UNICEF has announced a new climate financing initiative to help children in developing countries cope with the impacts of the climate crisis.
Money will be available for immediate climate resilience for children, as well as insurance markets for future natural disasters.
UNICEF found that last year, 400 million children were at high exposure to cyclones.
This initiative will be focused on Bangladesh, the Comoros, Haiti, Fiji, Madagascar, Mozambique, the Solomon Islands and Vanuatu for the next three years.
So far, $30 million (£25.2m) has been raised for the project, with UNICEF asking for more private investment to protect more children.
It is estimated that 15 million children will benefit from the investment scheme.
“UNICEF is the first UN institution, as well as one of the largest humanitarian organisations worldwide, to take out a bespoke disaster risk coverage for the protection of children, youth and parents, especially mothers,” said Simon Young from WTW, who helped design the insurance solution of the initiative.