#cop28 highlighted two pressing challenges: the inevitability of escalating global warming due to accumulated carbon dioxide levels, and the financial vulnerability of over 1.5 billion citizens in climate-vulnerable economies.
With the impending displacement of 200 million people within these economies, the risk of financial disruption looms large. However, this scenario is not inevitable.
Governments can take immediate action by enhancing data portability, protecting migrants from financial abuses, and supporting reskilling programs.
Simultaneously, financial service providers should reduce fees during crises, maintain active cash-in, cash-out networks, and invest in data-driven solutions tailored to migrants.
By adopting these measures, governments and banks can proactively address the impending climate-induced disruption, offering tangible solutions for millions in need, rather than delaying action until #COP29.
Edoardo Totolo
Source: The Banker
#climateactionnow #financialinclusion #cop28 #climateresilience #globalwarming #financialprotection #climateadaptation #socialresponsibility #crisisresponse #datadrivensolutions #globalchallenges #financeforgood #climateaction #COP29 #sustainablefuture
LinkedIn Top Voice | Sustainability Advocate
5moThanks for sharing, Omar AL-Ajaji 🇵🇸!