The last year brought unprecedented challenges for people around the world as they continued to grapple with the effects of climate change. For over a decade, WFP has prioritised advancing financial protection as a means of building resilience to extreme weather events—an essential part of its mandate of saving lives and changing lives. Given the severe effects of the climate crisis, it is essential to enable households and communities to recover from losses and damages caused by climate-related shocks and prevent them from being pushed into hunger and food insecurity. In 2022, WFP provided financial protection to over 3.8 million people across 21 countries in Africa, Asia, Latin America and the Caribbean, through climate risk insurance instruments. In regions affected by droughts, floods, and hurricanes, these insurance products provided much-needed payouts to support 1.8 million people with a total of US$12.6 million.
