The UN's resident co-ordinator to Fiji, Solomon Islands, Tonga, Tuvalu and Vanuatu examines the role of the insurance industry in addressing climate riskAs the world’s biggest risk aggregators, re/insurers can play a crucial role in adaptation and resilience to climate change, UN official Dirk Wagener saysWith its expertise in risk management and financial capacity, the re/insurance sector can contribute to climate adaptation and resilience efforts in six main ways, according to one of the UN’s resident co-ordinators.“Re/insurers can share valuable insights on risk assessment and management, facilitating a deeper understanding of climate risks across financial institutions. By integrating climate risk considerations into investment strategies and lending practices, the financial community can align with climate goals and contribute to building a more sustainable and resilient economy,” Dirk Wagener says in an interview with Insurance Day.The six capacities re/insurers have in this context are:Risk assessment and pricing: insurance and reinsurance companies, along with brokers, are crucial players in tackling climate change risks. They can support climate risk insurance through premium assistance programmes. Leveraging their expertise, they can develop risk analysis tools, enhance assessment models and create sustainable insurance products. Collaborating with policymakers, they can promote market-driven risk adjustments and advocate for climate resilience.Innovative insurance products: they can develop innovative insurance products tailored to climate-related risks, such as parametric insurance that pays out based on pre-defined triggers like wind speed or rainfall levels. These products provide rapid payouts after a disaster, enabling quicker recovery.Prevention and risk mitigation services: re/insurers can offer risk mitigation services to their clients, such as providing guidance on building resilient infrastructure, implementing disaster preparedness plans and investing in renewable energy projects to mitigate climate risks. Through tools such as communication campaigns, tailored customer advice and underwriting and pricing policies, they can motivate individuals to adopt preventive measures. Re/insurers can also work with administrative agencies to develop preventive and adaptive public policies supporting a climate-resilient future.Data and research: they can contribute to climate research by collecting and analysing data on climate-related risks and sharing insights with policymakers, businesses and other stakeholders to inform adaptation strategies. Insurance industry initiatives like the Global Resilience Index Initiative aim to provide open climate risk data to support resilience-building efforts.Partnerships and collaboration: re/insurers can collaborate with governments, non-governmental organisations and other stakeholders to develop comprehensive adaptation and resilience strategies, leveraging their expertise and financial resources to maximise impact. They work with policyholders, policymakers and administrative agencies to develop climate-resilient public policies and recovery coalitions post-disaster. Promoting public-private partnerships and pooling mechanisms can offer affordable coverage, helping real economy actors absorb climate-related shocks, reduce default rates and maintain creditworthiness.Advocacy and awareness: re/insurers can advocate for policies that promote climate resilience, such as building codes that incorporate climate risk considerations or incentives for adopting resilient practices and communicate longer-term climate risk information as well as potential adaptation options along with associated possible benefits to their clients, such as premium reductions and discounts. They can also raise awareness among their clients and the public about the importance of adaptation and resilience efforts. With their expertise in understanding and quantifying risks, re/insurers can also support national and global conversations on the best practices in addressing and managing risks associated with climate change.Wagener, who is the UN’s resident co-ordinator to Fiji, Solomon Islands, Tonga, Tuvalu and Vanuatu, says collaborative efforts between the re/insurance sector and the wider risk financing community can also drive innovation in financial products, such as green bonds and climate risk insurance, mobilising capital towards climate-resilient projects. As experts in risk assessments, re/insurance actors can also act as a bridge between governments, development partners and the wider financial community, he adds.“Additionally, sharing data and research on climate risk can enhance the collective understanding of financial risks associated with climate change,” he continues. “The re/insurance sector can partner with training and educational institutions to design learning programmes that would support wider financial community in understanding climate risk. Moreover, by advocating for policies that incentivise climate resilience and engaging in policy dialogue, the re/insurance sector and the wider financial community can create an enabling environment for sustainable finance initiatives,” he adds.Through these concerted actions, they can harness their collective resources and influence to address climate risk effectively and transition towards a more sustainable and resilient future, Wagener says. Furthermore, the re/insurance sector can partner with