What Global Shield against Climate Risks does

The Global Shield against Climate Risks is a multilateral initiative jointly launched by the Vulnerable Twenty (V20) Group of Finance Ministers and the Group of Seven (G7) at COP27 in November 2022. It provides and facilitates pre-arranged, rapid-disbursement finance for climate-vulnerable countries facing escalating losses from storms, droughts, and floods. The platform runs an In-Country Process coordinated with each beneficiary's Ministry of Finance, producing tailored support packages based on country-specific climate and disaster risk assessments. Its primary beneficiaries are the 58 V20 economies representing roughly 1.5 billion people, with active engagement in 13+ countries plus Pacific region states such as Fiji, Tonga, and the Solomon Islands.

The initiative's core offering consists of Climate and Disaster Risk Finance and Insurance (CDRFI) instruments, including sovereign parametric insurance, forecast-based financing, trigger-based disbursements, and adaptive social protection linkages. These are delivered through three complementary financing vehicles: the Global Shield Solutions Platform (GSSP), the Global Shield Financing Facility (GSFF) hosted at the World Bank, and the CVF-V20 Joint Multi-Donor Fund. The Programme for Resilient Risk Pools (GSRRP) channels premium and capital support to regional risk pools including African Risk Capacity, CCRIF SPC, the Pacific Climate Resilience Insurance Centre (PCRIC), and SEADRIF, while a partnership with the Global Risk Modelling Alliance (GRMA) provides open-source risk modelling tools.

The Global Shield is not a commercial entity and has no revenue model. It is funded entirely by donor pledges, with approximately EUR 350 million committed by November 2024, led by Germany's EUR 170 million seed contribution. Its Secretariat is hosted by Frankfurt School of Finance & Management as of January 2026, under Director Marike Brady, and co-chairs currently include Barbados (V20) and Germany (G7). The COP28 decision text explicitly welcomed the Global Shield as a funding arrangement for loss and damage under the UNFCCC framework, giving it institutional legitimacy within the international climate finance architecture.

Name

Global Shield against Climate Risks

Legal name

Frankfurt School of Finance & Management gemeinnützige GmbH

Website

https://globalshield.org

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

The Global Shield against Climate Risks is a joint G7/V20 multilateral initiative providing pre-arranged climate finance and parametric insurance instruments to climate-vulnerable countries through coordinated financing vehicles and regional risk pools.

Ownership category

akta.pro rank

Product category

Climate Risk Finance and Disaster Risk Insurance

NAICS

Insurance Carriers and Related Activities (524), Reinsurance Carriers (524130)

SIC

Fire, Marine & Casualty Insurance (6331), International Affairs (9721)

akta.pro primary industry

Resilience Finance & Risk Transfer Analytics (Parametric Design, Cat Bonds, Public Risk Pools) (EUABALAK)

akta.pro secondary industries

Asset- & Location-Level Exposure/Vulnerability Analytics (Geospatial, Digital Twins, Critical Infrastructure) (EUABALAC), Adaptation & Resilience Planning Platforms (CAPEX Prioritization, Cost–Benefit, NBS) (EUABALAH), Financial Climate Stress Testing & Portfolio Analytics (Banks, Asset Managers, Insurers) (EUABALAE)

Keywords

• Climate risk finance
• Disaster risk insurance
• Parametric insurance
• Climate vulnerability protection
• Pre-arranged climate finance

Headquarters

HQ city

Frankfurt am Main

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Government and Donor Contributions: The Global Shield is funded by contributions from G7 countries, bilateral donors, multilateral institutions, and other supporting partners. Initial contributions included approximately EUR 170 million from Germany (seed contribution), EUR 35 million core funding from Denmark, EUR 10 million from Ireland, USD 7 million from Canada, and EUR 20 million from France. By November 2024, approximately EUR 350 million had been raised in total funds.
2. Financing Structure Vehicles: The Global Shield operates through three complementary financing vehicles: the Global Shield Solutions Platform (builds on InsuResilience Solutions Fund), the Global Shield Financing Facility at the World Bank, and the CVF-V20 Joint Multi-Donor Fund, which collectively channel donor funds to support packages.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels7 records

Core offering

The Global Shield against Climate Risks is a joint G7/V20 initiative that provides and facilitates pre-arranged climate and disaster risk finance for climate-vulnerable countries through CDRFI instruments (sovereign parametric insurance, forecast-based financing, trigger-based disbursements, micro-insurance) and adaptive social protection linkages. It operates an In-Country Process to assess country-specific risks and design tailored support packages, channeled through three financing vehicles: the Global Shield Solutions Platform, the Global Shield Financing Facility (World Bank), and the CVF-V20 Joint Multi-Donor Fund. The initiative also supports regional risk pools to enable affordable parametric insurance for Pacific Island, African, Caribbean, and Southeast Asian countries.

