Interlinked Climate & Energy Challenges

Modern Financial Tools, Poverty, and Climate Change 2008

Dec 30th 2008
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2008Dec30: Modern financial tools, the poor, and climate change.

2008Dec30: Raj Singh, writing in Newsweek, on the need to offer these populations more resilient, more modern financial tools to help the poor living in agricultural areas to cope with the unpredictability of climate change. There is a “pilot program now underway in Ethiopia. Initially the program will focus on the village of Adi Ha in Tigray, where 40 percent of all households produce teff, a cereal crop. The program aims to develop a comprehensive risk-management approach, including plans to reduce and spread risk. These include improving land-management practices and technology transfer and increasing market access for farmers to sell their crops. The relief-and-development agency Oxfam America will manage the project, build local partner organizations and implement measures to reduce risk, while the reinsurance company Swiss Re will advise on the commercial viability of certain aspects of the project and provide advice on risk-transfer schemes. The International Research Institute for Climate and Society at Columbia University will provide primary technical support for the project” (Newsweek, 2008).

Reference: Newsweek. http://www.newsweek.com/id/177251

Image Description: Semien Mountains in Ethiopia. Photo by Martino’s doodles, 2007Oct27. Image Location: Wikimedia Commons http://commons.wikimedia.org/wiki/File:Ethiopia_(1).jpg Image Permission: This file is licensed under Creative Commons Attribution ShareAlike 2.0 License.

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