Lima to Paris Action Agenda mobilizes fund to protect vulnerable

Lima to Paris Action Agenda

The Lima to Paris Action Agenda is mobilizing large-scale financing to protect people who the most vulnerable from climate impacts.

The announcement was made under the Lima-Paris Action Agenda in the second part of the “Resilience Focus” event, dedicated to building more resilient societies and economies for people who are vulnerable to climate change impacts.

Extreme climate already impacts hundreds of millions of people every year, undermining or destroying their livelihoods, their homes and their environment.

The Rockefeller Foundation estimates that over the last 30 years, $1 out of every $3 spent on development has been lost as a result of such recurring crises, a total loss of $3.8 trillion worldwide. In contrast, resilient societies and economies suffer less and recover more quickly from such natural disasters.

The initiatives in the Resilience Focus cover the full spread of people’s needs as they face increasing climate impacts, underling the fact that building effective resilience cannot be achieved in a disconnected fashion.

For example, giving people early warning of extreme climate events may save their lives, but there is no additional economic benefit if they cannot get insurance in the first place.

The initiatives include providing early warning systems for over 50 least developed countries and small island states; providing access to insurance to 400 million vulnerable people in 5 years; increasing resilience for local communities in the Sahara and Sahel

The World Bank will allocate investments amounting to USD 2.2 billion for the Great Green Wall and Lake Chad. Further US$ 150 million partnership looks to mobilize more funding for Africa and Asia

The Global Resilience Partnership (GRP) has committed US$ 150 million, with a goal to build resilience in the Sahel, the Horn of Africa, and South and Southeast Asia.

The European Union announced today a contribution of €125 million to finance emergency actions in countries affected by the extreme weather phenomenon ‘El Niño’ in Africa, the Caribbean, Central and South America.

A new initiative called A2R (anticipate, absorb, reshape) has been launched to build climate resilience in the world’s most vulnerable countries by UN Secretary-General Ban Ki-moon and 13 members within the UN system.

The LPAA initiatives addressing RESILIENCE Vulnerability & People are: Great Green Wall for the Sahara and Sahel Initiative (GGWSSI), Climate Risks and Early Warning Systems – CREWS,  G7 Insurance Resilience Initiative, Food Security Climate Resilience Facility, Rural Resilience Facility R4, Global Resilience Partnership, and A2R Anticipate Absorb Reshape.

Rajani Baburajan

editor@greentechlead.com