governments and development institutions to extend protection to those who might not be able to afford it while allowing insurance companies to continue operating in markets that “may seem unprofitable”, he says, owing to factors such as the increased frequency of extreme weather events and premium pricing regulation. “By engaging their clients, wider financial community and other development partners, as well as advocating for change, the re/insurance sector can use its influence to catalyse action to address climate risk,” he adds. Lloyd’s and the Sustainable Markets InitiativeWagener illustrated the role re/insurers can play in adaptation and resilience projects, pointing out that on behalf of the Sustainable Markets Initiative’s (SMI) insurance taskforce, Lloyd’s signed a memorandum of understanding (MoU) with the UN Capital Development Fund (UNCDF) in September 2023 during Climate Week NYC to scale insurance access for climate-vulnerable countries.The SMI was launched by King Charles III during the 2020 annual meeting of the World Economic Forum in Davos. SMI’s mandate, called the Terra Carta, has a mission to build a co-ordinated global effort to enable the private sector to accelerate the achievement of global climate, biodiversity and Sustainable Development Goal (SDG) targets.SMI has 17 industry and financial taskforces under it, comprising chief executives across the private sector whose purpose is to drive collective action towards a sustainable future within and across industries in line with the Terra Carta, and one of the taskforces is for insurance.“By advocating for policies that incentivise climate resilience and engaging in policy dialogue, the re/insurance sector and the wider financial community can create an enabling environment for sustainable finance initiatives”
Dirk Wagener
UNWagener says: “The MoU with UNCDF focuses on developing and increasing access to parametric insurance particularly in the Pacific, Caribbean and Africa regions, for the last-mile communities vulnerable to the consequences of natural hazards.”He adds: “The agreement outlines the co-operation is expected to contribute to progress on closing the protection gap, building financial resilience in climate vulnerable countries, expand opportunities for flow of adaptation finance and catalyse investments from public and private sector to accelerate the achievement of the SDGs.”While the MoU was signed between UNCDF and Lloyd’s, the activities fall under the purview of the SMI and UNCDF only. Parametric insurance training workshops are organised by UNCDF, the UN University Institute for Environment and Human Security and SMI, either at national or regional level.The most recent workshop was held in Suva, Fiji in March and saw the participation of insurance stakeholders from seven Pacific Small Island Developing States.Wagener says the main objectives of these workshops are to: establish a common knowledge base in parametric insurance; train insurance stakeholders in parametric insurance products; explain the nuances and requirements of the same through a participatory approach; and build stakeholder capacity to facilitate the introduction of new and innovative products in the market.“The workshops help foster networking, collaboration, knowledge exchange and can also bolster potential partnerships for future projects and initiatives,” he says. A full Q&A with Dirk Wagener will appear in a special report on climate adaptation and resilience that will be published in May

As the Pacific joins global International Women's Day celebrations, it is an opportunity to reflect on the progress made towards advancing gender equality and empowering women and girls in the region.  The United Nations (UN) remains steadfast in its commitment to promoting gender equality and women's rights, acknowledging that these are indispensable pillars for sustainable development and that without their full realization, meeting the Sustainable Development Goals (SDG) targets is impossible.  In the Pacific, it is commendable to see Pacific governments, civil society, and increasingly, the private sector and faith-based communities, ramping up efforts to advance gender equality and women’s empowerment. There is greater engagement on global platforms related to gender equality and women’s empowerment,such as the Convention on the Elimination of All Forms of Discrimination against Women (CEDAW), the BeijingDeclaration and Platform for Action, the Commission on the Status of Women (CSW), the International Conferenceon Population andDevelopment (ICPD), and the UN’s 2030 Agenda. There have also been regional and national commitments made to gender equality and women’s empowerment through the revised Pacific Leaders’ Gender Equality Declaration (PLGED), the Pacific Platform for Action for Gender Equality and Women’sHuman Rights (2018-2030) and 2050 Strategy for the Blue Pacific Continent, the ratification of human rights conventions, and the endorsement of stronger national gender policies and legislation. While we celebrate all women today, especially women across the Pacific and their achievements, much work remains to be done to end discrimination against women and gender inequality.    