The publication details urgent measures in using responsible digital payments for timely emergency response and preventive action amid climate change.
With about 3.6 billion individuals, particularly women and marginalized communities, being disproportionately impacted by climate change, the introduction of digital payments is seen as a key infrastructure for delivering financial assistance swiftly and transparently.
A collective call to action for responsible digital payments, endorsed by a consortium of global leaders and organizations, was announced at COP28 in Dubai, last December.
The call to action urges governments, humanitarian actors, international and global financial institutions, and the private sector, notably financial service providers, to use responsible digital payments for timely emergency response and preventive action. Thanks to digital financial inclusion, people most impacted by climate change can be more financially resilient to shocks and stressors. Anticipatory action can be 7 times less expensive than emergency response.
