The Global Shield aims to provide systematic, coherent, and sustained financial protection to scale up action and support for vulnerable people, communities, and countries facing increasing risk of losses and damages related to climate change. Over the past decade, governments, development organisations, the humanitarian system, and the private sector have introduced important financial innovations to address climate-related risks and disasters, paving the way for a global architecture for Climate and Disaster Risk Finance and Insurance (CDRFI). CDRFI offers many advantages to post-disaster financial instruments; however, it remains underutilised in many climate vulnerable low-income countries. This is due to affordability constraints, limited access, and lack of information.

As a central element of the Global Shield, the Global Shield Solutions Platform (GSSP) will contribute to shaping the global financial architecture supporting CDRFI solutions. The GSSP is one of three financing vehicles under the Global Shield. Its mission is to support the development of innovative climate risk finance and insurance solutions to lower the impact of climate disasters, make vulnerable countries’ economies more resilient, safeguard sustainable development, and protect lives and livelihoods of vulnerable people and communities.

Through its needs-based and competitive approach, the GSSP is a platform that offers vulnerable countries access to a wide spectrum of CDRFI solutions and respective implementing partners.