This year’s IWD theme focuses on women’s economic empowerment – a reminder that globally, financial investment into women remains alarmingly low and current economic structures push more women into poverty. Today, 1 in every 10 women lives in extreme poverty, and projections indicate 342.4 million women and girls will not have moved out of extreme poverty by 2030 unless trends change. Where prevalence studies have been carried out regionally, findings reveal that up to 68 percent of Pacific women have disclosed enduring physical or sexual violence from a partner during their lifetime.  Additionally, gender inequality persists, evidenced by disparities in access to opportunities, employment, and political participation, underscoring the ongoing struggle for women's rights in the region.  Solomon Islands continues to strive for greater women's political participation and increased representation in parliament - in 2022, Solomon Islands recorded their highest rate of female participation in elected legislature, with four out of 50 MPs being women.   While there is a lack of data on the current rate of female participation in tertiary level education and technical vocational education and training.Regarding technical vocational education and training, young men predominate in regional training centers and TVET, accounting for 73% of students, compared to just 27% of young women.There are multiple barriers to girls’ and women’s education in Solomon Islands, such as a lack of basic sanitary facilities in schools, a lack of dormitories for girls in rural areas, and the long distances that some girls must walk in order to attend school and the subsequent increased risk of violence they face during this journey.There are a number of indirect costs associated with sending a child to school, including transport, books, and stationary, and parents with limited means may give priority to boys’ education over the education of girls. High rates of adolescent pregnancies are believed to cause a number of girls to drop-out of school, although exact data on this is not publicly available. The draft 2014 Education Act states that no one may be refused admission or treated less favourably in schools and
tertiary education institutes on the basis of their gender or pregnancy status. 

March 1st marks a significant milestone as we observe the 10th anniversary of the United Nations Zero Discrimination Day, initiated by UNAIDS to safeguard the rights of all individuals and nurture healthier communities worldwide. In Fiji, this commemoration highlights the vital truth that protecting everyone's rights is crucial for preserving public health and while Fiji has made notable progress, it still faces significant challenges. Fiji's healthcare sector, particularly its response to HIV/AIDS, has shown pioneering spirit. Free Antiretroviral drugs (ARVs), comprehensive medical services for people living with HIV (PLHIV), and robust protections against discrimination through the 2011 HIV/AIDS Act are commendable achievements. These efforts ensure PLHIV in Fiji live with dignity and without stigma. However, despite these achievements, Fiji has seen a 260% increase in new HIV infections over the last decade. This trend underscores the urgent need for continued and enhanced efforts to protect the rights and health of those most at risk. While global efforts to decriminalize LGBTQ+ individuals and end HIV-related stigma offer hope, Fiji must recommit to expanding efforts to ensure every person, regardless of HIV status or any other factor, has access to necessary care and support. This year's Zero Discrimination Day theme, "To protect everyone's health is to protect everyone's rights," resonates deeply with Fiji's challenges and achievements in the fight against HIV/AIDS. It emphasizes the importance of legal and social frameworks supporting health equity and access for all, aligning with Sustainable Development Goals such as Goal 3 (Good Health & Well-Being) and Goal 10 (Reduced Inequalities). Community-led initiatives play a vital role in this fight. Organizations such as Rainbow Pride Foundation, FJN+, SAN Fiji, Strumphet Fiji, and FYSA advocate for their communities' rights, tirelessly pushing for legal reforms and reducing stigma and discrimination. Leadership in advocacy, like that of Ratu Epeli Nailatikau, the UNAIDS Pacific Goodwill Ambassador, is crucial. His commitment has raised awareness and mobilized action against HIV/AIDS, highlighting the profound challenge to human rights and dignity. Reflecting on the importance of inclusivity and rights in the fight against HIV, Ratu Epeli once stated, "We must recognize that addressing HIV/AIDS is not just a health issue but a profound challenge to human rights and dignity." This statement encapsulates the essence of our collective mission to protect health by safeguarding rights. Despite progress, challenges persist. The rise in HIV infections in Fiji and increasing discrimination against marginalized communities globally demand action. Yet, the resilience and advocacy of affected communities demonstrate the effectiveness of community-led initiatives in promoting social change and health equity. As we commemorate Zero Discrimination Day, let's recommit to supporting these communities. Protecting health through the protection of rights is not only morally imperative but also a practical necessity for ending AIDS and fostering a healthier, more inclusive society. Together, we can confront discrimination, advocate for the rights and health of all Fijians, and work towards ending AIDS by 2030. It's a collective endeavor that requires empathy, support, and action from every segment of our society.  

