Some of the nations most vulnerable to climate change face a sharp rise in debt service payments in the coming two years, hampering their ability to invest in climate proofing and shoring up their economies, a research report found. The Vulnerable Group of Twenty (V20) - a group of 55 economies exposed to the fallout from climate change - expect debt service payments to rise to $69 billion by 2024 - the highest level in the current decade, according to calculations from the V20 and the Boston University Global Development Policy Centre.
From drought to floods and sea level rise, the cost of damage caused by climate change will only get higher as the world warms, sparking concerns from both top officials and activists about how to pay for it. “Loss and damage from the climate crisis is not a future event. It is happening now, all around us,” said United Nations Secretary-General Antonio Guterres on a visit to Pakistan, which recently suffered from devastating floods that displaced hundreds of thousands of people and left over a thousand dead.
The first detailed compendium of climate change laws and policies in 48 of the world’s 55 most climate vulnerable nations 30 June 2022, LONDON: Today the Climate Vulnerable Forum (CVF) and GLOBE International publish the first detailed compendium of climate change laws and policies in 48 of the world’s 55 most climate vulnerable nations. [...]
Report underscored emergency need for crisis-level action via loss and damage funding for the most vulnerable economies MANILA, June 9, 2022 – A report released yesterday by the Vulnerable Twenty (V20) Group of Finance Ministers detailed the massive economic damage wrought by climate change on the economies of the V20, representing countries considered the most [...]
V20 Group of 55 economies reinforce demands for international funding for loss and damage Reposted from the V20 Group of Finance Ministers | READ THE STORY HERE BONN, Germany, 8 June 2022 – The V20 Group of Finance Ministers from climate vulnerable economies are calling for the immediate establishment of a separate and dedicated [...]
Finance ministers from vulnerable nations have agreed to use philanthropic funds to demonstrate how a funding mechanism for victims of the climate crisis could work by Chloé Farand | April 25, 2021 | Published by Climate Home News | READ THE STORY HERE A coalition of vulnerable countries is getting to [...]
QUEZON CITY, 7 December 2021 -- Sara Jane Ahmed, advisor to the Vulnerable 20 (V20) Group of Finance Ministers and founder of the Financial Futures Center (FFC), was recognized as one of the awardees of the Climate Breakthrough Project this year. Ahmed is the first Filipino and Bangladeshi to receive this award. She has authored studies [...]
by Fiona Harvey | November 18, 2021 | Published by The Guardian | READ THE STORY HERE Those most at risk warn countries such as Australia they will lose out economically if they do not raise targets. Some of the countries most vulnerable to climate breakdown have called on the UN and the UK and other [...]
November 14, 2021 | Published by BusinessMirror | READ THE STORY HERE With high visibility in Glasgow, Scotland, light projections and street hubs today feature verse and pleas by poets and activists from Indonesia, Costa Rica, Mexico, Tanzania, and the Philippines. “We take great pride in helping foment a global poetry rebellion instigated by poets and [...]
by Megan Rowling | November 11, 2021 | Published by Reuters | READ THE STORY HERE GLASGOW, Nov 10 (Thomson Reuters Foundation) - Vulnerable countries at the COP26 climate talks urged stronger commitments on finance to help them adapt to climate change impacts and repair the damage they are suffering, in response to an early draft [...]