The annual financing gap for health-focused climate adaptation across Asia-Pacific stands at approximately US$3.52 billion through to 2030, more than six times the funding currently available
Mumbai:Across Asia, climate change is reshaping health outcomes, straining healthcare systems, and widening the gap between the risks people face and the protection available to them.
Asia’s health protection gap was estimated at US$1.8 trillion in 2017 and is expected to widen as climate-related health impacts intensify.
At the same time, the annual financing gap for health-focused climate adaptation across Asia-Pacific stands at approximately US$3.52 billion through to 2030, more than six times the funding currently available.
Asia holds 99 of the world’s 100 most environmentally at-risk cities and is ageing rapidly, with one in four people projected to be over 60 by 2050..
Asia is warming faster than the global average and is the world’s most disaster-impacted region, yet carries an 88 – 90% disaster protection gap, the largest of any region in the world.
Climate and Health in Asia, authored by Forum for the Future (convenor of the Climate and Health Coalition) and sponsored by AIA Group, was launched this week at the AVPN Global Conference in New Delhi, India.
Across Asia, climate change is reshaping health outcomes, straining healthcare systems, and widening the gap between the risks people face and the protection available to them. Despite these growing risks, the report finds that climate change is not yet widely viewed by many insurers as an immediate driver of health and life insurance liabilities.
The report suggests that this perspective may need to evolve as the health impacts of climate change become more apparent.
The report provides a practical framework for health and life insurers to strengthen climate-health resilience within their own organisations, among customers and communities, across healthcare systems and through wider partnerships and collaboration.
Despite these growing risks, the report finds that climate change is not yet widely viewed by many insurers as an immediate driver of health and life insurance liabilities. The report suggests that this perspective may need to evolve as the health impacts of climate change become more apparent.
Dr Sally Uren OBE, Executive Director, Forum for the Future and Co-Director, Climate and Health Coalition, said: “As convenor of the Climate & Health Coalition, a pre-competitive coalition working to unlock business action at the intersection of climate and health, Forum for the Future welcomes AIA’s leadership in commissioning this timely and important report. It shines a light on the critical role health and life insurers in Asia can play in building resilience, for individuals, communities, businesses and wider society, as climate risks intensify across the region. We hope this report inspires the insurance sector, in Asia and beyond, to move from recognising these risks to taking bold, practical action that protects both people and planet.”
The report argues that insurers have an opportunity to play a broader role in addressing these challenges, not only by transferring risk, but also by helping to prevent climate-related health impacts, with activities that support prevention, preparedness, and system-level resilience.
It outlines a practical framework for insurer action across four spheres:
-Internal operations: Strengthening organisational resilience by managing climate-related risks, embedding climate awareness across the organisation and supporting the transition to a lower-carbon future.
-Customer engagement and product design: Closing health protection gaps through preventive health programmes and digital tools.
-Healthcare delivery: Increasing efficiency and resilience within healthcare systems and bolstering capacity to respond to increasing climate-related health pressures.
-Wider enabling environment: Advancing research and collaboration to improve understanding of the relationship between climate hazards and health outcomes.
Amita Chaudhury, Group Head of Sustainability at AIA, said, “With climate change increasingly affecting health outcomes and healthcare systems across Asia, prevention, preparedness and resilience are more important than ever. AIA commissioned this research to contribute to the evidence base and encourage dialogue at this critical intersection. We hope this report helps deepen understanding of the links between climate and health, and supports action to strengthen resilience across the region.”
For the additional findings, insights and recommendations for the health and life insurers and the wider healthcare ecosystem, read the full report here: https://www.forumforthefuture.org/climate-and-health-in-asia.