Jonathan Hill

Three Funding Targets

Three Funding Targets

Rights Cities

Youth

to climate-induced migration induced
Migration is risky Risk is a key input in both financial and insurance instruments

Climate change is characterized by uncertain

No single financial vehicle covers all climate climateinduced migration scenarios

Instead, consider financial vehicles as a toolb

Policy recommendations aim to make toolbox more accessible and relevant

100 seconds

What needs to be funded?
Movement of people Disaster relief Data collection Protection of migrants Technology that benefits climate climate-induced migrants Education, information sharing Advocacy Assistance to host countries

Market-based funding mechanism based
Personal funding sources Remittances, savings, friends and family, loans Employer assistance with relocation to new job

• •

Microcredit / microenterprise lending

Small-size loans to help impoverished individua size gain ownership of assets and improve standar of living Community-based support systems based

Investments in development and adaptation

Any improvement in climate resilience reduc need for forced migration

Market-based funding mechanism based
Insurance High dependence on external aid

• •

Extremely low insurance penetration in Asia at a

Catastrophe-linked securities and related financia linked instruments (“Cat bonds”)

Feasible on any scale if transaction costs can b lowered by using standard forms Link to insurance market development Insurance packaged with microcredit and other development activities

Micro-insurance

(continued)
Used for a wide variety of risk management needs

eather derivatives

Have been adapted to development and aid aid-related uses Similar to insurance or a cat bond Payments linked to objective index of sea level Longer term imposes additional constraints on structure market

ea level risk transfer mechanism

• • •

Insurance/reinsurance typically on 1 1-year renewal cyc

Probably unaffordable with full collateralization like ca

Most attractive all around if liquid market is developed

climate-induced migration induced

limate change funds

Migration and refugee organization

isaster relief facilities

climate-induced migration induced
Climate change funds GEF and related funds Migration only beginning to enter the dialogue Not funding facilities per se, but migration assistance amounts to billions of US dollars UNHCR, IOM UN CERF, Red Cross/Red Crescent

• • •

Recent proliferation of new funds since UNFCCC in 1

Migration and refugee organizations

Disaster relief facilities

mechanisms

Climate change funds still developing game plans

Window of opportunity for migration issues to be considered

Difficult to estimate actual amount of funding avail Dependence on donors to meet funding needs

• •

Amount of funding determined after the need ar

Problems with too many funding facilities

Oversight more challenging, increasing potentia corruption Potential for both overlap and omissions

feasibility of a new fund
Climate-induced migration a multi induced multi-dimensional problem Cannot be addressed by a single fund

Purpose and funding criteria need to be well well-define

No obvious category of climate climate-induced migration scenarios that are outside the scope of public and i governmental funding mechanisms …but system is complex and gaps may emerge

Private funding mechanisms may be adapted to complement existing funding facilities

Objectives

Eliminate poverty Help marginalized groups Protect most vulnerable
Funding to enhance option to migrate or stay

nner-up: Disaster risk manageme up:
Raise awareness Pilot program: Urban disaster risk financing mechanisms in 3 countries

Establish a trust fund for DRM project targeting regional cooperation and gender equality

Three Funding Targets

Rights Cities

Youth

Youth

Biggest problems will emerge when today’s youth a adults

nvestments in education, skills, health have mos mpact in youth

Funding for temporary mobility through scholarship exchange programs for most vulnerable in vulnera  networks, resources to move

Young can support older generation who are more o stay behind voluntarily as livelihoods disappear

Cities

Migrants to cities expose themselves to different problems

Slums, high cost of living, debt

Cities need extra infrastructure, services, data to ca or both locals and migrants

Education, health, child care needs of working migr

Rights

Statements on migrant rights not realized, especial with undocumented migrants (internal and external

All other rights void without right to exist and be cou

Cold economic view – denial of rights has negative mpact on overall economy. Also hurts data, ability plan

Political land mine to try to implement migrant rights

Role of finance – marry development with migrant r

Deadweight loss that can (in some cases) be unloc by including migrants in development programs

Thank you.

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