When it comes to climate emergencies, we’ve seen time and again that the people who are most affected are often those with the least access to the resources to adapt and recover. As leaders from around the globe converge on Belém, Brazil, for COP30 this week, inclusion is on the agenda. 
 
Even hosting the summit in the Amazon, where iIndigenous and local communities have experienced the effects of climate impact firsthand, underscores the need for investing in adaptation for vulnerable communities  
 
Extreme weather events caused over $300 billion in damages last year alone, with future costs projected to rise. As leaders discuss plans for the Baku-to-Belem Roadmap to support climate action in developing countries, it’s critical that funding is invested in ways that empower and benefit underserved populations globally and don’t reinforce existing barriers. 

Even the most ambitious plans for driving climate resilience around the globe may fall short of the need if plans are not developed on a foundation of experience and innovation, with people always at the center.

With decades of experience in economic inclusion work, financial institutions have an opportunity to step up and take on a transformative role. 

Where financial institutions can lead

Green technologies, like solar power and biodigesters, are more accessible than ever before — but still not an affordable investment for people scraping by paycheck-to-paycheck. However, a small loan can can make it possible for individuals and small businesses to reap the economic and environmental rewards of these technologies. Inclusive financial products play a critical role in making climate adaptation available to underserved communities. 

Financial institutions globally are already making positive inroads into climate action and financial inclusion coverage. For example,  BNP Paribas help younger customers access grants and subsidies while providing accessible lending solutions. Insurers are also responding with innovative products. In the Philippines, Pioneer Life Insurance recognized the rise of mosquito-borne diseases due to rising temperatures and increased flooding. They introduced Pioneer MediCash Dengue Insurance that helps families manage financial shocks due to climate-enabled health risks. Even within Accion’s own work, we’ve seen countless examples of how financial service providers can prioritize climate adaptation and make it accessible to underserved people.

When it comes to investing in adaptation, institutions that are already demonstrating the ability to cultivate social good and financial returns can serve as a catalyst to amplify the potential impact. As Abhishek Acharya, director at India’s Ministry of Environment, Forest and Climate Change, notes, “Adaptation needs to be built into a profitable market system which attracts private investment.” 

We’re watching COP30 in hopes of seeing an ambitious plan with innovative financing mechanisms for end customers in remote or underserved areas, particularly in the global south. This includes blending public and private funds, offering low-cost loans, and providing grants along with robust infrastructure for delivery. Along with scale, it is critical for these commitments to translate into actual financing flows to financial institutions, fintech platforms, NGOs, and other organizations that reach the people and communities in need. 
 
Putting together this plan will mean focusing on people’s real needs and answering hard questions: How do smallholder farmers without bank accounts access climate adaptation finance? How do informal workers in climate-vulnerable sectors receive transition support? How do Indigenous communities protecting forests get compensated when they lack formal financial identities? 

For climate finance to serve financial inclusion, COP30 outcomes should not only consider how much money flows, but how it flows — particularly toward adaptation efforts that build resilience at the community level. They could mean: 

• Explicit delivery mechanisms that reach beyond traditional banking channels to leverage mobile money, fintech, and community-based organizations. 

• Concessional finance and guarantees that de-risk serving populations without collateral or credit histories. 

• Recognition that adaptation finance is most needed by vulnerable populations who require different models than mitigation finance.  

Success will be measured by how well financing flows to those who contribute the least to emissions but face the greatest risk.

At Accion, we are working to bridge this gap between climate finance commitments and last-mile delivery. The ClimaFii Alliance demonstrates how inclusive finance can drive climate adaptation in India and sub-Saharan Africa. Through the program, we are working closely with financial service providers to develop and scale climate-smart financial products that reach micro and nano entrepreneurs, helping to boost their productivity, incomes, and resilience to climate shocks. We look forward to sharing more of our progress as solution design and testing advances.