsuResilience The G7 Climate Risk Insurance Inititative—InsuResilience—aims toincrease by up to 400 million the number of poor and vulnerable people who have access...	Gottfried von Gemmingen
06 Sep 2016	Plenary Discussion
06 Sep 2016	Closure of the Forum