Swiss Re and Oxfam America Launch Joint Risk Management Initiative for Farmers in Tigray, Ethiopia
Corporate Social Responsibility Press Release
provided by 
9.26.2008 - 11:26am ET
News from:
Oxfam America
Swiss Re and Oxfam America Launch Joint Risk Management Initiative for Farmers in Tigray, Ethiopia
(CSRwire) New York, NY. - September 26, 2008 – Swiss Re and Oxfam America
have announced a joint Commitment to Action at the Clinton Global
Initiative (CGI) 2008 meeting in New York on 23 – 26 September. The
collaboration is aimed at helping communities most vulnerable to climate
variability and change. The project focuses on an innovative pilot
project to introduce weather insurance for a staple cereal crop in the
village of Adi Ha, Tigray Regional State, Ethiopia.
Drought-related risks are a primary concern throughout Ethiopia where 85%
of the population is dependent on smallholder, rain-fed agriculture. Adi
Ha is a drought-prone community that has expressed strong interest in
incorporating insurance into its risk management strategy.
The pilot will adopt a holistic approach to risk management, examining the
suitability of weather insurance and risk reduction measures such as
seasonal forecasting and improved agricultural practices. All efforts will
be undertaken in close collaboration with the local farming community with
the overall objective of alleviating poverty.
The efforts will be funded by Swiss Re and Oxfam America, with primary
technical support being provided by the International Research Institute
for Climate and Society at Columbia University. Ivo Menzinger, Head of
Sustainability & Emerging Risk Management, commented, "Swiss Re is
delighted to support Oxfam in implementing this fundamental and important
work in the Tigray Province. In particular, we can combine our commitment
to corporate citizenship with providing consulting support to the project
on risk transfer issues."
Swiss Re has pioneered weather risk transfer instruments in developing
countries, starting in India in 2004 with a program reaching over 350,000
smallholder farmers. In 2007, Swiss Re introduced the Climate Adaptation
Development Programme (CADP). The goal of the CADP partnership is to
develop and implement weather risk transfer solutions in non-OECD
countries.
Oxfam America President Raymond C. Offenheiser said: "This pilot offers a
chance for smallholder farmers to become more resilient to changing
weather patterns. It's an opportunity to increase the impact of Oxfam's
risk reduction programmes and explore exciting innovations in
weather-based microinsurance..."
Over the last 35+ years, Oxfam America has worked to bolster the capacity
of poor communities around the world to reduce vulnerability.
Nevertheless, climate change is dramatically increasing the level of risk
faced by the poor across the planet. For this reason, Oxfam America is
interested in developing new mechanisms to address risk for poor
farmers.
For more information contact Helen DaSilva at Oxfam America, hdasilva@oxfamamerica.org or
617-331-2984, or Hunter Hoffman at Swiss Re, 914-828-8256.
Notes to editors:
Swiss Reinsurance Company Ltd
Swiss Re is a leading and highly diversified global reinsurer. The company
operates through offices in more than 25 countries. Founded in Zurich,
Switzerland, in 1863, Swiss Re offers financial services products that
enable risk-taking essential to enterprise and progress. The company’s
traditional reinsurance products and related services for property and
casualty, as well as the life and health business are complemented by
insurance-based corporate finance solutions and supplementary services for
comprehensive risk management. Swiss Re is rated "AA-" by Standard &
Poor's, "Aa2" by Moody’s and "A+" by A.M. Best.
Oxfam America
Oxfam America is an international relief and development organization that
creates lasting solutions to poverty, hunger, and injustice. Together with
individuals and local groups in more than 120 countries, Oxfam saves
lives, helps people overcome poverty, and fights for social justice. To
join our efforts or learn more, go to: www.oxfamamerica.org.
International Research Institute for Climate and Society at Columbia
University
The IRI's mission is to enhance society's capability to understand,
anticipate and manage climate-related risks and opportunities in order to
improve human welfare and the environment, especially in developing
countries. By providing practical advancements for managing current risks,
we are creating solutions that will increase adaptability to long term
climate change. IRI is a member of the Earth Institute at Columbia
University. To learn more, please visit: www.iri.columbia.edu.
For more information please contact:
Helen DaSilva
Oxfam America
617-331-2984
617-331-2984
www.oxfamamerica.org
Hunter Hoffman
Swiss Re
914-828-8256
914-828-8256
www.swissre.com
www.oxfamamerica.org
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Environment and Sustainability
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