The African Trade and Investment Development Insurance (ATIDI), a pan-African multilateral development insurer, has officially published its Climate Change Policy.
The policy outlines ATIDI’s comprehensive framework to manage climate-related risks and increase support for climate conscious investments, among others. The policy will be reviewed at least every three years, or earlier if necessary.
According to a press statement by ATIDI, the policy is guided by the principles of the Paris Agreement and the United Nations Framework Convention on Climate Change, and supports the Nationally Determined Contributions of its member States.
Among other initiatives, the Policy outlines ATIDI’s commitment to:
- Mainstreaming climate risk assessment into its business operations, including underwriting, risk analysis and product design.
- Supporting clean energy projects by increasing financing and insurance for renewable energy.
- Encouraging clients, especially those in carbon-intensive sectors, to monitor and reduce emissions, with emphasis on voluntary carbon market participation.
Other commitments include:
- Prioritising support for renewable energy sectors such as hydropower, solar, wind, geothermal and bioenergy.
- Development of a Climate Risk Assessment Framework to guide due diligence and transaction screening.
“Africa faces disproportionate impacts from climate change,” said Clement Yapo, Senior ESG Officer at ATIDI.
“With this Policy, ATIDI is not only safeguarding its business but is actively contributing to building climate resilience and unlocking climate-aligned investment opportunities across the continent.”
ATIDI CEO Manuel Moses said, “Our climate change policy sets out the requirements for managing climate-related risks across our portfolio. It calls on us to increase our contribution to combating climate change through the transactions we cover, and reinforces our commitment to playing a major role in efforts to mitigate the impacts of climate change in Africa.”
A robust internal framework is in place to ensure that climate-related risks and opportunities are systematically integrated across ATIDI’s business lines.