Top emitters urged to provide concrete climate action despite G20 leaders reaffirming 1.5C goal [ABS-CBN News]

2022-11-21T16:49:36+08:0017 Nov 2022|Tags: , , , , , , , , , , , |

The G20 Media Center was set abuzz as members of the information desk announced the joint communique is ready for public view. A draft communique seen by some the night before showed that G20 leaders will close their summit in Indonesia this week with a strongly worded statement against Russia’s aggression in Ukraine. But climate advocates have been waiting on bated breath as there were fears major economy leaders are backtracking on their pledge to limit global warming to 1.5C.

G20 declaration provides momentum as COP27 nears end, but falls short in energy transition [PhilStar]

2022-11-21T16:49:43+08:0017 Nov 2022|Tags: , , , , , , |

Leaders of the Group of 20 nations renewed their commitment to keep alive the goal of limiting global warming to 1.5 degrees Celsius and recognized the need to phase down the use of unabated coal, giving hope to boost the climate summit in Egypt.

V20 and G7 jointly launch Global Shield against Climate Risks at COP27

2022-11-16T09:55:33+08:0014 Nov 2022|Tags: , , , , , , , , , , , , , , , |

The Vulnerable 20 Group of Finance Ministers (V20) of 58 climate vulnerable economies and the Group of Seven (G7) today officially launched the Global Shield against Climate Risks, an initiative for pre-arranged financial support designed to be quickly deployed in times of climate disasters. Initial contributions include around EUR 170 million from Germany and more than EUR 40 million from other countries. In addition, a broad coalition of countries, multilateral institutions, non-state and private sector partners has underlined their full institutional commitment to Global Shield. The first recipients of Global Shield packages – called Pathfinder countries – include Bangladesh, Costa Rica, Fiji, Ghana, Pakistan, the Philippines and Senegal.

CVF Calls Glasgow Climate Pact ‘Broken’, Following New Assessment of NDCs

2022-11-14T08:54:53+08:0011 Nov 2022|Tags: , , , , , , , , , , , , , , |

The Climate Vulnerable Forum (CVF) today at COP27 issued a major new report which uses a traffic light approach to show that G7 and G20 major economies are stuck on ‘red’ in terms of their NDCs’ alignment with the 1.5ºC goal of the Paris Agreement.

Green foundation urged for recovery

2022-09-01T15:20:14+08:0001 Sep 2022|Tags: , , , , |

Efforts to counter climate change must be built into plans for a global economic recovery from the pandemic, Indonesia's environment chief said in urging countries in the G20 to promote "environmental multilateralism". Indonesia holds the 2022 presidency of the grouping, which brings together the 20 major developed and developing economies.

Vulnerable nations set to design and test loss and damage funding facility

2022-04-26T16:25:40+08:0025 Apr 2022|Tags: , , , , , , , , , |

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 [...]

V20 TO G7, G20: UPGRADE NEAR-TERM EMISSIONS TARGETS, ESTABLISH A FIT-FOR-CLIMATE PROSPERITY GLOBAL FINANCIAL SYSTEM

2022-04-26T14:44:13+08:0021 Apr 2022|Tags: , , , |

Washington DC, 21 April 2022 — Finance ministers from the V20 Group of climate vulnerable economies pushed for partnership with the G7 and G20 to improve the global financial system. V20 leaders called on the G7, the G20, and the IMF to act decisively on loss and damage while ensuring the inclusion of vulnerable economies [...]

Ahead of UN climate summit, rich countries stumble with dismal finance offer

2021-10-27T15:51:17+08:0027 Oct 2021|Tags: , , , , , , , |

MANILA, October 27, 2021 — Developed countries are projected to raise USD 100 billion in climate finance annually in 2023, three years later than pledged, according to a report released by the United Kingdom days before the United Nations climate summit is set to begin this Sunday. Rich countries pledged back in 2009 to raise [...]

Press Release: Vulnerable countries to insure MSMEs amidst worsening climate disasters

2019-09-25T15:55:12+08:0024 Sep 2019|Tags: , , , |

DOWNLOAD PDF Vulnerable countries to insure MSMEs amidst worsening climate disasters MSMEs account for 29% of GDP and employ 78% of workforce in vulnerable economies NEW YORK, 22 Sept 2019 – The Vulnerable Twenty (V20) group of economies today rolled out its Sustainable Insurance Facility (SIF) to protect micro, small and medium-sized enterprises [...]

Reactive: Japan fails to drive stronger G20 climate pact

2019-07-01T18:15:31+08:0029 Jun 2019|Tags: , , , |

Reacting to the G20 Summit’s conclusion in Osaka, Renato Redentor Constantino, Executive Director of the Institute for Climate and Sustainable Cities said: “As G20 Chair, Japan’s failure to drive a stronger outcome in support of climate action exposed Prime Minister Shinzo Abe’s weak leadership in the global stage. Japan wasted its chance to decisively confront the [...]