Low-income countries are struggling to access insurance, catastrophe bonds and other hedging mechanisms that could help protect them from the economic fallout of climate change, industry sources told Reuters.
Helping these countries, which face some of the biggest risks from climate change, access these will be a key aim during the COP28 climate talks underway in Dubai.
Multilateral lenders and rich nations aim to finance a special climate disaster fund, offer their own so-called “disaster clauses” in new loans and facilitate other lending structures as a way to shield vulnerable nations from