Abstract

This high-level COP30 side event will showcase an integrated approach to building climate resilience through debt reform, resilient infrastructure, and private investment. It will feature the Debt Sustainability Support Service (DSSS)—a mechanism endorsed at ABAS and FFD4 that aligns debt sustainability with climate resilience—and launch the Disaster Resilient Infrastructure (DRI) Action Agenda led by CDRI. Together with partners including the Global Philanthropy Foundation (GPF), the session will bring together ministers, development finance leaders, insurance and private sector representatives to explore how coordinated debt solutions, resilient infrastructure planning, and innovative finance can unlock fiscal space and accelerate adaptation in climate-vulnerable economies. The discussion will culminate in a collective call to scale up resilience finance across SIDS, LDCs, and FCAS.

Background

Despite contributing the least to global greenhouse gas emissions, Small Island Developing States (SIDS), Least Developed Countries (LDCs), and Fragile and Conflict Affected States (FCAS) bear a disproportionate burden of climate change. Over 40% of SIDS are in or near debt distress, and many governments spend more on external debt servicing than on adaptation or essential public services. Climate shocks, rising insurance costs, and currency volatility have deepened fiscal instability, trapping countries in a cycle of vulnerability and debt.

The Debt Sustainability Support Service (DSSS) provides an integrated platform across four pillars:

• Debt solutions: including debt swaps, restructuring, and climate-contingent clauses;
• Risk-layered protection: through instruments such as parametric insurance, pooled reserves, and anticipatory financing;
• Resilience investment: leveraging green and blue bonds, and climate-aligned blended finance;
• Expert advisory support: offering legal, technical, and negotiation expertise to countries facing debt and climate risks.

The Coalition for Disaster Resilient Infrastructure (CDRI) advances infrastructure resilience through its Disaster Resilient Infrastructure (DRI) Action Agenda—integrating risk reduction, innovation, and resilience into national adaptation and investment strategies. The Global Philanthropy Foundation (GPF) adds a private and philanthropic dimension, aligning corporate investments with resilience-building and sustainability outcomes.

Key Objectives and Session Focus

• Objective 1: Institutionalising resilience in global and national financing frameworks — embedding DSSS and DRI Action Agenda within climate funds and financial institutions.
• Objective 2: Accelerating implementation through country and regional delivery models — integrating DSSS and DRI within national adaptation strategies.
• Objective 3: Mobilising private and philanthropic finance for resilience — unlocking corporate and philanthropic capital via blended finance models.
• Objective 4: Advancing global financial reform and long-term adaptation goals — aligning with Article 2.1(c) of the Paris Agreement.
• Objective 5: Building a coalition for systemic change — scaling DSSS and DRI Action Agenda to 20 countries by 2026.

Agenda

1. Opening (5 minutes)
   Welcome and remarks: Diego de Leon Segovia (or alternate) from APCO
   Moderator: Ritu Bharadwaj, Director, Climate Resilience, Finance and Loss & Damage / ALL ACT, IIED
2. High-Level Panel (35 minutes)
   Speakers:
   • H.E. Salah Ahmed Jama, Deputy Prime Minister, Federal Government of Somalia (tbc)
   • H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development & International Cooperation, Egypt
   • H.E. Neale Richmond, TD Minister of State for International Development, Ireland
   • H.E. Ruleta Camacho Thomas, Climate Ambassador, Government of Antigua and Barbuda
   • Kamal Kishore, Assistant Secretary-General, UNDRR
   • Tanmay Kumar, Secretary (EF&CC), Ministry of Environment, Forest and Climate Change, India
   • Jorge Moreira da Silva, UN Under-Secretary-General, UNOPS
3. Panel Discussion (45 minutes)
   Framing by the moderator on aligning financial reform with COP30 outcomes.
   Cluster 1: Debt Reform & Resilience Finance (FRLD, OPEC Fund)
   Cluster 2: Country Pathways (India, Senegal, Somalia, Canada)
   Cluster 3: Private & Philanthropic Capital (Zurich, GPF)
   • Dr. Suchismita Mukhopadhyay, Lead Specialist – Advocacy, CDRI
   • Jihyea Kim, Programming & Country Engagement Lead, Fund for Responding to Loss and Damage (FRLD)
   • Musab Alomar, Vice President of Strategy, OPEC Fund
   • Matt Holmes, Group Head, Political & Government Affairs, Zurich
   • Madeleine Diouf Sarr, Head of Climate Change Division, Ministry of Environment, Senegal
   • Federico Burone, Regional Director, Latin America & Caribbean, IDRC
   • Enio Verri, General Director, Itaipu Binacional
4. Closing (5 minutes)
   Summary and Next Steps: Tom Mitchell, Executive Director, IIED