Position paper on climate adaptation and mitigation

Position paper on climate adaptation and mitigation Climate risk has long been on the insurance industry’s agenda and it continues to evolve and pose new challenges and opportunities for the industry. [...] Building on these observations, the Global Federation of Insurance Associations (GFIA) is committed to demonstrating the constructive role of the global insurance industry in addressing climate risk and implementing effective and efficient adaptation and mitigation strategies. [...] Adaptation strategies refer to the action taken to manage the impacts of climate change by reducing vulnerability and exposure to its harmful effects. [...] The ultimate goal of both strategies is to “stabilize greenhouse gas levels in a timeframe sufficient to allow ecosystems to adapt naturally to climate change, to ensure that food production is not threatened and to enable economic development to proceed in a sustainable manner” (IPCC, 2014). [...] Key principles to guide effective and efficient adaptation and mitigation ● Principle 1: To increase societies’ resilience requires society-wide action on adaptation to and mitigation of climate risks.