In an era where global temperatures are consistently breaking records, the need for greater resilience against climate change has never been more urgent. As severe weather events and the long-term impacts of climate change continue to disrupt societies, businesses, economies, and infrastructure, addressing these challenges is vital.
One of the key issues under discussion is the climate protection gap — the difference between economic losses caused by climate-related events and the portion of those losses that are insured.
Across the European Union, only about a quarter of climate-related damages have historically been covered by insurance, and the extent of this gap varies among Member States. Climate change is further exacerbating this divide, creating additional vulnerabilities in the face of climate-related risks.
In November 2021, the European Commission convened the Climate Resilience Dialogue to explore strategies to address the climate protection gap and strengthen climate resilience in the EU. This gathering brought together a wide range of stakeholders, including public authorities, regulators, consumer organizations, and the insurance industry, to focus on effective climate adaptation.
CLIMATIG was honored to participate in this critical conversation.
In July 2024, the Climate Resilience Dialogue published its Final Report, summarizing the key insights and offering actionable recommendations for building climate resilience. Among the solutions discussed was the CLIMATIG app, which contributes to advancing climate adaptation and resilience by helping users better understand and manage climate risks.
By participating in this initiative, CLIMATIG remains committed to playing a part in the global effort to narrow the climate protection gap and support climate resilience for a more sustainable future.