Skip to content

IDF MaterialsIDF Blog

With the launch of the Resilient Planet Data Hub at COP28, the Global Resilience Index Initiative is transitioning from a development project to an operational service. Risk Modelling Steering Group (RMSG) Co-Chairs Jenty Kirsch-Wood, Head of the Global Risk Analysis and Reporting Section, United Nations Office for Disaster Risk Reduction (UNDRR); Jeffrey Manson, Senior Vice President, Underwriting, Head of Global Public Sector Partnership, RenaissanceRe; Rachel Delhaise (Group Head of Sustainability, Convex Insurance; Technical Lead Disaster Risk Consultant Stuart Fraser; and Nick Moody, coordinator of the RMSG and co-lead of the Global Risk Modelling Alliance, provide an update. 

 

March 2024: The Insurance Development Forum is leading the development of pioneering global public goods that leverage both public and private sector capabilities. The Resilient Planet Data Hub (RPDH), is a prime example – a data service that includes future climate risk insight under the UN headings of People, Planet and Prosperity.

Founded by the Insurance Development Forum, University of Oxford, and UN Office for Disaster Risk Reduction (UNDRR), under the original umbrella of the Global Resilience Index Initiative (GRII), the RPDH aims to fix the information gap for aggregated risk decision-making and the guidance of capital flows towards resilience.

The original concept was launched at COP26 in Glasgow, to provide  sovereigns and financial institutions with globally consistent reference data on climate and natural hazards and risks, under current and future climate conditions. This essential information is now open and accessible to all, using shared standards and consistent metrics at local to global scales. 

With the launch of the RPDH at CoP28, the GRII is transitioning from a development project to an operational service – the result of two years of close teamwork between the IDF, UNDRR, the University of Oxford, and a number of technical partners such as the Global Earthquake Model Foundation.

The RPDH brings the common language of risk needed to mobilise action and finance for resilience at international, local, and system levels. The idea is to make available best-in-class science on a shared platform in a consistent way globally: Wherever you are in the world, you can compare and prioritise risks related to climate and also nature – the key vulnerabilities, the value of building resilience and protecting natural capital, and the terrible cost of doing nothing.

Climate and nature resilience metrics

At the heart of the RPDH is the Global Resilience Index Risk Viewer. This tool compares risks to countries and sectors arising from multiple hazards at a global scale, and provides access to a globally consistent set of impact metrics using insurance modelling methodologies under both current and future climate conditions. 

Finally, the RPDH is closely connected to the Resilient Planet Finance Lab, based at the University of Oxford and led by Dr Nicola Ranger. This is an accelerator research and innovation program aimed at guiding capital flows towards resilience. Both programmes sit under the overall Resilient Planet Initiative being developed by the UNFCCC High Level Climate Champions Team. 

The informative new RPDH website also includes detailed case studies for sovereign governments, financial institutions, investors, and regulators, developed by the RP Finance Lab with the kind support of Climate Arc and the UK Natural Environment Research Council. Using open data approaches, supported by guidance and decision tools and the expertise of the RP Finance Lab, the Hub brings the common language of risk that is needed to mobilize action and finance for resilience at international, local, and system levels, for People, Planet, and Prosperity.

Next steps for 2024/2025

The RPDH continues to expand its operational footing, and the coordinating team are now working on a long-term hosting solution, as well as preparing funding proposals, and continuing technical development. The RPDH  is also working on increasing adoption, including further use cases with governments, global asset managers, and international finance institutions.

Resilient societies are crucial for coping with extreme events, aligning with the UN’s 2030 Sustainable Development Agenda. Mitigating disasters and climate change impacts is vital for sustainable development. 

Understanding risks and making informed decisions is essential. Services like the RPDH  offer scenario-based analysis, aiding preparedness and recovery planning. These analytics, combined with local data, can quantify risks and inform investment decisions for long-term protection, particularly for countries vulnerable to disaster. 

https://resilient-planet-data.org/

The Resilient Planet Data Hub is chaired by the IDF’s Operating Committee chair, Rowan Douglas, and RMSG members have provided the secretariat function, design and development of the RPDH digital presence, technical guidance and content. Co-Chairs at Jenty Kirsch Wood at UNDRR and Dr Nicola Ranger at the University of Oxford. 

We would like to thank everyone involved in the RMSG for your time and dedication  to improving global understanding and quantification of natural hazards and disaster risk through the use, development and sharing of the re/insurance sector’s risk analytics capability.

Find out more and get involved. 

Date

22nd March, 2024

Share