Ministry of Climate Change and Environment’s fifth national dialogue for climate ambition explores role of insurance sector in building climate change resilience

Ministry of Climate Change and Environment’s fifth national dialogue for climate ambition explores role of insurance sector in building climate change resilience

Dubai-UAE:– The Ministry of Climate Change and Environment (MOCCAE) hosted the Fifth National Dialogue for Climate Ambition (NDCA), dedicated to the insurance industry. Held under the theme ‘Building an effective insurance sector as part of climate adaptation and resilience management’, the event drew the participation of the Rt Hon. Vincent Keaveny, Lord Mayor of the City of London.

Convening around 100 representatives of relevant public and private sector entities, including the Central Bank of the UAE and various insurance providers, the session highlighted best practices and national efforts to enhance climate change resilience by developing a wide variety of insurance services that cater to this global risk.

Her Excellency Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment, extended her sincere appreciation to the Central Bank of the UAE for its commitment and leadership in the comprehensive response of the national insurance industry to climate-related risks and opportunities, and for adding climate change to its list of strategic priorities.

She said: “The insurance sector plays a key role in our fight against climate change risks, as insurance companies serve as the risk carriers on behalf of other industries. When their clients suffer losses due to severe weather, they are the ones to