Product overview

The Global Shield against Climate Risks is a joint G7/V20 initiative that operates as a coordination and financing platform rather than a single product. It provides pre-arranged finance instruments through three complementary financing vehicles: the Global Shield Solutions Platform (GSSP), the Global Shield Financing Facility (GSFF), and the CVF & V20 Joint Multi-Donor Fund. The initiative centers on an In-Country Process methodology through which countries access tailored support packages. Key offerings include Climate and Disaster Risk Finance and Insurance (CDRFI) instruments, the Programme for Resilient Risk Pools, SMART Premium and Capital Support mechanisms, and linkages between climate finance and adaptive social protection systems. The platform works with regional risk pools including African Risk Capacity (ARC), CCRIF SPC, PCRIC, and SEADRIF to deliver parametric insurance and sovereign protection products.

Differentiator

Problem solved

Functional benefit

Products and services

• Global Shield against Climate Risks Initiative A joint G7/V20 initiative that provides pre-arranged finance instruments to help climate-vulnerable countries close financial protection gaps against climate and disaster risks. It operates as a coordination and financing platform offering tailored support packages to national governments.
• In-Country Process (ICP) An inclusive, country-led process that assesses country-specific climate risks and financial protection needs to develop tailored support packages for vulnerable populations. Facilitated by the Global Shield Secretariat through multi-stakeholder workshops, gap analyses, and submission of a Request for Support.
• Global Shield Solutions Platform (GSSP) One of three Global Shield financing vehicles that promotes development of innovative financial solutions and fosters climate risk understanding in vulnerable countries. Operationalises the Global Shield Programme for Resilient Risk Pools (GSRRP).
• Global Shield Financing Facility (GSFF) A financing vehicle hosted at the World Bank that provides funding for climate and disaster risk finance implementation and Disaster Risk Finance-Linked Adaptive Social Protection work.
• CVF & V20 Joint Multi-Donor Fund A financing vehicle supporting the Climate Vulnerable Forum and V20 member countries in accessing climate protection resources, collective channel for donor contributions on the V20/CVF side.
• Global Shield Programme for Resilient Risk Pools (GSRRP) A support mechanism under GSSP that provides Climate and Disaster Risk Finance and Insurance (CDRFI) interventions to Regional Risk Pools (ARC, CCRIF SPC, PCRIC, SEADRIF), offering premium and capital support to improve accessibility and affordability of parametric insurance products.
• Climate and Disaster Risk Finance and Insurance (CDRFI) Instruments Pre-arranged finance instruments including sovereign insurance, parametric insurance, forecast-based financing, contingency credit, and social protection linkages designed to provide rapid funding during climate disasters. Includes both macro-level sovereign insurance and micro-insurance schemes.
• SMART Premium and Capital Support (PCS) Framework A framework developed under InsuResilience for designing and implementing premium and capital support schemes that enhance risk transfer affordability and address implementation barriers in climate-vulnerable countries.
• Adaptive Social Protection Linkages Integration of pre-arranged climate finance with national social protection systems to enable faster, more targeted assistance to vulnerable populations during climate shocks. Co-developed with WFP and the World Bank.

Quantifiable outcome

• Ghana received its first-ever sovereign drought insurance payout from African Risk Capacity (ARC) to address impacts of recent droughts, demonstrating the trigger-based payout mechanism.
• +4 more outcomes

Named customers15 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

15 partnerships are on record, tiered core and minor.

