Germany supports Climate Risk Insurance in Nigeria

The Federal Republic of Germany, through its Ministry of Foreign Affairs, recently supported two workshops in Climate Risk Insurance and environmental and social impact assessment for the transition to a green economy in Nigeria. This was facilitated by a Nigerian Non-governmental organization,Community Conservation and Development Initiative (CCID).

Speaking at a press conference, Programmes Director of CCID, Kofo Adeleke stated that “Although the government is doing a lot on climate risk insurance,  banks and insurance houses need to be a part of this as it is only through them that other private firms will be able to be a part of this climate risk insurance. “The convergence of opinion after expert presentations from Dr Amos Abu of the World Bank, Dr Regina Folorunsho of the Nigerian Institute of Oceanography and Marine Research, among others, was that the country needs a new line of thinking and action to support a green economy in practice.

This perspective could be enshrined within reviewed national laws, edicts, policies and state and local government action plans and also made a vital component in the syllabuses of schools, in the economic norm of the private sector as well as in the individual attitudes of the citizenry.”

Source: Vanguard