As COP27 gets underway what’s most urgently needed is clear: accelerated investment in communities on the frontlines of the climate crisis.
At a make-or-break moment, the International Federation of Red Cross and Red Crescent Societies (IFRC) is launching today its Global Climate Resilience Platform to increase the resilience of communities most vulnerable to the changing climate.
The new initiative aims to support 500 million people by raising at least CHF1 billion through a five-year global initiative focusing on early warning and anticipatory action, nature-based solutions, and safety nets and shock responsive social protection.
Secretary General of the IFRC, Jagan Chapagain, says:
“We've launched the Global Climate Resilience Platform to create transformational change through an immense scale up of investment at the local community level, heeding the call for faster and broader efforts to address the climate crisis.
“Real sustainable change can only happen when the people impacted are driving decisions. Funding local climate action without having to go through multiple layers is crucial if we are to be truly successful in building resilience from the ground up.”
Through the platform, the IFRC network will support meaningful participation and the active leadership of women, local communities, Indigenous Peoples, youth and other marginalised and/or underrepresented groups in the development and implementation of locally led climate action in 100 countries most vulnerable to climate change.
President of the IFRC, Francesco Rocca, says:
"The critical challenge of this decade is how to support and finance climate resilience initiatives at a global scale. The key is found in the shift of power and resources to local actors.”
IFRC’s Making it Count: Smart Climate Financing for the Most Vulnerable People report has found that many highly vulnerable countries are not receiving the climate adaptation support they need and are being left behind. On average, they received less than a quarter of the adaptation funding per person that went to low or very low vulnerability countries.
In addition, only an estimated 10% of funding is granted at the local level as donors instead favour large-scale national infrastructure projects that risk missing the mark for local communities.
Under Secretary General of the IFRC, Nena Stoiljkovic, said the platform focused on the key areas that had been identified as having the most potential for transformative impact at scale through increased investment and were expected to generate multiple dividends, including—first and foremost—saving lives. She noted that the initiative will link sources of funding across humanitarian, development and climate funds as well as innovative financing mechanisms involving the private sector to meet its ambitious but critical targets.
Increased resilience also stimulates sustainable development and innovation and is a more efficient focus in humanitarian response: investing one dollar in climate resilience in communities can save six dollars of investments in disaster response.
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IFRC is the world’s largest humanitarian network, comprising 192 National Red Cross and Red Crescent Societies working to save lives, build community resilience, strengthen localization and promote dignity around the world.