AOSIS calls for workshops on insurance and climate risk assessment2002-09-23 Samoa on behalf of AOSIS
Samoa, on behalf of the Alliance of Small Island States (AOSIS) welcomes this opportunity to submit its views on the additional terms of reference for the insurance related workshops under Decision 5/CP.7, paragraphs 34 and 35. This submission should be seen in conjunction with earlier submissions by AOSIS on adaptation. AOSIS reserves the right to make further submissions and contributions to these discussions. Support for developing countries that are particularly vulnerable to the adverse effects of climate change to adapt to these effects is vital to the members of AOSIS. AOSIS recognizes the important progress made on adaptation as part of the Marrakech Accords, adopted at COP 7, in particular Decisions 5/CP.7, 6/CP.7, 7/CP.7, 9/CP.7 and 10/CP.7. In 1991 Vanuatu, on behalf of AOSIS, submitted a proposal on an insurance mechanism, setting out key elements for an insurance pool. 1 This insurance pool was to draw its revenue from mandatory contributions from developed countries and alleviate the financial burden of loss and damage suffered by the most vulnerable small island and low-lying developing countries as a result of sea level rise. While no insurance related mechanisms have so far been implemented under the UNFCCC or the Kyoto Protocol, the workshop on initial actions relating to adverse effects of climate change, held in March 2000,2 highlighted the need to explore insurance related actions further, particularly as a means of addressing potential losses from climate related disasters. AOSIS supports this conclusion and therefore welcomes further discussions on insurance and risk assessment in the context of climate change and extreme weather events, which should include a broad spectrum of climate related events such as storm surges, tidal waves, abnormal tides and other related oceanographic extremes. In particular, the discussions should focus on insurance related actions required to address the specific needs and concerns of developing country Parties arising from the adverse effects of climate change, as set out in Paragraphs 33 and 34 of Decision 5/CP.7. In order to further advance this work, AOSIS believes the workshops to cover the insurance issues arising from adaptation to the adverse effects of climate change and those arising from adaptation to the adverse effect of response measures should be held separately. This would follow the practice established with the organization of the previous two workshops on these issues in March 2000. There, one workshop discussed initial actions relating to the adverse effects of climate change, the other dealt with the impact of response measures. Whilst AOSIS considers it preferable that these two issues continue to be dealt with at separate workshops, it also considers that it would be convenient to follow the practice to arrange those workshops back to back.
Sub Topic: Loss & Damage