Outcomes of the Action Event at COP 24 Scaling up investments in climate resilience to meet the needs of vulnerable people

The COP 24 Climate Resilience roundtable emphasized the urgent need to scale up investments in adaptation and resilience, particularly for Small Island Developing States (SIDS) and Least Developed Countries (LDCs). The document outlines a roadmap of priority actions from 2020 to 2050, advocating for people-centered, nature-based solutions and the development of shared resilience metrics to attract private sector capital. Key commitments include the LDC Initiative for Effective Adaptation and Resilience (LIFE-AR) and various financial pledges from the Nordic Development Fund and Bank of America.

• There is an urgent need to scale up climate investments across multiple sectors, specifically energy, land use and ecosystems (including oceans), infrastructure, industry, and human settlements, with a priority on Small Island Developing States (SIDS), Least Development Countries (LDCs), and other countries vulnerable to climate extremes.
• The roundtable identified a significant finance gap for adaptation, which could reach USD 300 billion per year by 2030, and recommended using blended finance to attract private sector investment for vulnerable communities.
• Participants proposed several short-term priority actions for 2020, including the implementation of climate risk insurance and social protection to cover 400 million poor and vulnerable people via the InsuResilience Global Partnership, and the scaling of Forecast Based Financing (FbF) and Early Warning –Early Action (EWEA).
• Nature-based Solutions (NbS) and the protection of ecosystems are highlighted as critical for resilience; specifically, wetlands are noted as a primary defense against floods, droughts, and storms, though they are disappearing three times faster than natural forests.
• Specific institutional commitments were announced, including the LDC Group's LIFE-AR initiative for a climate resilient future by 2050, a EUR 10 million commitment from the Nordic Development Fund to the CRAFT facility, and a $60 million Blended Finance Catalyst Pool from Bank of America.
• A major challenge identified is the lack of common metrics to track progress in building climate resilience, leading to a policy recommendation to develop harmonized sector-specific metrics and standards to be part of the UNFCCC Guidelines on Adaptation by 2022.

APA

Global Resilience Partnership (2018). Outcomes of the Action Event at COP 24 Scaling up investments in climate resilience to meet the needs of vulnerable people. https://www.globalresiliencepartnership.org/wp-content/uploads/2020/11/cop24-gca-resilience-rt-outcome-document-final-clean_2.pdf

Chicago

Global Resilience Partnership. Outcomes of the Action Event at COP 24 Scaling up investments in climate resilience to meet the needs of vulnerable people. 2018. https://www.globalresiliencepartnership.org/wp-content/uploads/2020/11/cop24-gca-resilience-rt-outcome-document-final-clean_2.pdf.

Wikipedia

{{cite report |author=Global Resilience Partnership |title=Outcomes of the Action Event at COP 24 Scaling up investments in climate resilience to meet the needs of vulnerable people |date=10 December 2018 |url=https://www.globalresiliencepartnership.org/wp-content/uploads/2020/11/cop24-gca-resilience-rt-outcome-document-final-clean_2.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{globalresiliencepartnership2018outcomes, author = {{Global Resilience Partnership}}, title = {{Outcomes of the Action Event at COP 24 Scaling up investments in climate resilience to meet the needs of vulnerable people}}, institution = {Global Resilience Partnership}, year = {2018}, month = dec, url = {https://www.globalresiliencepartnership.org/wp-content/uploads/2020/11/cop24-gca-resilience-rt-outcome-document-final-clean_2.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }