Climate Change Risk and Insurance as an Adaptation Strategy: An Enquiry into the Regulatory Framework of South Africa and Ghana

Jegede, Ademola Oluborode; Addaney, Michael; Mokoena, Untalimile Crystal

doi:10.1007/978-3-030-36875-3_14

Cited by 3 publications

(6 citation statements)

References 38 publications

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“…Effective regulation ought to be embedded in the law and regulatory organisations have to be legally empowered to act to balance markets. One major challenge is that agricultural insurance is relatively new in many SSA countries and laws and regulations on it are nonexistent or still in the early stages of development (Jegede et al, 2020;Onyiriuba et al, 2020). Countries, therefore, need to re-evaluate their policies and laws, given recent innovations.…”

Section: Policy Regulation and Legal Environmentmentioning

confidence: 99%

Determinants of uptake and strategies to improve agricultural insurance in Africa: a review

2021

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Weather shocks affect smallholder farmers and pastoralists in Sub-Saharan Africa unequally. Agricultural insurance has emerged as a safety net option to protect farmers’ welfare. However, in comparison to other regions, fewer African farmers and pastoralists have adopted agricultural insurance. This review synthesises broad recent literature on why insurance take-up has remained low and highlights six key themes, including: (1) product quality, (2) product design, (3) affordability, (4) information and education, (5) behavioural and sociocultural factors, and (6) the role of government in enabling markets. We shed light on how insurance uptake can be encouraged.

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Section: Policy Regulation and Legal Environmentmentioning

confidence: 99%

Determinants of uptake and strategies to improve agricultural insurance in Africa: a review

2021

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“…The second most studied research field is strategy, especially in the environmental dimension and in the global ESG concept, where it is analyzed, basically, from a conceptual perspective, how companies manage and develop the criteria at a corporate level. In the social impact dimension, the most analysed topics are social and risk management, basically in underdeveloped countries (Jegede, Addaney & Mokoena, 2020;Ramakrishnan, Hishan, Shahabuddin & Kanjanapathy, 2016) and from the point of view of how to manage the social impact, caused by extreme weather events, through insurance products with coverage for such events (Fisher, Hellin, Greatrex & Jensen, 2019;Mueller, Quaas, Martin, Frank & Baumgaertner, 2011).…”

Section: Discussionmentioning

confidence: 99%

“…The risk management intersects with the social dimension when the impacts on more vulnerable economies are analyzed, especially in less developed regions (Jegede et al, 2020) and Linnerooth-Bayer, Warner, Bals, Höppe, Burton, Loster et al (2009).…”

Section: Risk Managementmentioning

confidence: 99%

“…The current existing literature is mainly based on the impact of insurance in less developed regions of Africa, Asia and some of Latin America. Jegede et al (2020) defend that insurance is a vital part of a comprehensive set of responses targeted at adapting to future climate change in Africa and Ramakrishnan et al (2016) analyse the insurance role in the flood disaster in India.…”

Section: Social Impact Dimensionmentioning

confidence: 99%

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A systematic literature review: ESG criteria implementation in the Insurance industry

Marti,

Bastida-Vialcanet,

Marimon

2024

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Purpose: Sustainability and ESG criteria are gaining more and more relevance, and the insurance industry is playing a relevant role in the sustainability transition. Therefore, this study aims to review existing academic literature on ESG criteria in the insurance industry. Specifically, it addresses the determinants in three objectives: First, analysing the focus on sustainability considering the three dimensions of the ESG framework: environment, social and governance; the second one, focusing on the relevant topics in the insurance industry involving the ESG criteria. And finally, identifying the main gaps and point out new research lines.Design/methodology: The research was conducted through a systematic literature review considering published articles of Web of Science and Scopus.Originality/value: Although the insurance industry has a very relevant weight into the economy and the society, and it plays a key role in promoting the transition to a low-carbon economy, we noticed that there are not many scientific articles on this subject.Findings: Findings contribute to the body of literature on sustainable finance, providing a new and complete overview about how ESG criteria implementation has been approached in the insurance industry: mapping research streams, analysing the ESG approach, and identifying research gaps in this domain.Practical implications: This article wants to provide a broader and a more structured knowledge about ESG criteria implementation, and to help managers and insurance companies to move forward with sustainability strategies, and to identify the future lines of research.Social Implications: Business sustainability aims to combine market logic with social welfare logic, but we have found little activity on how insurance companies develop the social dimension within the ESG perspective, as a way to influence the community by promoting equal practices, access to education, etc.

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“…CRF programs are now established in several African countries and are also operationalized at a trans-African scale, facilitated by regional and sub-regional organizations (Jegede et al, 2020;White, 2012 (Chapagain et al, 2020). In countering the resulting water insecurity, the UTNWF brings together local corporations, Kenyan government agencies, local farmers, and NGOs, pooling their resources to protect and restore water quality and supply to parts of Kenya's arid yet vastly populated capital city (Rouillé-Kielo, 2019;Vogl et al, 2017).…”

Section: Financing Climate Resilience Projectsmentioning

confidence: 99%

Managing Climate Change: The Role of Multi-Stakeholder Partnerships in Building Climate Resilience in Sub-Saharan Africa

Graham

2020

IJPS

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Research increasingly suggests that climate change has intensified the frequency of droughts, floods, and other environmental disasters across sub-Saharan Africa. In response to the resulting array of climate-induced challenges, various stakeholders are working collectively to build climate resilience in rural and urban communities and trans-continentally. This paper examines key climate resilience-building projects that have been implemented across sub-Saharan Africa through multi-stakeholder partnerships. It uses a vulnerabilities assessment approach to examine the strategic value of these projects in managing the mitigation of climate shocks and long-term environmental changes. There are still many challenges to building climate resilience in the region, but through multi-stakeholder partnerships, sub-Saharan African nations are expanding their capacity to pool resources and build collective action aimed at financing and scaling up innovative climate solutions. This article contributes to ongoing interdisciplinary academic, management, and policy discourses on global climate adaptation focused on populations and landscapes most at risk.

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Climate Change Risk and Insurance as an Adaptation Strategy: An Enquiry into the Regulatory Framework of South Africa and Ghana

Cited by 3 publications

References 38 publications

Determinants of uptake and strategies to improve agricultural insurance in Africa: a review

Determinants of uptake and strategies to improve agricultural insurance in Africa: a review

A systematic literature review: ESG criteria implementation in the Insurance industry

Managing Climate Change: The Role of Multi-Stakeholder Partnerships in Building Climate Resilience in Sub-Saharan Africa

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