Vision 2025 – increasing global ambition
Further targets are
- the provision of micro insurance for 150 million people (out of the 500 million),
- implementation of comprehensive risk financing strategies by 80 vulnerable countries, including the V20,
- availability of agricultural and asset micro insurance solutions for 70 vulnerable countries, including the V20,
- coverage, through risk financing and insurance mechanisms, of ten per cent of the average annual losses caused by climate change impacts and disasters in V20 countries, and
- provision of 5 billion US dollars in (re-)insurance capacity by the insurance industry.
The Vision has vast reach and provides a framework for players in the field of climate risk insurance and financing in a development context. It thus makes a significant contribution to global climate agendas. Vision 2025 was presented at the Climate Action Summit in September 2019 and highlighted in the Report of the Secretary-General (External link) on the summit.
Currently, 22 programmes comprising 281 projects are under way in 101 countries, contributing to the Partnership's ambitious targets (as at December 2020). The focus is on expanding existing climate risk insurance schemes and developing new and innovative insurance and financing models.