• Insurance Development Forum (IDF) - New PartnershipcoreStrategic or Co-development Partner · 25 June 2025In June 2026, the Global Shield announced a new partnership with the Insurance Development Forum to strengthen climate and disaster risk insurance markets and support vulnerable countries in accessing insurance solutions. This builds on prior IDF collaboration.
• Insurance Development Forum (IDF)coreStrategic or Co-development Partner · 3 December 2023The Insurance Development Forum (IDF) is a strategic partner of the Global Shield, co-developing the Global Risk Modelling Alliance (GRMA) with the V20. IDF provides risk analytics, modelling support, and expertise in insurance market development. Its Chair of the Operating Committee participates in Global Shield Board meetings and the IDF has conducted research demonstrating climate risk exposure for Small Island Developing States.
• African Risk Capacity (ARC)coreStrategic or Co-development Partner · 3 December 2023African Risk Capacity is a regional risk pool providing sovereign parametric insurance products to African countries. ARC issued Ghana's first sovereign drought insurance policy with premium support from Global Shield. ARC's CEO participated in the launch of the Global Shield Programme for Resilient Risk Pools, emphasising the need for investment in early warning systems and loss and damage funding arrangements.
• Pacific Catastrophe Risk Insurance Company (PCRIC)coreStrategic or Co-development Partner · 3 December 2023PCRIC is the Pacific regional risk pool receiving USD 10 million in premium support from the Global Shield Solutions Platform to subsidise insurance premiums for member countries and extend new policy coverage. PCRIC's CEO has highlighted the importance of international cooperation to improve affordability and technical capacity for Pacific Island States.
• CCRIF SPC (Caribbean Catastrophe Risk Insurance Facility)coreStrategic or Co-development Partner · 3 December 2023CCRIF SPC is a Caribbean regional risk pool providing sovereign parametric insurance against tropical cyclones and other perils. Nicaragua received a payout of USD 8.9 million from CCRIF following a 2022 tropical storm, demonstrating the value of regional risk pooling for climate-vulnerable Caribbean states.
• Southeast Asia Disaster Risk Insurance Facility (SEADRIF)coreStrategic or Co-development Partner · 3 December 2023SEADRIF is a Southeast Asian regional risk pool whose Executive Director has highlighted the Global Shield's comprehensive approach to scaling up disaster risk finance and the need for closer engagement with risk pools as building blocks of the international financial architecture.
• Global Risk Modelling Alliance (GRMA)coreStrategic or Co-development Partner · 3 December 2023The GRMA is a strategic alliance between the V20 and IDF, providing open risk management tools, technical assistance, and funding for open climate and disaster risk models and data. GRMA plays a key role in country gap analyses, helping governments assess climate hazards and protection gaps, and integrates with the Global Shield's In-Country Process.
• World Bank GroupcoreStrategic or Co-development PartnerThe World Bank hosts the Global Shield Financing Facility (GSFF), one of the three financing vehicles under the Global Shield. The World Bank also co-convenes roundtables with the Global Shield and V20 on climate and disaster risk financing at scale. The World Bank and WFP collaborated with Global Shield on a joint policy note on Disaster Risk Finance-Linked Adaptive Social Protection.
• World Food Programme (WFP)coreStrategic or Co-development PartnerWFP collaborates with the Global Shield on integrating CDRFI instruments with national social protection systems. WFP and the Global Shield co-hosted a webinar on Disaster Risk Finance-Linked Adaptive Social Protection in June 2025, producing a joint policy note. WFP channels portions of parametric insurance payouts through social protection mechanisms.
• United Nations Development Programme (UNDP)coreImplementation/ SI/ Consulting PartnerUNDP serves as an in-country support structure for Global Shield country engagements. UNDP Pakistan supported the launch of Pakistan's In-Country Process in November 2023, providing coordination and technical support alongside the Ministry of Climate Change and Environmental Coordination.
• Frankfurt School of Finance & ManagementcoreStrategic or Co-development PartnerFrankfurt School of Finance & Management gemeinnützige GmbH hosts the Global Shield Secretariat from January 2026, providing institutional support and hosting services. The Secretariat is the operational hub of the Global Shield, led by Director Marike Brady. Frankfurt School also provides research support, as demonstrated by research associates contributing to Global Shield publications.
• V20 Group of Finance MinisterscoreStrategic or Co-development PartnerThe Vulnerable Twenty Group of Finance Ministers is a co-founder and co-chair of the Global Shield alongside the G7. V20 represents 58 climate-vulnerable economies and provides political leadership, country engagement, and demand-side coordination. The V20 Chair holds one of the two Global Shield Co-Chair positions.
• United Nations Capital Development Fund (UNCDF)minorStrategic or Co-development PartnerUNCDF partnered with the Government of Fiji on a climate risk parametric micro-insurance scheme for low-income households in the Pacific, the first of its kind in the region. This initiative links climate micro-insurance with social protection delivery mechanisms.
• Climate Vulnerable Forum (CVF)coreStrategic or Co-development PartnerThe Climate Vulnerable Forum is a heads of state forum of 70 member countries that convenes under the auspices of the V20 Finance Ministers. CVF and V20 jointly operate through the CVF-V20 Secretariat, and the Global Shield is integral to the CVF-V20's financial protection agenda. Barbados, as CVF-V20 President, assumed Global Shield co-leadership.
• Overseas Development Institute (ODI)minorStrategic or Co-development PartnerODI designed the premium allocation methodology for the Global Shield's contribution to PCRIC, based on the SMART Principles for Premium and Capital Support. ODI's methodology provides a transparent, quantitative approach for allocating premium subsidies across Pacific Island Countries.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Pacific Catastrophe Risk Insurance Company (PCRIC): Regional risk pool providing parametric insurance to Pacific Island Countries. Directly comparable because it received a USD 10M Global Shield premium support contribution and serves as the operational channel for the Pacific regional approach.
• Southeast Asia Disaster Risk Insurance Facility (SEADRIF): ASEAN+3 regional disaster risk insurance facility providing parametric insurance and financial protection products. Directly comparable as one of the four regional risk pools the Global Shield supports and coordinates with.
• CCRIF SPC (Caribbean Catastrophe Risk Insurance Facility): Caribbean regional risk pool providing parametric insurance to member governments against hurricanes, earthquakes, and excess rainfall. A direct delivery partner of the Global Shield — Nicaragua's USD 8.9M CCRIF payout after a 2022 tropical storm is cited as a model for the protection the Global Shield aims to scale.
• African Risk Capacity (ARC): Specialized African Union agency providing sovereign parametric insurance against drought and tropical cyclones. Directly comparable to the Global Shield because it is one of the four regional risk pools the Global Shield explicitly supports through premium/capital subsidies, and delivered Ghana's first sovereign drought insurance via the Global Shield framework.

