THE office of climate change and Environmental Sustainability (OCCES) will look at developing an insurance scheme in which funding received from the international donors will be used to provide possible cover for major infrastructure human relief.
OCCESS officer in charge and acting director for Carbon Trade John Mosoro said having insurance cover was considered an option for adaptation to climate change that could also be part of the implementation process of the national framework on climate change.
“Financial management of natural disasters is receiving attention of international financial organisations as a possible solution to climate change adaptation,” Mr Mosoro said.
He said they were looking at adopting an insurance model that is similar to the Munich climate insurance initiative supported by the UN Framework on Climate Change Convention (UNFCCC).
Mr Mosoro said there was little understanding of the agreement within the climate change community on the role that insurance-related mechanisms could play in assisting developing countries.
He said negotiation was ongoing among UNFCCC members on the issue of creating an insurance scheme.