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Strengthening Financial Protection to address Climate Impacts. November 2023

https://docs.wfp.org/api/documents/WFP-0000154579/download/
Addressing the Global Food Crisis exacerbated by climate change requires bridging the 'protection gap.' Implementing pre-arranged climate and disaster risk financing, coupled with insurance mechanisms, can enhance resilience of vulnerable communities and countries and aid recovery.

The worsening climate crisis drives the Global Food Crisis, affecting 56.8 million people as of 2022. There is a significant disparity between the needed scale of greenhouse gas mitigation, societal adaptation capabilities, and the increasing losses from climate-related disasters. This divide, commonly termed the 'protection gap,' poses significant challenges for humanitarian organizations. In 2023, WFP faces a significant funding shortfall despite a US$25.1 billion appeal. 
 
WFP's Climate Risk Insurance (CRI) programmes have successfully provided rapid support, with stories from the field illustrating their effectiveness. This factsheet emphasizes a multi-pronged risk-layered approach and sets forth WFP's goal to expand CRI to 25 countries by 2025, ensuring a transformative opportunity for a more secure future.