The 2010 Cancun Agreement calls for enhanced action on climate change adaptation, with significant focus on the role of insurance and other risk transfer mechanisms in adaptation. It establishes the Cancun Adaptation Framework (CAF), which has the objective of enhancing action on adaptation. There are nine action areas for adaptation set forth in the CAF. One of these action areas is enhancing climate related disaster risk reduction strategies, taking into the account the Hyogo Framework for Action. This action area specifically promotes risk assessment and management as well as sharing and transfer mechanisms such as insurance at local, national, subregional, and regional levels. The establishment of Europa Re is consistent with many of the climate change adaptation activities promoted in the Cancun Agreement. Lessons learned from the establishment of Europa Re can provide inputs for the Agreement’s requested work on strengthening international cooperation and expertise to understand and to reduce loss and damage associated with the adverse impacts of climate change.

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