the Munich Climate Insurance Initiative (MCII) and Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) have developed an Integrated Climate Risk Management (ICRM) approach. MCII and GIZ identified the disaster risk management cycle, also known as the PPRR approach − prevent, prepare, respond and recover − as a valuable way to: 1) systematically analyse and pinpoint where insurance can add value, 2) provide an overview to public authorities/government officials of the status of international political momentum, and 3) find synergies between the practical activities and policy of DRM and climate change adaptation (CCA).
Integrating Insurance into Climate Risk Management Toolbox
The Climate Expert entails a practical 5-step approach and working materials that help companies analyse climate change risks and opportunities and generate strong adaptation strategies. It was developed by the Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH.
ECA :
There is a growing consensus that climate change impacts should be considered in the development of adaptation strategies by decision makers at all levels. This requires identifying cost-efficient adaptation measures, resulting from a structured risk management approach. The approach taken under the “Economics of Climate Adaptation (ECA)” framework provides decision makers with information about potential climate-related damage to their environment, economies and societies. The results allow a flexible identification of cost-effective climate adaptation measures for a variety of projects and sectors.
Economics of Climate Adaptation
CLIMADA :
With accurate and reliable data on climate-related risks becoming increasingly important, CLIMADA provides a robust analysis of the cost and benefits of adaptation measures and allows informed resilience investments into adaptation and disaster risk reduction. CLIMADA is an open-source quantitative modelling tool used by ECA to conduct risk assessments. It is a mathematical model written in two different scripting languages, MATLAB and Python.
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