Broad incumbents

• Munich Re: One of the world's largest reinsurers, active in climate and disaster risk analytics and parametric insurance. Comparable as a broad incumbent operating in the climate risk transfer space, with overlapping capabilities in catastrophe modeling and risk pools that the Global Shield leverages at scale.

Emerging players

• InsuResilience Global Partnership: Multi-stakeholder partnership coordinating Climate and Disaster Risk Finance and Insurance (CDRFI) initiatives globally. Comparable because the Global Shield emerged from and builds on InsuResilience — the SMART Premium and Capital Support framework and the Global Shield Solutions Platform both originated within this partnership.
• Insurance Development Forum (IDF): Public-private partnership of insurers coordinating on climate and disaster risk finance in emerging markets. Comparable because it co-develops the Global Risk Modelling Alliance with the Global Shield and V20, and signed a new partnership in June 2026 to strengthen climate insurance markets — overlapping mandate around risk analytics and market development.
• Centre for Disaster Protection: UK-based organization focused on improving pre-arranged finance and disaster risk management for vulnerable countries. Comparable because it operates in the same pre-arranged climate finance space, conducts research, and is referenced as a builder of the disaster risk finance ecosystem the Global Shield coordinates.
• Blue Marble Microinsurance: Social enterprise providing parametric and micro-insurance to climate-vulnerable communities in emerging markets. Comparable because it operates in the same climate micro-insurance space as the Global Shield's Fiji/UNCDF micro-insurance scheme, addressing the demand-side gap for low-income household protection.

Others

• World Food Programme (WFP) Climate Risk Insurance: UN agency operating climate risk insurance and adaptive social protection programmes. Comparable as an implementing partner that channels portions of parametric payouts (e.g., Nicaragua's CCRIF) into social protection systems — directly aligned with the Global Shield's adaptive social protection linkages pillar.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/TheGlobalShield
• YouTubeyoutube.com/channel/UC8IEdQ-fuvh8tr3aLizrQDQ
• LinkedInlinkedin.com/company/globalshieldagainstclimaterisks

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Global Shield against Climate Risks