Better Understanding Insurance Mechanism in Dealing with Climate Change Risk, with Special Reference to China

Feng Kong and Shao Sun
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Feng Kong: College of Humanities and Development Studies, China Agricultural University, Beijing 100083, China
Shao Sun: National Climate Center, China Meteorological Administration, Beijing 100081, China

IJERPH, 2021, vol. 18, issue 6, 1-14

Abstract: Climate change risk has become an important challenge for global sustainable development. The insurance industry can play an important role in coping with the increasingly severe climate change risk. This paper first describes the increasing climate change risk and the difficulties of the insurance mechanism in dealing with it. Then this paper summarizes the international practice of using the insurance mechanism to deal with climate change risk from ten different aspects. Based on the summary of the role of the insurance mechanism in dealing with this risk in developing countries, this paper puts forward the main application areas for climate change risk insurance and discusses the policy implications of developing climate change risk insurance in China.

Keywords: global climate change; coping with climate change risk; insurance mechanism; comprehensive disaster risk prevention; China (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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