FGV’s Director of Research and Innovation analyzes climate change impacts on health in COP30 panel

The panel “Climate and Health: Redesigning Insurance for a Sustainable Future”, held on November 15 at the Insurance House during COP30, discussed how the climate crisis directly affects public health and challenges the insurance sector to innovate. Faced with global losses of US$280 billion in 2023, with only 40% insured, experts pointed out measures to expand protection for vulnerable populations and transform insurance into an active agent of climate resilience.

The discussion also brought to light an important topic at the conference: the link between climate and health, and how the insurance sector can help reduce vulnerabilities and accelerate sustainable solutions.

Gabriela Al-Cici, Vice President of Prudential do Brasil, opened the discussion by stressing that extreme weather events are no longer exceptions and will become increasingly frequent in people’s daily lives.

“When we talk about these events, we talk about frequency, intensity, and how they will increase as the climate crisis advances. This is not just an environmental agenda; it is a human agenda,” said the vice president, who moderated the panel.

Gabriela emphasized the interdependence between climate and health:

“The healthcare system is a byproduct of the climate system. When one is disrupted, the other follows. They are convergent. That’s why we want to discuss how the insurance sector can become not only a buffer against these impacts but also an accelerator of sustainable solutions, connecting climate, health, innovation, and climate justice.”

Goret Pereira Paulo, Director of Research and Innovation at Fundação Getulio Vargas (FGV), reinforced that the topic is particularly challenging in Brazil:

“Talking about the health of the Brazilian population has always been a challenge, even though we have the Unified Health System (SUS), which is a global reference. However, additional concerns arise with climate change.”

Goret presented estimates on the potential impacts of extreme climate events on primary healthcare systems:

“According to a World Bank report, each extreme climate event can reduce the capacity of primary healthcare systems by 25% to 50%. In some cases, this capacity can drop to zero. Recovery time can range from one to five years,” said Goret, who also serves on the Advisory Board of FGV’s Institute for Innovation in Insurance and Reinsurance (FGV IISR).

She also highlighted other impacts on the population:

“The estimated cost of these events for Latin America and the Caribbean ranges from $7 to $37 billion, with an estimated death toll between 32,100 and 165,000. But we are not talking only about deaths (which are always a tragedy to be avoided): there are long-term mental health impacts due to loss of livelihoods and forced displacement.”

Given SUS’s budget constraints, Goret advocated for partnerships:

“SUS alone cannot face these challenges. Cooperation with the private sector is essential, and the insurance industry plays a key role in protecting lives.”

Another critical point, according to the director, is the lack of data: “How many Brazilian cities have collection points to measure air quality?”

From the scientific side, Jean Pierre Ometto, senior researcher at the National Institute for Space Research (INPE), warned about the complexity of the scenario:

“We are moving into an environment unknown to society, with unprecedented intensity of events. These shocks materialize in impacts that exacerbate social inequalities and existing vulnerabilities.”

Finally, Luciana Dall’Agnol, Sustainability Superintendent at the National Confederation of Insurers (CNseg), highlighted the sector’s strategic role:

“We are talking about the country’s long-term resilience. The insurance sector relies on data and needs to educate policyholders and the population about this ‘new normal.’ The greater the protection gap, the less responsive the country will be after a major climate event.”

The full debate can be watched at this link.

Complete coverage of Fundação Getulio Vargas’ participation in COP30, including agendas, exclusive content, and contributions from the institution’s researchers to global climate action, is available on the FGV Climate Agenda Platform. The opinions expressed in this publication are the sole responsibility of the contributing researchers and do not necessarily reflect the official position of Fundação Getulio Vargas.