The Conference of Parties is the supreme governing body of the African Risk Capacity (ARC) Agency, consistent of African Union member states that have signed the ARC Establishment Treaty and affirmed their belief in need for a pan-African solution to managing climate risk. The Conference of Parties hold sessions on an annual basis to collectively review the progress of ARC and determine the strategic direction of the agency.
16 ARC member states came together in March 2017 for the fifth session of the Conference of Parties, or CoP5, to adopt the ARC Programme of Work for 2017, elect members of the ARC Agency Governing Board, and review the activities and accomplishments from ARC’s 2015/2016 season
Highlights from CoP5 included:
- An agreement signed between ARC and African Development Bank to develop a new facility assisting ARC Member States with premium financing and facilitate access to insurance coverage
- The formation of a subcommittee to address the sustainability of funding sources for ARC insurance premiums;
- The introduction of ARC’s Outbreak and Epidemic pilot programme, funded by the Rockefeller Foundation, that will develop an insurance product to address financing needs in containing outbreaks of pathogens and diseases common to Africa;
- Madagascar's signing of a partnersh
- The attendance of a farmers’ group, the Network of Peasant Organizations and Producers in West Africa (ROPPA), for the first time to a session of the Conference of Parties