Mount Merapi volcano spews hot lava as seen from Turi village in Sleman, Yogyakarta, Indonesia. File/Reuters
The Danish Red Cross has launched a catastrophe bond for volcano-related disasters with the support of several financial firms, the groups said on Monday, adding it was the first of its kind.
The $3 million bond will enable the disaster relief agency to get aid quickly to those suffering following the eruption of 10 named volcanoes, in Cameroon, Chile, Colombia, Ecuador, Guatemala, Indonesia and Mexico.
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Catastrophe bonds offer investors high yields, but do not pay out if a named catastrophe occurs. They typically cover areas prone to hurricanes and typhoons.
The Danish Red Cross worked with insurance group Howden, with risk modelling by Mitiga Solutions and blockchain technology from Replexus, the organisations said in a statement.
Initial investors include Plenum Investments, Schroder Investment Management and Solidum Partners.
The explosion caused a halt to trains in an area called Nordhavn, just north of the city centre. Two people were inside the tax agency's building but both were unharmed, police told Danish broadcaster TV2.
No casualties were reported, but an official had earlier urged people to stay at least 3 km from the crater, Indonesia’s Volcanology and Geological Hazard Mitigation Centre said.
The International Federation of Red Cross and Red Crescent Societies said about 2.3 million others were displaced by conflict in the same period, indicating the vast majority of internal displacements are now triggered by climate change.
Danish authorities also said that they did not say how many reports of blood clots there had been, but Austria has stopped using a batch of AstraZeneca shots while investigating a death from coagulation disorders and an illness from a pulmonary embolism.
The talks touched on the details of the UAE's response to climate change as well as ways of enhancing global cooperation and multilateral action in this field, in light of the country's hosting of COP28 later this year in Expo City Dubai.
Talking to Gulf Today, Gerald Jaideep, CEO Medvarsity, the organiser of the conference said that their online portal is the Asia’s largest online medical certification and training company with over 5,00000 certified graduates, offering 200 courses for doctors.
The Inter-Services Public Relations (ISPR), the media wing of the Pakistan Army, said on Saturday that the exchange of fire took place during a search operation in the Janikhel area of the district.