COP18: Green Climate Fund should buy insurance for most vulnerable

COP18 (03/12/12) – Peter Hoeppe from Munich Re suggests the Green Climate Fund could be used to subsidise insurance for climate vulnerable countries such as Bangladesh.

He says natural disasters in many uninsured nations create “a poverty trap” that is hard to escape from.

“There is a consensus in the insurance industry that our expertise could definitely help developing countries,” he says.

Climate insurance would help to bring money to the region’s that need it the most, says Hoeppe, and provide a means for them to rebuild and adapt to the impacts of climate change.