Fintech PR
New Analysis: International Finance for Climate and Health Increased to US$7.1 billion in 2022, but Financing Remains Difficult to Access for the Most Climate-Impacted Countries
Data provides the most comprehensive analysis to date of self-reported donor financing, providing a critical baseline to strengthen climate and health action
DAVOS-KLOSTERS, Switzerland, Jan. 21, 2025 /PRNewswire/ — Today, at the 55th Annual Meeting of the World Economic Forum, Foundation S – the Sanofi Collective, Reaching the Last Mile, and The Rockefeller Foundation released a first-of-its-kind analysis of international finance for climate and health. The white paper, Resourcing Climate and Health Priorities: A Mapping of International Finance Flows from 2018-2022, finds US$7.1 billion was committed to the climate and health nexus in 2022, a significant increase from the less than US$1 billion committed in 2018. While this demonstrates increasing prioritization of climate and health among leading finance partners, the financing is not sufficiently reaching countries most impacted by climate change: less than 35% of finance from bilateral donors is channeled directly to countries, and less than 50% of overall funding analyzed flowed to low-income countries.
“While the increase in financing for climate and health projects is a promising step in the right direction, the overall amount of funding still falls far short of what is needed to protect lives and livelihoods from the devastating impacts of climate change,” said Dr. Naveen Rao, Senior Vice President, Health, The Rockefeller Foundation. “Donors from the public, private, and philanthropic sectors must increase their commitments to climate and health, while also making sure that funding reaches the communities that need it most.”
The analysis, conducted by SEEK Development in partnership with adelphi consult and AfriCatalyst, defines climate and health finance as international concessional financing for projects in and out of the health sector that address the direct health impacts of climate change, support the health sector to adapt to and mitigate climate change, and/or generate health co-benefits from climate action.
With increased political support for climate and health through the Group of 20, Conference of the Parties, and World Health Assembly, donors have stepped up their efforts to make financing available for projects at the intersection of climate and health. In 2022, this financing included:
- US$4.8 billion in commitments from bilateral donors
- US$1.5 billion in commitments from two health multilateral funds
- US$0.6 billion in commitments from four multilateral development banks
- US$130 million in commitments from philanthropies
- US$23 million in commitments from multiple climate multilateral funds
The report also found that bilateral donors are increasingly making health investments that include climate considerations: the share of climate finance directed to the health sector increased from 1% in 2018 to 9% in 2022. However, 24% of the available funding in 2022 was provided as loans rather than grants. Additionally, more than 90% of Asian Development Bank and Inter-American Development Bank’s total funding for climate and health financing was provided as loans.
“Countries on the frontlines of climate change urgently need more accessible financing to protect their population’s health,” said Vanina Laurent-Ledru, Director General, Foundation S. “Business as usual is no longer an option; public, private, and philanthropic collaborations can help to fast track flexible finance directly to local communities so they can urgently build climate-resilient health systems.”
“Well-financed climate action is an opportunity to transform countries and economies and achieve health and wellbeing for all,” said Nassar Al Mubarak, CEO, Reaching the Last Mile. “As the report demonstrates, now is the time to invest in more ambitious, coordinated and accessible funding, delivered where it is needed most.”
There are several limitations to this analysis that reflect the challenges in transparency and clarity countries face in accessing financing. First, donor data on climate and health commitments are self-reported and use different definitions of climate and health, making it difficult to verify which commitments constitute new financing for climate and health projects rather than reclassifications of tangentially related commitments or projects. And second, the lack of standardized data on finance flows from disparate funders and sectors limits comparison across finance categories. While recognizing these limitations, this report presents its data as an initial overview of the funding landscape, providing a baseline understanding to strengthen financing for climate and health.
Strengthening Global Commitments and Improving Access to Funding
In an era of polycrisis and growing fiscal constraints, countries have limited pathways to fund climate and health priorities. Evidence from the white paper suggests that funding from bilateral donors is likely to stagnate or potentially decrease in the near-term. However, multilateral development banks, along with health and climate multilateral organizations, are increasingly prioritizing climate and health in their strategies, signaling an opportunity to harness that financing to deliver on both climate and health ambitions. Yet even with increased financing opportunities, countries still face challenges accessing resources due to fragmented, complex, laborious finance processes and limited domestic capacity to access finance for large-scale investment.
To address these challenges, the report calls on donors, civil society, academia, and policymakers to support countries in accessing needed financing through the following actions:
- Increase funding available for climate and health: Scaling funding for climate and health solutions across sectors is necessary and feasible. Fiscal policy reforms and efforts to reform the global financial architecture can additionally increase finance towards shared climate, health, and development goals.
- Align investment priorities and frameworks to maximize impact: Developing a clear, shared understanding of evidence-based high-impact climate and health investment in all sectors will guide funders to allocate more funding to these interventions and support local decision making in prioritizing these actions.
