Craig Churchill, Chief, ILO’s Social Finance Programme
As extreme weather events increase in intensity and frequency, building up the resilience of the poorest communities – often the most exposed to climate change – is critical. And financial services have a role to play.
For poor families the impact of extreme weather, such as floods and droughts, often lead to the loss of livelihoods. This in turn forces families to resort to damaging coping mechanisms, including skipping meals, taking children out of school and borrowing money at high rates. It leaves them even more vulnerable to the next disaster.
Continue reading →