Colombia

When millions of Venezuelans fled across the border, neighbouring Colombia made a bold choice: instead of closing its borders, the country kept them wide open. Until 2023, displaced Venezuelans have been eligible for residence and work permits. Not everything has gone smoothly, but the example shows what’s possible when the political will is there.

Shock-sensitive social protection

Social protection systems are expected to act quickly and effectively to protect the poor and vulnerable in acute times of crisis. But severe shocks often overwhelm them, pushing millions into poverty. Sovereign climate risk insurance can help bring relief to affected communities, provided governments manage to overcome difficulties of implementation.