WFP’s 2023 Annual Report on Climate Risk Insurance Highlights Expansive Global Impact

The World Food Programme’s (WFP) 2023 Climate Risk Insurance (CRI) Annual Report encapsulates a pivotal year where extensive climate-related disasters underscored the need for robust financial protection strategies. The report offers a comprehensive overview of WFP’s CRI programs across various countries, integrating in-depth country analyses, compelling field stories, and insightful interviews with partners. It emphasizes the role of these programs in promoting gender equality and women’s empowerment.

As extreme weather events like heatwaves, floods, and droughts intensify globally, WFP’s strategic expansion of Climate and Disaster Risk Financing and Insurance (CDRFI) has been crucial. Starting in 2008, WFP has been pivotal in advancing financial protection for communities vulnerable to food insecurity due to climate impacts. In 2023, the organization achieved a significant milestone by providing climate risk insurance to 5.1 million individuals across 27 nations, thereby exceeding its 2025 target ahead of schedule. The financial coverage extended nearly US$300 million, with insurance payouts amounting to US$17.8 million — a noticeable increase from the previous year, aiding nearly 800,000 people in regions hit by droughts, floods, and cyclones.