Index insurance and climate risk management: addressing social equity
Fair distribution of benefits from index insurance matters. Lack of attention to social equity can reinforce inequalities and undermine the potential index insurance holds as a tool for climate risk management that is also pro‐poor. The aims of this article are to: (a) examine social equity concerns raised by index insurance in the context of climate risk management, (b) consider how greater attention can be paid to social equity in index insurance initiatives, and (c) reflect on the policy challenges raised by taking social equity into account as a mechanism for climate risk reduction. The article draws on learning from the CGIAR's Research Program on Climate Change, Agriculture and Food Security (CCAFS) and presents the cases of the Index Based Livelihoods Insurance (IBLI) and Agriculture and Climate Risk Enterprise Ltd. (ACRE) in East Africa. It proposes a framework for unpacking social equity related to equitable access, procedures, representation and distribution within index insurance schemes. The framework facilitates identification of opportunities for building outcomes that are more equitable, with greater potential for inclusion and fairer distribution of benefits related to index insurance. The article argues that systematically addressing social equity raises hard policy choices for index insurance initiatives without straightforward solutions. Attention to how benefits and burdens of index insurance are distributed, suggests the unpalatable truth for development policy that the poorest members of rural society can be excluded. Nevertheless, a focus on social equity—facilitated by the framework—opens up opportunities to ensure index insurance is linked to more socially just climate risk management. At the very least, it may prevent index insurance from generating greater inequality. Taking social equity into account, thus, shifts the focus from agricultural systems in transition per se to systems with potential to incorporate societal transformation through distributive justice.
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Wiley
2019
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Subjects: | AGRICULTURAL SCIENCES AND BIOTECHNOLOGY, Climate Risk Management, Index Insurance, Inequality, Social Equity, SOCIAL CLASSES, AGRICULTURE, CLIMATE CHANGE, FOOD SECURITY, CLIMATE-SMART AGRICULTURE, |
Online Access: | https://hdl.handle.net/10883/19656 |
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dig-cimmyt-10883-196562021-02-09T18:24:52Z Index insurance and climate risk management: addressing social equity Fisher, E. Hellin, J.J. Greatrex, H. Jensen, N. AGRICULTURAL SCIENCES AND BIOTECHNOLOGY Climate Risk Management Index Insurance Inequality Social Equity SOCIAL CLASSES AGRICULTURE CLIMATE CHANGE FOOD SECURITY CLIMATE-SMART AGRICULTURE Fair distribution of benefits from index insurance matters. Lack of attention to social equity can reinforce inequalities and undermine the potential index insurance holds as a tool for climate risk management that is also pro‐poor. The aims of this article are to: (a) examine social equity concerns raised by index insurance in the context of climate risk management, (b) consider how greater attention can be paid to social equity in index insurance initiatives, and (c) reflect on the policy challenges raised by taking social equity into account as a mechanism for climate risk reduction. The article draws on learning from the CGIAR's Research Program on Climate Change, Agriculture and Food Security (CCAFS) and presents the cases of the Index Based Livelihoods Insurance (IBLI) and Agriculture and Climate Risk Enterprise Ltd. (ACRE) in East Africa. It proposes a framework for unpacking social equity related to equitable access, procedures, representation and distribution within index insurance schemes. The framework facilitates identification of opportunities for building outcomes that are more equitable, with greater potential for inclusion and fairer distribution of benefits related to index insurance. The article argues that systematically addressing social equity raises hard policy choices for index insurance initiatives without straightforward solutions. Attention to how benefits and burdens of index insurance are distributed, suggests the unpalatable truth for development policy that the poorest members of rural society can be excluded. Nevertheless, a focus on social equity—facilitated by the framework—opens up opportunities to ensure index insurance is linked to more socially just climate risk management. At the very least, it may prevent index insurance from generating greater inequality. Taking social equity into account, thus, shifts the focus from agricultural systems in transition per se to systems with potential to incorporate societal transformation through distributive justice. 581-602 2018-10-25T17:46:43Z 2018-10-25T17:46:43Z 2019 Article Published Version 1467-7679 https://hdl.handle.net/10883/19656 10.1111/dpr.12387 English CIMMYT manages Intellectual Assets as International Public Goods. The user is free to download, print, store and share this work. In case you want to translate or create any other derivative work and share or distribute such translation/derivative work, please contact CIMMYT-Knowledge-Center@cgiar.org indicating the work you want to use and the kind of use you intend; CIMMYT will contact you with the suitable license for that purpose. Open Access PDF EAST AFRICA Germany Wiley 5 37 Development Policy Review |
