Cases / Insurance, liability and compensation funds · Global · 2022
Only Ghana has an announced Global Shield guarantee as 17 countries wait
Short record: the main facts, with sources. A full case file has not been prepared.
Nature's voice · report
No measurement of the harm done to me here is on record.
Did nature suffer? Not measured.
By November 2024 only Ghana had an announced Global Shield guarantee, with 17 countries waiting and a German contribution of about 170 million euros reported. The sources reviewed do not describe any effect on nature.
What?
Global Shield, a climate risk insurance initiative, had only one announced guarantee, for Ghana, by late 2024. Digital Insurance (Bloomberg)
Where?
Global; Ghana is the only country with an announced guarantee Digital Insurance (Bloomberg)
When?
Status reported in November 2024 Digital Insurance (Bloomberg)
Who?
Gained
None on recordLost
None on recordHarmed
- Climate-hit countries in the queue — Waiting for guarantees; 17 countries were in the queue Digital Insurance (Bloomberg)
Why?
Not stated in the sources reviewed.
How?
Donor contributions, including about 170 million euros from Germany, fund premiums and guarantees. Digital Insurance (Bloomberg)
6 of 6 questions answered from the record
What happened
The record, in order.
Digital Insurance, citing Bloomberg, reported in November 2024 that Germany had contributed about 170 million euros to Global Shield.
The same report said 17 countries were in the queue, only Ghana had an announced guarantee, and Pacific premiums of 5.2 million euros had no breakdown.
BusinessDay reported in November 2022 that an AOSIS negotiator considered it unfair for insurers to profit from loss and damage.
In court and with insurers
Every proceeding and every insurer decision on record.
Lawsuits and rulings
No court case on record. No court has ruled on this case.
Insurers
No insurer decision on record.
What we don't know
Undisclosed, unproven, untried: recorded as data.
Nature
- Not measured Harm to nature: The record holds no measurement of harm to nature.
Record
- None on record Not stated in the sources reviewed: how much of the fund has been paid out, beyond the announced Ghana guarantee.
- None on record Not stated in the sources reviewed: the premium or guarantee amounts for each country in the queue.
- None on record Not stated in the sources reviewed: the fund's total size in a stated currency; the headline gives 370M without one.
Did the harm stop?
Not stated in the sources reviewed.
Who paid?
Not stated in the sources reviewed.
Sources
Voices on record: — Company or project— Government and regulators— Courts✓ Press and investigations— Communities and civil society— Researchers
Press and investigations
- Climate-hit nations wait years for 370M fund to deliverDigital Insurance (Bloomberg) · 2024-11
- G7 wants to profit from suffering, say critics of Global Shield planBusinessDay · 2022-11-14
Connected cases
Related matters, and cases linked to this one through the same organisations, with the role each played in both.
- Accra's Agbogbloshie scrap market demolished in July 2021 Ghana · 2021
- Government of Ghana (Government) — here: Only country with an announced guarantee; there: Made a relocation offer that the dealers rejected
- Germany agreed €2.6bn and €1.75bn coal exit payments to RWE and LEAG Germany · 2019–2023
- Government of Germany (Government) — here: Contributor (about 170 million euros); there: agreed to pay the compensation
- Germany pays 317 million euros in premiums to 11 coal plants, including Moorburg Germany · 2015–2020
- Government of Germany (Government) — here: Contributor (about 170 million euros); there: Government that paid the closure premiums
- Hyphen green hydrogen project (Namibia) Namibia · 2020–2026
- Government of Germany (Government) — here: Contributor (about 170 million euros); there: Declared Hyphen a strategic foreign project in 2024
- Poland takes Germany to EU court over 35,000 tonnes of illegal waste Poland · 2023–2024
- Government of Germany (Government) — here: Contributor (about 170 million euros); there: defendant