COP 31: UN launches $3 billion disaster financing platform, brings together its six agencies

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The UN Disaster Risk Financing Platform aims to make financing more predictable, allowing governments and humanitarian agencies to act ahead. | World News

The United Nations on Thursday launched a new disaster risk financing platform at COP31 in Turkey's Antalya, aiming to secure access to more than $3 billion to protect 75 million people and their livelihoods from climate shocks by 2030.

Bringing together six UN agencies, the initiative seeks to address a major gap in humanitarian response. Less than 2% of global humanitarian financing is currently arranged in advance, leaving agencies heavily dependent on funds mobilised after disasters strike.

The UN Disaster Risk Financing Platform aims to make financing more predictable, allowing governments and humanitarian agencies to act ahead of floods, droughts, storms and other extreme weather events, rather than waiting for a crisis to unfold.

It will bring together the expertise and data of the Food and Agriculture Organisation (FAO), the International Organisation for Migration (IOM), the UN Office for the Coordination of Humanitarian Affairs (OCHA), UNICEF, the UN Refugee Agency (UNHCR) and the World Food Programme (WFP). It will also work with insurance companies and financial markets to expand access to pre-arranged financing and reduce the cost of such interventions.

The platform has already delivered initial results, with OCHA and UNICEF implementing insurance policies to provide a financial safety net for their anticipatory action programmes, supported by specialist insurance teams at WFP. IOM will contribute its expertise in displacement risk analysis, helping identify communities that can be protected before disasters force them to leave their homes.

"Disasters are increasingly predictable, yet the financing needed to act ahead of them remains slow and fragmented," director of financing and outreach at OCHA, Lisa Doughten, said.

She said pre-arranged finance, deployed at scale and before crises escalate, was essential to better protect vulnerable communities and reduce humanitarian impacts.

The launch came on a day when the summit also saw renewed calls to accelerate…

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