Dhaka, May 22 -- As ministers representing the 57 member countries of the Islamic Development Bank Group gather in Algiers for the IsDB's 51st annual meeting, the devastating effects of climate change are impossible to ignore. Wildfires consuming entire communities, floods displacing millions of people, and heat waves claiming hundreds of thousands of lives.

Such extreme weather events are no longer anomalies; they are the new normal, threatening lives and livelihoods in the world's most climate-vulnerable regions - especially in the Global South.

With traditional responses proving inadequate to this escalating threat, innovative finance must take center stage. According to the Intergovernmental Panel on Climate Change, as many as 3.6 b...