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Climate risk insurance is a type of insurance designed to mitigate the financial and other risk associated with climate change, especially phenomena like extreme weather. [ 22 ] [ 23 ] [ 24 ] The insurance is often treated as a type of insurance needed for improving the climate resilience of poor and developing communities.
Climate risk insurance is a type of insurance designed to mitigate the financial and other risk associated with climate change, especially phenomena like extreme weather. [ 1 ] [ 2 ] [ 3 ] The insurance is often treated as a type of insurance needed for improving the climate resilience of poor and developing communities.
The Ministry of Natural Resources and Environment (MONRE, Vietnamese: Bộ Tài nguyên và Môi trường) is a government ministry in Vietnam responsible for: land, water resources; mineral resources, geology; environment; hydrometeorology; climate change; surveying and mapping; management of the islands and the sea.
Climate risk management covers a broad range of potential actions, including: early-response systems, strategic diversification, dynamic resource-allocation rules, financial instruments (such as climate risk insurance), infrastructure design and capacity building.
In March 2023, Chubb Limited announced that its insurance policies for oil-and-gas companies would require greater reductions in methane emissions for coverage, [44] and in May 2024, Chubb Limited CEO Evan G. Greenberg criticized state governments for blocking insurers from pricing climate risk into policies, stating "Climate change is sending ...
The main contributor to the country's emissions is fossil fuel combustion, which accounted for about 60% of greenhouse gas emissions in 2014. [3] As of 2018, the electricity sector accounted for 48% of Vietnam's CO 2 emissions from fossil fuel combustion, industry for 28%, transport 16%, the residential sector 4%, the commercial sector 3%, and agriculture 1%. [3]
Climate change vulnerability is defined as the "propensity or predisposition to be adversely affected" by climate change. It can apply to humans but also to natural systems , and both are interdependent. [1]: 12 Vulnerability is a component of climate risk. Vulnerability will be higher if the capacity to cope and adapt is low.
[1]: 27 Because all of Vietnam lies between the southern and northern limit of the polar front, Vietnam's climate are both influenced by polar air and tropical air (from the tropical convergent zone). [1]: 27 In Vietnam, the monsoon circulation is a combination of both the South Asian and Northeast Asian monsoon systems.