Over the last decade, the dramatic consequences of climate change induced disasters have significantly widened the crisis protection gap, especially for FCA countries and vulnerable communities. The rising cost of these disasters pose increasing risks to sustainable development, particularly in low-income countries and the most vulnerable communities, leading to diminished resilience against shocks and exacerbated climate impacts.

Despite opportunities for action, climate finance has yet to be leveraged in a way that maximizes synergies between climate adaptation and humanitarian response in fragile states. This session will explore new inclusive, multi-stakeholder and cross-sector approaches that have been effective in financing responses and close the financing gap through innovative financing instruments.