When climate disasters strike, the world's most vulnerable communities often face devastating financial losses. In an era of increasing climate risks, traditional disaster response isn't enough. Communities need financial solutions that put them in control of their recovery.

In Episode 6 of the Financial Inclusion Unlocked Podcast, we met with Nilesh Prakhash, Co-Director of the Global Shield against Climate Risks, to explore how locally led Climate and Disaster Risk Finance and Insurance solutions, or CDRFI, are increasing resilience.

Nilesh shares his extensive experience in climate finance, explains the concept of CDRFI, the importance of pre-arranged financing, and the inclusive in-country processes that the Global Shield deploys to engage various stakeholders in assessing financial protection gaps in climate-vulnerable countries.

Nilesh highlights successful examples, particularly the implementation of Ghana's tailored support package, including the recent payout of a drought insurance policy, and outlines the challenges and opportunities for local stakeholders within the Global Shield framework.

Disclaimer: This episode was recorded in February 2025. Therefore, some of the content from the episode may have changed at the time of release. For the most up-to-date information on the work of the Global Shield, visit the website and follow the Global Shield on LinkedIn. The initiative is no longer active on X.

Financial Inclusion Unlocked is a podcast on a journey to learn how we can unlock the potential of financial inclusion. This show is produced by SIJ Media, and Series 1 is sponsored by SCBF.

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Connect with host Jack Farren on Linkedin or [email protected]