Strengthening Social Protection: An Urgent Economic and Climate Necessity
As climate change intensifies and economic uncertainties mount, robust social protection systems have become essential for resilience and inclusive development. A new report by the Economic and Social Commission for Asia and the Pacific (ESCAP) underscores the critical need to address financing gaps to strengthen these systems and safeguard vulnerable populations.
Far from being a mere expense, social protection is an investment in people that yields significant socioeconomic returns. Research highlights its role as an economic stabilizer, particularly evident during the COVID-19 pandemic when cash assistance programs and unemployment benefits supported incomes and stabilized aggregate demand. Such measures demonstrate how social protection systems enhance resilience and foster social c...