Applying seasonal climate forecasting and innovative insurance solutions to climate risk management in the agriculture sector in Southeast Asia
As of: January 2020
Objective and activities
This project will develop resilient climate risk management systems, best practices, and insurance products that will shield smallholder farmers and businesses engaged in the coffee, sugar, rice, cassava, and grazing industries across the value chain from physical and financial disaster associated with climate change. It will assist ministries in developing adaptation and risk management strategies. The project goals will be achieved through 5 key comprehensive planned measures:•Participatory workshops and socio-economic surveys to explore cc risks, adaptation challenges, enabling factors and barriers•Targeted seasonal climate forecasts to assist with cc adaptation •Financial risk management tools, including index-based insurance products•Environmentally responsive, climate smart, risk management tools and best management practices•Knowledge-driven national and regional adaptation and risk management strategies, and suitable incentive driven programs and measures.
State of implementation/results
The key insurance-risk management transfer project team members have participated and contributed towards a workshop session on ‘What role financial instruments can and cannot play in Disaster Risk Management’ in the Global Platform for Disaster Risk Reduction (2019). The Global Platform for Disaster Risk Reduction is a biennial multi-stakeholder forum established by the UN General Assembly to review progress, share knowledge and discuss the latest developments and trends in reducing disaster risk.
- Advanced Climate Modelling Training – DeRISK and SAMIS (www.fao.org/…).
- Blog article on the 1st Climate Risk Workshop conducted in Battambang Province, Cambodia. (kasekamkampuchea.blogspot.com/…).
- 2nd Climate Risk Workshop conducted in Preah Vihear Province in Cambodia. Posted on IIRR Cambodia Facebook Page (www.facebook.com/…).
- The project has produced draft reports and submitted journal articles Reports.
- Draft reports:
- "Climate change and climate trends in Vietnam, Lao PDR, Cambodia, and Myanmar,"
- "Agricultural and Parametric Insurance Diagnostic: Literature review. Conducted by Willis Towers Watson."
- Journal articles:
- "Byrareddy, Kouadio, Mushtaq, Stone (2019): "Sustainable production of Robusta coffee under a changing climate: A 10-year monitoring of fertiliser management in coffee farms in Vietnam and Indonesia." (Journal of Agricultural Sustainability),
- Pham, Reardon-Smith, Mushtaq, Cockfield (2019): "The impact of climate change and variability on coffee production: A systematic review." (Climatic Change),
- Mushtaq, Kath, Maraseni, Henry, and Imbach: "A framework for synergising climate change mitigation and adaptation using agricultural insurance: Implications for land use policy." (Land Use Policy Journal)