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AGRICULTURAL SCIENCES AND BIOTECHNOLOGY Climate Risk Management Index Insurance Inequality Social Equity SOCIAL CLASSES AGRICULTURE CLIMATE CHANGE FOOD SECURITY CLIMATE-SMART AGRICULTURE AGRICULTURAL SCIENCES AND BIOTECHNOLOGY Climate Risk Management Index Insurance Inequality Social Equity SOCIAL CLASSES AGRICULTURE CLIMATE CHANGE FOOD SECURITY CLIMATE-SMART AGRICULTURE |
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AGRICULTURAL SCIENCES AND BIOTECHNOLOGY Climate Risk Management Index Insurance Inequality Social Equity SOCIAL CLASSES AGRICULTURE CLIMATE CHANGE FOOD SECURITY CLIMATE-SMART AGRICULTURE AGRICULTURAL SCIENCES AND BIOTECHNOLOGY Climate Risk Management Index Insurance Inequality Social Equity SOCIAL CLASSES AGRICULTURE CLIMATE CHANGE FOOD SECURITY CLIMATE-SMART AGRICULTURE Fisher, E. Hellin, J.J. Greatrex, H. Jensen, N. Index insurance and climate risk management: addressing social equity |
description |
Fair distribution of benefits from index insurance matters. Lack of attention to social equity can reinforce inequalities and undermine the potential index insurance holds as a tool for climate risk management that is also pro‐poor. The aims of this article are to: (a) examine social equity concerns raised by index insurance in the context of climate risk management, (b) consider how greater attention can be paid to social equity in index insurance initiatives, and (c) reflect on the policy challenges raised by taking social equity into account as a mechanism for climate risk reduction. The article draws on learning from the CGIAR's Research Program on Climate Change, Agriculture and Food Security (CCAFS) and presents the cases of the Index Based Livelihoods Insurance (IBLI) and Agriculture and Climate Risk Enterprise Ltd. (ACRE) in East Africa. It proposes a framework for unpacking social equity related to equitable access, procedures, representation and distribution within index insurance schemes. The framework facilitates identification of opportunities for building outcomes that are more equitable, with greater potential for inclusion and fairer distribution of benefits related to index insurance. The article argues that systematically addressing social equity raises hard policy choices for index insurance initiatives without straightforward solutions. Attention to how benefits and burdens of index insurance are distributed, suggests the unpalatable truth for development policy that the poorest members of rural society can be excluded. Nevertheless, a focus on social equity—facilitated by the framework—opens up opportunities to ensure index insurance is linked to more socially just climate risk management. At the very least, it may prevent index insurance from generating greater inequality. Taking social equity into account, thus, shifts the focus from agricultural systems in transition per se to systems with potential to incorporate societal transformation through distributive justice. |
format |
Article |
topic_facet |
AGRICULTURAL SCIENCES AND BIOTECHNOLOGY Climate Risk Management Index Insurance Inequality Social Equity SOCIAL CLASSES AGRICULTURE CLIMATE CHANGE FOOD SECURITY CLIMATE-SMART AGRICULTURE |
author |
Fisher, E. Hellin, J.J. Greatrex, H. Jensen, N. |
author_facet |
Fisher, E. Hellin, J.J. Greatrex, H. Jensen, N. |
author_sort |
Fisher, E. |
title |
Index insurance and climate risk management: addressing social equity |
title_short |
Index insurance and climate risk management: addressing social equity |
title_full |
Index insurance and climate risk management: addressing social equity |
title_fullStr |
Index insurance and climate risk management: addressing social equity |
title_full_unstemmed |
Index insurance and climate risk management: addressing social equity |
title_sort |
index insurance and climate risk management: addressing social equity |
publisher |
Wiley |
publishDate |
2019 |
url |
https://hdl.handle.net/10883/19656 |
work_keys_str_mv |
AT fishere indexinsuranceandclimateriskmanagementaddressingsocialequity AT hellinjj indexinsuranceandclimateriskmanagementaddressingsocialequity AT greatrexh indexinsuranceandclimateriskmanagementaddressingsocialequity AT jensenn indexinsuranceandclimateriskmanagementaddressingsocialequity |
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1756086760684650496 |