Triple P Capital invests in projects that help communities adapt to and prepare for climate change while also increasing their resilience against its effects. We use insurance to protect people and assets from climate events and encourage risk-reducing behaviours while enhancing market resilience.
Triple P's Portfolio Companies' Climate Adaptation Actions
• Covered 55,992 smallholder farmers in Cambodia through weather index crop insurance policies
• Covered VND 56.9 b of losses arising from natural catastrophes in Vietnam in 2022
• Launching pilot programs for agricultural insurance for rice farmers and green motor insurance
• All insurers invest responsibly by excluding coal-related securities and other businesses with negative environmental or social impact
intentionally focusing on investments that promotes climate adaptation
The climate protection gap in Southeast Asia is significant
In 2023, 91% of the $65 billion in natural catastrophe losses were not insured
Triple P's target markets have some of the largest "insurance gaps" globally, highlighting the critical need for better insurance coverage in these under-protected markets
Triple P will support climate adaptation by tracking the contribution to EU taxonomy criteria for non-life insurance, and use ASPIRE metrics to monitor climate adaptation contributions for other investments.
EU Taxonomy
The EU Taxonomy system enables companies and investors to identify environmentally sustainable economic activities and make "sustainable investment" decisions. The EU Taxonomy classifies non-life insurance as an activity that contributes to climate adaptation with five criteria for assessing its impact on climate adaptation.
EU Taxonomy: five criteria for insurance's contribution to climate adaptation
- 1. Leadership in modelling and pricing of climate risks
- 2. Product design
- 3. Innovative insurance coverage solutions
- 4. Data sharing
- 5. High level of service in post-disaster situations