Over the last couple of years inflation has caused a cost-of-living crisis across large parts of the world. Some fearmongeres have used the hardship this has caused billions of people to propagate rhetoric that climate change action is unaffordable and running against the interests of ordinary people. Nothing could be further from the truth.  Propagating a Green vs. Poor narrative is divisive, and it is often used to mask short-term, profit-driven self-interest. The only stable, economically sustainable future is one of energy security, resilience to disasters, well-funded coordinated recovery from them, and ultimately a cap on temperature rise at 1.5 degrees centigrade. Fossil fuels, including coal, oil, and gas are a major driver of the cost-of-living crisis, which is stretching billions of household budgets to breaking point. Prices have swung wildly, as they frequently do, driven higher by uncertainty and conflict. In turn, this pushes up the costs of transport, food, electricity, and basic household necessities. In some heavily fossil fuel-dependent countries, household bills rose as much as US$1000 in 2022 due to fossil fuel energy costs. Consumer costs will rise even further and economic growth will slow as climate impacts become more intense, according to economic authorities, such as the United States Treasury, the Reserve Bank of India and the European Central Bank. High energy prices also shrink profit margins for businesses and hurt economic growth. High energy prices also shrink profit margins for businesses, hurt economic growth, and impede the right to energy access across the world. Inflation hurts the poorest households the most. This comes as climate disasters are also getting worse in every country. This year will likely be the hottest for 125,000 years. More destructive storms, unpredictable rains and floods, heatwaves, and droughts are already causing massive economic damage and affecting hundreds of millions of people across the world, costing them their lives and livelihoods. The fossil fuel taps can’t be turned off overnight but there are a lot of opportunities for action not currently being taken. For example, in 2022, governments spent over $7 trillion in taxpayers’ money or borrowings on fossil fuel subsidies. Subsidies fail to protect the real incomes of the poorest households and divert money that are increasing developing country debt burdens, or could have been used to improve health care, build infrastructure – including renewable energy and grids – and expand social programs to alleviate poverty. Done responsibly, a phase-out of such subsidies would actually help the poorest and improve the economies of the countries now dependent on them. This year, at UN Climate Change, we conducted a Global Stocktake on climate action up to now. It has indicated clearly that progress is too slow. But it also revealed that there are many tools we have to speed up climate action now, which will simultaneously build stronger economies. We have the knowledge and tools to accelerate this transition while ensuring it is fair and just, leaves no one behind.

Billions of people need their governments to pick up this toolbox and put it to work. That includes switching billions of dollars from investments in new fossil fuel production to renewable energy that will provide stable, reliable and lower-priced energy to propel economic growth. This is about both demand and supply. Those of us that demand energy to turn our lights on need to be provided with clean options to do it, and the fiscal space to invest in our communities and their ability to adapt to the changing world. There is cause for optimism, if governments come to this year’s climate change conference – COP28 – in Dubai with a spirit of cooperation and a laser-focus on solutions. At COP28 we can agree on tripling the world’s renewable energy capacity. We can double energy efficiency. We can show we are doubling finance to help countries adapt to climate impacts and center it in national planning. We can make the climate loss and damage fund a reality that helps deliver climate justice. And we can deliver old promises on financing the transition, and outline how we are going to fund the next steps. One moment, one meeting, won’t change everything. But we can capture the future in the directions that we set this year, and provide the plan for how national commitments can deliver in 2025. I refuse to let fearmongering pull a hood over my eyes, and you shouldn’t either.