London, 5 September 2023 – Start Network is pleased to announce that Howden Group Foundation, the corporate foundation of Howden Group Holdings, joins the Swiss Re Foundation and other leading charitable organisations in supporting its work providing early access to disaster risk financing for frontline humanitarian groups.
The Howden Group Foundation has pledged £400,000 to Start Network in line with its commitment to support scalable and sustainable solutions that build the resilience of disproportionately affected communities to climate change around the world. The funds will contribute towards Start Ready, a unique financing mechanism that uses advanced planning so that funding can be rapidly released when a crisis hits.
Start Network hosts a wide range of risk-based, anticipatory and rapid-response funding that provides critical support to vulnerable populations. Its newest fund, Start Ready, pre-positions funding for crises that happen with regular and predictable patterns of recurrence, like floods, droughts, and heatwaves and empowers communities at risk to act before climate-related crises materialise. Over the next year, the commitment is to protect over 600,000 people in Senegal, Somalia, Democratic Republic of Congo, Madagascar, Pakistan, Bangladesh and the Philippines.
In July 2023, Start Ready released funding to communities in Cagayan Province, Philippines, in anticipation of Typhoon Doksuri following the forecasted breach of thresholds 55 hours before impact. The funds were allocated to a previously agreed framework to support anticipatory action and early response activities across three municipalities, including Camalaniugan, Baggao, and Gattaran. This support, ahead of the typhoon, meant that people’s lives and livelihoods were secured.
By investing in innovative ways of preparing for and managing climate hazards, we challenge the status quo and help communities access better ways of mitigating risk. The combination of pre-agreed disaster risk plans and pre-positioned funds allows traditional humanitarian response funding to stretch up to three times further, thereby protecting more people and more lives. I am thrilled that the Foundation can support the vital work of the Start Network as they strive to protect communities from the effects of climate shock.Clare Ballantine, Manager, Howden Group Foundation
As a network, we are seeing the impact of growing climate risks and unfortunately humanitarian funding is not keeping pace. Pre-emptive climate risk financing is revolutionising the humanitarian sector by making funding more efficient and effective. Start Ready draws on expertise and support from across many sectors, including the insurance sector, in order to protect at-risk people from climate risks. We are delighted that the Howden Group Foundation has offered their support to Start Ready.Sarah Klassen, Start Ready Manager, Start Network
About Howden Group Foundation
The Howden Group Foundation is a registered charity in England and Wales (Charity Number 1156286), supported by Howden Group Holdings and its employees. Established in 2014, the Howden Group Foundation extends the charitable work of Howden Group and its people around the world.
About Start Network
Start Network is made up of more than 80 non-governmental organisations across five continents, ranging from large international organisations to local and national NGOs.
Howden Group Holdings