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FIJI JOINS GLOBAL CALL TO “#ADAPTOURWORLD”; PUSHES FOR INCLUSIVE CLIMATE RISK INSURANCE

Date: 
Monday, 23 September 2019

New York – Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum, while attending a series of high-level panels in New York, has elevated the profile of resilient investments and built support for scalable climate risk insurance mechanisms.
 
He began the day delivering remarks at the Building Resilient Future Day, organised by the Global Resilience Partnership, where he joined leaders in government, business and civil society in setting out actions and scalable plans for resilience and adaptation.
 
“Investing in resilience is a good investment. And the sooner we take action to make these investments, the greater the returns will be, not just for vulnerable communities, but the entire global economy. In Fiji, we’ve taken our survival into our own hands, channelling our own resources and expertise to implement adaptation projects on the ground in vulnerable communities. And our own experiences have taught us that the best projects not only avoid significant losses from climatic events, they sustain and create livelihoods, fuel local economies, harness nature, and even help build safer and more prosperous societies.”
 
The A-G also spoke on a high-level panel at the launch of the V20 or “Vulnerable Twenty” Sustainable Foundation for Insurance, a mechanism designed to promote private sector insurance uptake to address climate risks and promote low-carbon development.
 
“We need to innovate our way out of the devastating cycle of cyclones and severe weather events. By building the scale necessary to insure assets in vulnerable economies, we protect households, schools, and public infrastructure, which brings certainty and security to an otherwise volatile climate landscape.”