Poor people living in slums are at particularly high risk from the impacts of climate change and natural hazards. They live on the most vulnerable land within cities, typically areas deemed undesirable by others and thus affordable. This study analyzes the key challenges facing the urban poor, given the risks associated with climate change and disasters, particularly with regard to the delivery of basic services, and identifies strategies and financing opportunities for addressing these risks. The main audience for this study includes mayors and other city managers, national governments, donors, and practitioners in the fields of climate change, disaster-risk management, and urban development. The work is part of a broader program under the Mayor’s task force on climate change, disaster risk and the urban poor. The study is organized in four chapters covering: 1) a broad look at climate change and disaster risk in cities of the developing world, with particular implications for the urban poor; 2) analysis of the vulnerability of the urban poor; 3) discussion of recommended approaches for building resilience for the urban poor; and 4) review of the financing opportunities for covering investments in basic services and other needs associated with climate and disaster risk.