Oasis Platform for Climate and Catastrophe Risk Assessment - Asia
As of: March 2019
Objective and activities
The project goal is to strengthen capacities among-regional stakeholders to understand and develop transparent and standardised catastrophe models to simulate extreme weather event related damages that can be used to assess the likelihood and financial damage caused by extreme climate events and underpin information required by financial markets to invest in (Re-) insurance. This will ultimately enable a reduction in the gap between insured and uninsured losses in the project countries through different methods of risk transfer e.g. sovereign risk transfer. It will also deliver baseline information required to make decisions on climate adaptation. It will also deliver a flood model for the Philippines and a typhoon model for Bangladesh in the Oasis open source cat model platform and make globally available all data in an eMarket, the Oasis Hub.
State of implementation/results
- Data gathering work between the in-country and international scientific partners has continued, and development of catastrophe risk models for Philippines and Bangladesh started. Data sharing between the development teams in Philippines, Bangladesh, U.K. and Germany is tested successfully. Field visits to the sites of historical cyclones are initiated in March 2019. Initial results will be available later in 2019.
- Climate change impact modelling is initiated by PIK to better understand hydrological extremes under future conditions in Bangladesh.
- The next Capacity Building workshop climate change modelling and impact will be conducted with the Bangladesh University of Engineering and Technology (BUET): Institute of Water and Flood Management in Q2/Q3 2019.
- Development of interactive UI for Oasis to enable risk adaptation community to use catastrophe models for climate risk analysis has been underway for several months and will be released later in 2019.
- Establishment of firmer connection between in-country actors and international risk transfer institutions was initiated through in-country workshops in October 2018, bringing together international re/insurance brokers and local insurance markets in each country. More formal interactions will continue in 2019 with the completion of initial results from the catastrophe models.
- Presentations, newsletters and project updates are available from oasislmf.org/…
- Reports and presentations from the kick-off workshops held in 2018 in Bangladesh and the Philippines are available from oasislmf.org/…
- Information about the project has been released via the InsuResilience platform www.insuresilience.org/… and the IKI website www.international-climate-initiative.com/… (The next project update newsletter will be released in early April 2019).
- The Oasis Loss Modelling Framework platform and documentation is available to download for free from the open-access GitHub website github.com/…, and project specific presentations, training materials etc will be released.
- Further workshops and events will be held in each country in Q3/Q4 2019 as development work progresses, for knowledge-exchange, training and model testing and validation. All materials will be released on the above mentioned websites as they become available. Additional efforts will be made to share the technical details and lessons learnt at the UNISDR Global Platform for Risk Reduction, any relevant ASEAN meetings, and in conjunction with World Bank and Asian Development Bank Disaster Risk Financing and Insurance and Risk Pool initiatives in each country.