"Two billion people worldwide either do not have social protection or have it at a level that cannot eliminate poverty," Practice Manager for the Social Protection and Jobs Global Unit at the World Bank Loli Aribas-Banos said during her speech at the panel on Safeguarding Human Development: Mobilizing Climate Finance for Social Protection held at COP29, APA reports.
She noted that it is crucial to strengthen the resilience of households, poor and vulnerable groups, and their sources of livelihood against climate shocks.
"This means establishing adaptive social protection systems that can be expanded or reduced as needed. At the World Bank, we assess the number of people who will be affected by these shocks before they happen and ensure that social protection systems are ready to reach them."
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