- Accelerate delivery and improve access to funding: Funders must simplify and speed up access to finance for proven, high-impact climate and health actions while countries build their funding pipelines for more transformative actions. Clear and publicly available investment priorities, investment volumes, key performance indicators, and application processes can additionally enable access.
- Channel funding to country priorities: As country priorities are further defined and updated (e.g., through Nationally Determined Contributions), funders must collaborate and integrate investments to increase impact and reduce country burden. Future finance must emphasize scaling up grant-based finance that does not deepen the debt crisis and undermine the ability of the most impacted countries to invest in health, climate, and economic wellbeing.
- Standardize definitions and increase transparency: Funders and normative bodies must align on a clear definition and use a consistent methodology to report their climate, health, and cross-sectoral finance. Transparent reporting will give greater visibility into investments and enable donors, countries, and advocates to track finance against need and close critical gaps.
About the White Paper
As articulated in the COP28 Guiding Principles for Financing Climate and Health Solutions, this report responds to a clear need for baseline financial data on climate and health. Three endorsing organizations of the Guiding Principles – Foundation S – the Sanofi Collective, Reaching the Last Mile, and The Rockefeller Foundation – pooled funds to commission the analysis through RF Catalytic Capital, Inc., which served as the fiscal sponsor of the project. It was developed as a contribution to the Alliance for Transformative Action on Climate and Health (ATACH), which works to realize the ambition set at COP26 to build climate-resilient and sustainable health systems.
The report was developed and produced by SEEK Development in partnership with adelphi consult and AfriCatalyst, with editorial support from Global Health Strategies. More than 50 funding organizations, country governments, implementing organizations, and finance experts contributed to this report through participation in one-on-one interviews, in-person consultations on the sidelines of the 79th UN General Assembly in September 2024 and the World Health Summit 2024, virtual consultations held in November and December 2024, peer review, and the provision of data, insights, and analysis.
About The Rockefeller Foundation
The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We make big bets to promote the well-being of humanity. Today, we are focused on advancing human opportunity and reversing the climate crisis by transforming systems in food, health, energy, and finance. For more information, sign up for our newsletter at www.rockefellerfoundation.org/subscribe and follow us on X @RockefellerFdn and LI @the-rockefeller-foundation.
About Foundation S ― The Sanofi Collective
Foundation S strives to create healthier futures for generations to come. We are driven by a singular purpose: to improve the lives of vulnerable populations by catalyzing community–based solutions, expanding access to medicines, and mobilizing collective action. Since our launch in 2022, we have made bold strides in helping to address some of the biggest global health crises, particularly for those living in low- and middle-income communities. With a focus on four key commitment areas, our vision is to improve the lives of vulnerable people by listening to those on the frontlines, supporting community-based solutions, and strengthening community health resilience for future generations.
About Reaching the Last Mile
Reaching the Last Mile represents the global health philanthropy of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates. Through collaborative and innovative investments, RLM works to advance health equity, combat preventable diseases, and support the growth of strong and resilient health systems that leave no one behind. For more information, follow us on X and IG at @RLMglobalhealth.
About RF Catalytic Capital, Inc.
A charitable offshoot of The Rockefeller Foundation, RF Catalytic Capital, Inc. (RFCC) enables foundations, impact investors, businesses, governments, and other like-minded funders to combine their resources to build funding solutions for social impact and bring about transformational change. RFCC leverages The Rockefeller Foundation’s expertise and resources while collaborating with partners and investors to multiply impact and help to transform today’s greatest challenges into collaborative solutions. For more information, please visit rfcatalytic.org.
Media Contacts
Ashley Chang, The Rockefeller Foundation
media@rockfound.org
Sandrine Guendoul, Foundation S – The Sanofi Collective
Sandrine.Guendoul@sanofi.com
Lwazi Mletsane, Reaching the Last Mile
rlmmedia@brunswickgroup.com
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Fintech PR
Safello teams up with Zumo to set the standard for sustainability in Sweden’s crypto sector
Swedish cryptocurrency exchange Safello has entered into a strategic partnership with Zumo to comply with sustainability disclosures under MiCAR.
STOCKHOLM and EDINBURGH, Scotland, March 14, 2025 /PRNewswire/ — Safello, the leading cryptocurrency exchange in the Nordics, has entered into an agreement with Zumo, a B2B digital assets platform, to facilitate sustainability disclosure requirements under MiCAR.
Through this collaboration, Safello will leverage Zumo’s expertise in carbon calculations and crypto sustainability impact to ensure accurate and transparent sustainability disclosures. This initiative accommodates the requirements in the European Union’s (EU’s) Markets in Crypto-Assets (MiCA) regulation, which through Article 66 mandates crypto asset service providers (CASPs) active in the EU to display sustainability disclosures on their websites on the environmental impact of the digital assets in relation to which the CASPs offer services.
