The Systematic Observations Financing Facility (SOFF) has opened contributions for a groundbreaking climate impact bond designed to strengthen global resilience and early warning capabilities. Aimed at raising USD 200 million by the end of 2026, the initiative seeks to close critical weather and climate data gaps that hinder effective forecasting and climate action. If fully capitalized, the bond would support 30 Least Developed Countries and Small Island Developing States in meeting Global Basic Observing Network (GBON) standards, enabling a five-fold increase in internationally shared weather and climate data.
SOFF’s proposed bond will be showcased under the COP30 Action Agenda and is supported by the Brazilian COP30 Presidency. Reliable and sustained financing remains a major barrier to maintaining weather observation systems, particularly in vulnerable countries. This innovative instrument, created by UNEP, WMO and UNDP, aims to deliver long-term solutions by leveraging upfront investor capital backed by donor commitments. Increased data availability is expected to significantly enhance global preparedness, potentially generating USD 5 billion in direct annual benefits and unlocking USD 160 billion in broader economic gains.
Key leaders welcomed the initiative, emphasizing its urgent importance. WMO highlighted that closing the data gap will dramatically improve forecasting capacity worldwide, while UNEP underscored the financial and human costs of failing to adapt. UNDP noted that the bond could ease longstanding climate finance bottlenecks, accelerating installations of weather stations and strengthening resilience. SOFF emphasized that the bond will ensure measurable, results-based progress, with data increases independently verified by WMO.
The bond aligns with COP30’s broader vision of collective global action, described as a “Multirão,” and is seen as a concrete example of climate finance innovation. Improved weather and climate observations promise substantial global dividends: enhanced forecast accuracy, stronger early warning systems, and better protection of lives and livelihoods. For Small Island Developing States, the bond offers a lifeline to strengthen national observation systems while providing vital data that benefits the entire planet.
SOFF, along with partner organizations WMO, UNDP, and UNEP, continues to drive efforts to close global climate data gaps and support climate-resilient development, especially in the world’s most vulnerable regions.
