Climate insurance initiative from Munich receives Momentum for Change award
At this year’s UN climate summit, COP, the Munich Climate Insurance Initiative (MCII) will receive the Momentum for Change Award for its efforts to implement climate insurance for vulnerable people in developing countries. In particular, the award is being given for the Livelihood Protection Policy (LPP), an insurance product in Jamaica, St. Lucia and Grenada which allows people to sign up for climate insurance irrespective of their profession or income level.
“We are honored to receive this prestigious award,” says Soenke Kreft, Executive Director of MCII. “The purpose of the Momentum for Change is to shine light on some of the most innovative practical examples of what people across the globe are doing to combat climate change, and it is wonderful that MCII is being recognized in this way.”
MCII will also be joined by Walter Edwin, a St Lucian bee farmer and LPP policyholder, who says he bought the insurance to protect himself against extreme weather, as the effects of climate change are becoming increasingly severe in the Caribbean. “Then I know for sure I don’t have much to worry about, because I know my business will no longer suffer.” Edwin then invests the money he receives in what his bees need to recover from the damage, because “if they survive I know I will survive”.