As part of London Climate Action Week 2026, the Impact Investing Institute partnered with UNDP and UNHCR to bring together investors, development finance institutions, foundations, humanitarian organisations and delivery partners to explore how climate finance and investment can reach displacement-affected and fragile contexts more effectively.
Held under the week’s theme of ‘cooperation in a fragmented world’, the discussion took place against a backdrop of rising displacement, growing climate vulnerability and increasing pressure on traditional development and humanitarian funding models.
While significant pools of climate, development and impact capital exist globally, relatively little reaches displacement-affected contexts in a sustained and investment-oriented way. Participants highlighted that the challenge extends beyond capital availability alone: too few opportunities are sufficiently developed, structured and connected to appropriate forms of finance.
About the event
The event opened with remarks from Agi Veres of UNDP and Bella Landymore of the Impact Investing Institute. At the heart of the discussion were the people and communities living with these pressures. Displaced people and host communities are already building businesses, creating jobs and contributing to local economies, and panellists reflected on the importance of recognising their capabilities, aspirations and agency, while also understanding the uncertainty and constraints that shape their financial decisions.
The first session explored practical lessons from investment activity in displacement-affected contexts, drawing on examples across financial inclusion, enterprise development, livelihoods and infrastructure. A second session focused on how these opportunities can be structured and scaled, bringing together perspectives from investors, guarantee providers and humanitarian organisations.
A closing discussion considered how the capabilities represented across the room could be brought together more effectively. Participants reflected that many of the key building blocks already exist, including patient and catalytic capital, local knowledge, project development capacity and risk-sharing mechanisms. The challenge is how to align and deploy these around specific opportunities, creating stronger pathways for investment in displacement-affected and fragile contexts.
Event readout
Download the event readout to explore five key insights from the discussion, alongside practical examples, challenges and opportunities for mobilising greater investment in displacement-affected contexts.
Continuing the conversation
This event formed part of an ongoing partnership between the Impact Investing Institute and UNDP to help create the conditions for greater private investment in climate resilience across fragile and displacement-affected contexts. The discussion built on a wider programme of engagement during London Climate Action Week, including a closed-door roundtable convened the previous day.
The insights gathered through these discussions will inform further engagement with organisations interested in developing investable opportunities, testing financing approaches and strengthening collaboration across the humanitarian, development and investment communities.
Organisations interested in this work are invited to contact aisling.mccaffrey@impactinvest.org.uk and jennifer.obrien@impactinvest.org.uk
Project lead
Senior Programme Manager, Just Transition