CLIMATE & DISASTER RISK FINANCE & INSURANCE (CDRFI) TECHNICAL CAPACITY BUILDING WORKSHOP by Carol-Faye Bynoe-George
The Caribbean Policy Development Centre (CPDC), funded by the German Ministry for Economic Cooperation and Development (BMZ), is implementing a project called “Multi-Actor Partnership for pro-poor and gender-equitable climate risk financing in the context of the IGP’s 2025 vision”. Under this initiative, the CPDC hosted a two-day workshop in Antigua and Barbuda on 24th and 25th April for stakeholders such as government, Academia, NGOs, Private Sector, farmers and others.
The Caribbean Policy Development Centre (CPDC) is a coalition of Caribbean Non-Governmental Organizations (NGO). It was established in 1991 to sensitize NGOs and the general public on key policy issues and to impact policy makers on decisions which put the interest of Caribbean people at the centre of Caribbean development.
CPDC is a regional non-governmental organization whose mission is “To build civil society organizations’ partnerships through engagement with people, governments, and other relevant partners to influence the design and implementation of policies that empower and improve the lives of Caribbean people,” Mr. Christon Herbert/Project officer said in his opening remarks
The purpose of the workshop was to enhance the knowledge of key stakeholders on Climate and Disaster Risk Finance and Insurance (CDRFI) in Antigua and Barbuda. The participants were provided with knowledge to utilize climate financing and insurance to boost Climate Resilience effectively.
In phase one the project was implemented in Antigua and Barbuda, Grenada and Barbados. Jamaica and Dominica were added during phase two. There are forty -four multi-actors consisting of stakeholders from government and civil-society. One of the main focuses was ‘Parametric Insurance”, this insurance addresses the magnitude of the disaster and not the amount of damages it caused like the traditional indemnity policy.
Project Aims
- The overall goal of the multi-country project is that key aspects of pro-poor, gender-equitable and human rights-based CDRFI approaches for the benefit of particularly vulnerable population groups are integrated in climate and disaster risk finance and insurance (CDRFI) MAPs,
- Ensuring that CDRFI mechanisms in the Caribbean designed and implemented are influenced and informed through our Caribbean MAPs with collaboration at the global, regional and national levels.
Workshop Aims and Objectives
- To enhance the knowledge of key stakeholders on Climate and Disaster Risk Finance and Insurance in Antigua & Barbuda.
- To provide a forum for discussion around CDRFI in Antigua and Barbuda
- To improve the understanding on the benefits of CARDI in boosting climate resilience as we attempt to mitigate against and adapt to the impacts of climate change
- Collaboratively develop a practical playback for designing tailored financing or risk products, addressing the unique vulnerabilities in Antigua & Barbuda
Intended Learning Outcomes:
- Understand the concept and principles of climate, disaster risk finance and insurance for the community
- Identify the relevant steps for assessing climate finance and designing appropriate financing options.
- Understanding the vary climate finance and insurance options available to Antigua & Barbuda.
Workshop Methodology
- The training was practical and interactive.
- It featured a mixed modality of delivery, included case studies and group work.
The facilitators were Christon Herbert, Michael Zissenar (via Zoom) and Telly Valerie Onu. This workshop was the final of three hosted by the Gilbert Agricultural Rural Development Center (GARDC).