Finance Day at the 29th UN Climate Change Conference (COP29) in Baku, Azerbaijan, is 14 November, with events focused on the benefits and need for increased climate action financing. The Islamic Development Bank (IsDB) announced its commitment of a US$10 million grant to the World Health Organization (WHO) to implement the Health Impact Investment Platform (HIIP). This significant contribution, signed during the high-level roundtable meeting on the sidelines of COP29, follows the initial announcement made during the UN General Assembly in September and marks a pivotal step in operationalizing commitments to climate and health in low- and middle-income countries.
"Thank you to the Islamic Development Bank for this generous commitment, this investment in our global health," said Dr Maria Neira, Director of the Department of Environment, Climate Change and Health at WHO. "Climate action is an investment, not a cost. It means lower health costs, improved economies, more productive workforces, and lower food costs. Investing in climate action is the most fiscally responsible action global leaders can take."
In the face of the health crisis presented by the climate crisis, there is an urgent need for increased climate-health funding. Health-specific climate action remains underfunded, with only around 2% of adaptation funding and 0.5% of multilateral climate funding currently allocated to projects that protect or improve human health.
At a time when funds are going towards wasteful wars and health-harming fossil fuel subsidies, WHO is calling for greater funding directed at protecting human health through climate action. COP29 is focused on finance, recognizing co-benefits to climate action in many sectors. Health in particular benefits from all climate action, with co-benefits such as reduced air pollution, improved diets, increased physical activity and improved mental health.
The Alliance for Transformative Action on Climate and Health (ATACH) is an alliance of 90 WHO Member States and over 70 partners developing climate resilient, sustainable and low carbon health systems, and working with other sectors to promote health. Through ATACH, WHO and partners are supporting countries' climate and health interventions that protect and promote population health and well-being. This is done while strengthening climate resilience and reducing greenhouse gas emissions and air pollution, with financing being a cross-cutting priority to ensure smooth delivery on the path towards implementation.
In the lead up to COP29, WHO released Healthy NDCs , a guidance for policymakers reassessing their Nationally Determined Contributions (NDCs) for 2025 and the COP29 Special report on climate and health. The guidance outlines the NDCs process and highlights the need for policymakers to include health in their calculations when assessing the costs of climate action. The Special report outlines the immense financial and health benefits of implementing and scaling up climate action. Business as usual is currently causing increased health costs far outweighing the costs of climate actions, WHO is urging global leaders to invest wisely and take serious climate health action.
