Impact
A lack of access to meaningful risk data and financial solutions has created a massive protection gap in emerging economies. This gap inhibits investment and hampers resilience, which in turns hurts the poor and vulnerable who suffer the most when there is a natural disaster. GP provides the much needed information and financial tools so that communities can respond and recover quickly in the face of disasters.
One of the first things we did as a team to was to identify those United Nations’ Sustainable Development Goals (SDGs) where we believe we can make a difference. We hope to actively improve life in developing economies consistent with the following five SDGs:
No poverty
Financing made available during disasters reduces poverty by providing a financial cushion that keeps kids in school and workers employedGender equality
Many of our counterparts serve a predominantly female clientele; our products can provide a direct benefit to the well-being of women and their families in the event of a disasterClimate action
As the intensity and frequency of weather events increases with climate change, GP’s financial products and data analytics contribute to better planning and quicker responses. This includes specific hazard analysis such as drought, tropical cyclone, seismic and extreme heatPartnerships
A core objective of GP’s business development strategy is to partner with relevant organisations in humanitarian relief, the corporate sector, NGOs and governments to enable them to better service their constituentsIndustry, Innovation and Infrastructure
Financial protection results in business resilience and rapid recovery following disasters, often at a lower cost than traditional disaster response approachesThe institutions with which we do business are also committed to improving the security of their customers, so we look to partner with them for the purpose of preparing case studies, reviewing outcomes and sharing lessons learned. Global Parametrics is also active in the broader development community, contributing to an understanding of climate risk analysis and how to support the poor and vulnerable to become more financially resilient as weather events become more frequent and intense.