GiveDirectly reposted this
Tom Mtenje and I are just back from representing GiveDirectly at #COP29, the U.N. annual climate change summit. A deal was agreed at the 11th hour for $300bn/year of climate finance - far short of the $1.3T being called for by developing nations, including half of that for #lossanddamage. Every story we heard from people on the frontline of the climate crisis was a stark reminder that climate change is affecting people in poverty the most, although they’ve contributed the least. In the face of the escalating climate catastrophe, and vastly insufficient funding, it is more important than ever for climate finance to be channeled as efficiently and directly as possible to the most affected communities. That’s why GiveDirectly was making the case for direct cash transfers which are: 🌍Localised - providing an individualised, transparent and efficient mechanism that puts communities in the driving seat. 📲Scalable and timely - the transformation of digital cash transfers and AI can leapfrog previous problems of reaching vulnerable communities ahead of time or quickly in response. 🌴Innovative - GiveDirectly and others are now channelling cash transfers to indigenous communities to protect nature and biodiversity - a case summarised in this @world-economic-forum video: https://lnkd.in/eu75v5f9 💸Transformative - large cash transfers have been proven to build #resilience, support #adaptation, and/or address #LossandDamage – read our Principles on L&D here: https://lnkd.in/eppZY2zZ Thank you to all our key COP29 partners Loss and Damage Collaboration; The Scottish Government, International Institute for Environment and Development (IIED), Trócaire, Cool Earth, Equal Right, The World Bank, Google. We look forward to continuing working with all of you to ensure the limited funding pledged makes the greatest difference by scaling just, transformative #cash4climate. Learn more at https://lnkd.in/ejiN429m