In implementing MiCAR, the Swedish Financial Supervisory Authority (FSA) has stipulated a nine-month transition period during which it will grandfather the CASP registrations that were granted before MiCAR came into force. Therefore, Swedish CASPs must obtain their MiCA license by 30 September 2025.
“Compliance is at the core of our business. Partnering with Zumo is one of the steps we are taking to meet MiCA’s sustainability disclosure requirements and ensure we provide accurate data to our customers,” says Tara Abdi, Chief Compliance Officer at Safello.
“Safello is a market leader in the Nordics so we’re delighted the team has chosen to partner with Zumo to help meet new regulatory requirements,” adds Nick Jones, Founder and CEO, Zumo.
“Our award-winning Oxygen product was introduced to help CASPs better align their digital asset activities with net zero principles and adopt more sustainable practices. We’re committed to supporting CASPs at every stage of their sustainability journey, and complying to the MiCAR sustainability requirements is a critical first step – By championing actionable steps, and providing new, accessible solutions, we’re supporting the transition towards a more transparent, sustainable, and compliant crypto industry.”
As part of the agreement, Safello will now explore Zumo’s Oxygen solution suite, reinforcing its commitment to both regulatory adherence and sustainability within the crypto industry.
Notes To Editors
Certified Adviser
Amudova AB is Safello’s certified adviser.
Safello is the leading cryptocurrency exchange in the Nordics, with over 400,000 users. The company is empowering financial independence by making crypto accessible to everyone. Safello offers a secure and easy solution for buying, selling, storing, as well as depositing and withdrawing cryptocurrencies directly from the blockchain – ensuring seamless transactions at industry-leading speeds. Operating in Sweden, Safello has been registered as a financial institution with Finansinspektionen (Swedish Financial Supervisory Authority) since 2013 and is listed at Nasdaq First North Growth Market since 2021. For more information visit www.safello.com
About Zumo
Zumo is an award-winning crypto-as-a-service platform. It provides banks, fintechs and other businesses with the infrastructure they need to launch sustainable digital asset solutions.
The company’s purpose is to help build a financial future that creates new opportunities whilst leaving a positive impact on the planet. To achieve this, Zumo is creating easy-to-use financial tools that businesses can embed seamlessly via APIs, so that digital assets are adopted by the mainstream market and used in total peace of mind, every day.
Zumo was an early signatory of the Crypto Climate Accord and has become a key contributor to industry guidance on the decarbonisation of digital assets, working closely with the World Economic Forum. Zumo’s employees also co-founded the Emerging Technologies Sustainability Taskforce (ETST) to help ensure the specific characteristics of emerging technologies, such as blockchain, are encapsulated so the standards used for sustainability across the global digital assets sector are fit for purpose.
Find out more at: https://zumo.tech/
View original content:https://www.prnewswire.co.uk/news-releases/safello-teams-up-with-zumo-to-set-the-standard-for-sustainability-in-swedens-crypto-sector-302401221.html
LONDON, March 14, 2025 /PRNewswire/ — AI to Replace Civil Servants and Save £45 Billion: What Does This Mean for Insurance?
The UK government is betting big on AI. Prime Minister Sir Keir Starmer has pledged to replace civil servants with artificial intelligence, calling the state “overcautious and flabby” and promising sweeping reforms. The goal? To cut inefficiencies and save taxpayers £45 billion through automation.
With thousands of government jobs under review and AI well-suited for routine tasks, the civil service could unlock unprecedented efficiency – saving an estimated £45 billion while empowering its workforce
Will the Government’s use of AI legitimise its use in wider industry? Are their parallels within insurance?
The insurance industry faces the same challenges as a market that’s burdened with time-consuming, manual data entry and administrative tasks. AI is poised to change that by automating these processes, allowing underwriters to focus on higher-value decisions, resulting in faster, more accurate quotes, better risk management and a more competitive insurance market.
Much like in government, AI can reduce operational costs in insurance by eliminating repetitive tasks such as keying (and re-keying) submissions, document analysis, and manual risk evaluations. By leveraging AI, insurers can significantly speed up the quote process, improve efficiency and lower premiums.
Rewriting the Underwriter job description
However, AI isn’t replacing underwriters; it’s redefining their roles. As Starmer put it, “No person’s time should be spent on a task where AI can do it better, quicker, and to the same high quality.”
For underwriters, this signals a shift from administrative work to strategic decision-making, portfolio expansion, and coverage innovation. Instead of spending time on data entry or outsourcing submissions for manual processing, underwriters will be free to focus on evaluating complex risks and maximising capacity deployment.
AI won’t make you obsolete; but your competitors using it might
As the government leads the charge in AI-driven reform, the insurance sector must follow. AI is not just a tool for cost-cutting, it’s a powerful driver of efficiency, customer experience, and competitive advantage.
