The Global Asia Insurance Partnership (GAIP) has joined forces with software company Convergence to advance the role of the insurance sector in fostering climate-resilient health outcomes in developing nations through blended finance.
The partnership’s primary initiative will be the creation of a comprehensive playbook. This guide will focus on strategies to leverage insurance and blended finance to drive climate action.
In addition to the playbook, the collaboration will emphasize capacity building and knowledge sharing to enhance understanding of the insurance sector’s contribution to climate resilience.
Blended finance, a model that combines public and private funds, aims to attract private investment to developing countries by using risk-mitigation tools like insurance.
Ritesh Thakkar, Senior Advisor for the Asia-Pacific region at Convergence, emphasized the importance of collaborative efforts in addressing the challenges of climate change. “The challenges posed by climate change require collaborative efforts with different stakeholders in the ecosystem,” he stated in a press release.
Related topics