WFP is making climate risk insurance solutions work for food insecure populations. In 2021, WFP protected over 2.7 million people in 18 countries with climate risk insurance, getting closer to reaching its target of 4 million people by 2026. During the unfortunate climate-related disasters that happened this year, WFP was able to distribute payouts to 576,000 people with over US$4.7 million. Climate risk insurance enables vulnerable people to better cope with climate shocks. It can support smallholder farmers to absorb the effects of failed harvests, pastoralists to keep providing food and veterinary care to their livestock, micro and small entrepreneurs to continue their productive activities, and governments and humanitarian agencies to launch well-coordinated, efficient and early responses. This annual report highlights WFP’s main achievements in 2021, provides deep dives into WFP-supported climate risk insurance projects in each country, as well as stories from the field, interviews with partners, and insights into how WFP promotes gender equality and women’s empowerment in its programmes.