Deadline: 31-Mar-22
You are planning to develop a climate risk insurance project and look for financial support? If yes, then submit your concept note!
Progress in sustainable agriculture and preservation of biodiversity are amongst the priorities of the German G7 presidency. In support of these policies and moving from ambition to implementation the InsuResilience Solutions Fund (ISF) has established a separate window specifically for climate risk insurance products complementing climate smart agricultural practices and promoting biodiversity with its 7th Call for Proposals (CSA window).
Agricultural insurance solutions proposed under the 7th Call for Proposals should identify and leverage linkages to CSA by focusing directly or indirectly (or have a component) on end-beneficiaries (farmers):
- who follow or adopt practices within the scope of the three overarching fundamentals of Climate-Smart Agriculture (CSA) as defined by the Food and Agriculture Organization of the United Nations (FAO):
- Sustainably increase food security by increasing agricultural productivity and incomes,
- Build resilience and adapt to climate change (promoting adaptive capacity at multiple levels),
- Reduce and / or remove greenhouse gas emissions where possible (enabling GreenHouse Gas – GHG – emission reductions and increase carbon sinks;
- while at the same time maintaining or promoting biodiversity.
Funding Information
The ISF provides grant-based co-funding of up to EUR 2.5m only to consortia of Project Partners consisting of public and/ or private organisations.
What ISF does not fund
- Early stage development projects e.g. research ideas
- Projects without a focus on the target group
- Likely unsustainable projects, e.g. relying on long-term subsidisation
- Financially-unstable and unexperienced product partners
- Projects with a questionable demand
Target Countries and Groups
- Focus on poor and vulnerable households (< 15 USD PPP per day) either directly (through micro-level insurance) or indirectly (through meso- or macro-level solutions).
- Countries in Asia and the Pacific, Africa and Latin America which are eligible to receive official development assistance (ODA) as defined by the OECD Development Assistance Committee and are vulnerable to extreme weather events.
- Nevertheless, countries that are official candidates for accession to the European Union or beneficiaries of the European Neighbourhood Instrument East are considered to be non-eligible for ISF funding. These include: Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Georgia, Kosovo, Moldova, Montenegro, North Macedonia, Serbia, Turkey and Ukraine.
Target group of the ISF are joint initiatives of:
- (local) public entities (e.g. national and regional government bodies or communities),
- private companies in the insurance sector, and
- NGOs, humanitarian organisations.
Criteria
- The insurance product covers at least one of the following perils: flood, wind / storm, excess rain, drought/ heat waves, cold spells (a combination with other perils is possible). Examples: Nat Cat, business interruption, property or agricultural insurance
- The project has a lifespan of up to 24 months / the product is ready for market placement and launch within 24 months after funding approval.
- A work, budget and time plan containing reliable cost estimations exist.
- Relevant experience of implementing partners, reference project exist.
- Funding is requested for product development related costs (e.g. data collection, IT, risk modelling, etc.).
For more information, visit https://www.insuresilience-solutions-fund.org/call-for-proposals