Climate Change, Environment, and Human Security Program

Could climate risk insurance reduce the cost of climate change adaptation in the Middle East?

As one of the hottest and driest spots globally, the Middle East region faces some of the worst impacts of climate change. Many of these events have not only been socially and politically devastating but have also resulted in huge financial losses for countries already experiencing economic insecurity. Countries in MENA have found themselves increasingly exposed to extreme weather events and natural disasters, which have affected more than 40 million people and cost more than $20 billion over the past 30 years, according to the World Bank. During the last five years alone, 120 disasters were recorded in the region, resulting in an average of $1 billion annually in damages and losses.