The question is no longer if AI will reshape underwriting but how quickly insurers will adopt it. Those who embrace AI may well outpace their competitors. Those who don’t? They risk being left behind, because AI won’t replace underwriters – but underwriters who use AI will replace those who don’t.
About Concirrus
Concirrus revolutionizes underwriting in specialty and commercial insurance with AI-driven solutions that turn hours-long processes into decisions made in seconds. Founded in 2012, it serves sectors like aviation, transportation, marine, surety, construction, political violence, and terrorism. Trusted by leading insurers, its AI analytics streamline operations, optimize risk assessment, and empower smarter, faster decisions in a rapidly evolving industry. To learn more, visit: https://concirrus.ai
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Fintech PR
The 137th Canton Fair: Strengthening Middle East Trade Ties with Successful Promotion Events
GUANGZHOU, China, March 14, 2025 /PRNewswire/ — The 137th Canton Fair is coming this April. Recognized as the largest trade fair in China, the fair successfully conducted a Middle East roadshow in February, with trade promotion events in Qatar, Saudi Arabia and United Arab Emirates.
“The Canton Fair provides a one-stop service platform for the global business community to trade commodities, exchange ideas and align rules and policies. The 137th Canton Fair will open on April 15, and we cordially invite Middle East enterprises to join the exhibition to strengthen cooperation and achieve win-win with global business partners,” said Ma Fengmin, Deputy Director General of China Foreign Trade Centre.
On February 13, the 137th Canton Fair Promotion Workshop was successfully held in Doha. Ali Saeed Bu Sharbak Al Mansori, the Acting General Manager of the Qatar Chamber (QC), praised the strong Qatar–China relations, noting China’s importance as one of Qatar’s most important trade partners and the noticeable developments in various fields, especially in economic and trade sectors. He emphasized the significance of the Canton Fair and Qatar Chamber’s commitment in fostering business ties and partnerships between Qatar and China. GAC (Guangzhou Automobile Group) highlighted the Canton Fair as a bond of friendship and a bridge for trade, encouraging the Qatari business community to attend the Canton Fair.
The Canton Fair working group also visited manufacturing group QIMC, home furniture chain Nabina Group, premium department store Blue Salon and Doha Exhibition and Convention Center.
On February 16 and 17, the Canton Fair working group hosted two promotion conferences in Riyadh and Jeddah, Saudi Arabia, and over 130 local representatives attended the conferences to exchange ideas and promote trade cooperation. He Song, Minister-Counsellor for Economic and Commercial Affairs at the Chinese Embassy in Saudi Arabia, stated that bilateral trade between China and Saudi Arabia has significantly expanded in recent years. Saudi Arabia’s exports to China are extending from traditional energy to diversification, while China’s exports to Saudi Arabia, including mechanical and electrical equipment, automobiles, new energy products, and IT equipment, are also becoming increasingly abundant. Saudi buyer representative highlighted the Canton Fair’s importance for sourcing goods, expanding business, and giving Saudi factories a global platform. Midea expressed that the Canton Fair serves as a global opportunity engine, accelerating the building of mutual trust and promoting shared growth. ToGo power said that the Canton Fair is an excellent platform for finding new suppliers, developing exclusive product lines, and establishing strategic partnerships.
Subsequently, the working group continued to visit the local home furniture retailer Saco and retail enterprise Bin Dawood, and attended the Big 5 exhibition, where they engaged with some of the exhibitors.
In Dubai, the 137th Canton Fair Promotion Conference held on February 19 was attended by about 100 partners and guests. Wang Xiaojia, Counsellor of the Chinese Consulate-General in Dubai, highlighted the strengthening economic ties between China and the UAE. The Canton Fair has become a premium platform for deepening cooperation between two countries. UAE enterprises are welcomed to join the 137th session and further expand business cooperation. Danube Group Vice Chairman and Milano Founder Anis Sajan reflected on his long-standing attendance at the Fair since the early 2000s, commending China’s robust supply capabilities and the event’s role in gathering global business opportunities. Haricharan DTP, Haier Gulf Electronics LLC sales Director, noted that the Canton Fair provides a window for communication, a stage to showcase the strength and image of the enterprise, and promotes technological innovation and industrial upgrading.
The working group visited Dubai World Trade Centre, port and logistics enterprise Gulftainer, Expo Centre Sharjah, retailer LULU, overseas warehouses of cross-border e-commerce companies as well as Gulfood tradeshow.
As an important milestone in building the online platform of the fair, the Canton Fair App now brings integrated online and offline experience for exhibitors and buyers, and serves as a 365-day, uninterrupted business matchmaking platform.
The 137th Canton Fair will be held from April 15 to May 5, 2025 in Guangzhou. To download the Canton Fair App, please visit https://cief.cantonfair.org.cn/en/app/appintro.html.
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