Barbados appointed as new presidency of Climate Vulnerable Forum

2023-12-05T20:48:43+08:0005 Dec 2023|Tags: , , , , , , , , , , |

CVF move towards independence marks strong political will to advance ambitious climate action, ICSC stated DUBAI, December 5, 2023 – The Climate Vulnerable Forum (CVF), a group of 68 member countries highly vulnerable to climate change impacts, has announced Barbados to be its next presidency starting mid-2024 at the World Climate Action Summit on Transforming [...]

V20 Ministerial Dialogue: XI Securing Shared Prosperity and Sustainable Development in a Climate Insecure World [V20]

2023-10-17T09:31:51+08:0016 Oct 2023|Tags: , , , , , |

by Nabiha Shahab & Denise Fontanilla | October 15, 2023 | Published by V20 | READ THE STORY HERE Marrakech, 15 October 2023 – The Vulnerable Twenty (V20) Group of Finance Ministers, comprising 68 countries from Africa, Asia, the Caribbean, Latin America, the Middle East, and the Pacific, today reiterated their call for urgent [...]

ICSC calls for urgency, accountability in the delivery of climate finance pledges

2023-10-18T13:41:58+08:0006 Oct 2023|Tags: , , , , , , , |

Echoing the call of the Vulnerable 20 Group (V20 Group) of Finance Ministers, Manila-based think tank Institute for Climate and Sustainable Cities (ICSC) calls upon leaders of developed nations to fulfill their obligations to climate-vulnerable countries and deliver climate finance pledges with utmost urgency as the Green Climate Fund (GCF) undergoes its second replenishment.   

Advancing Climate Prosperity: Building a Resilient Global Financial Architecture for the Climate Vulnerable [V20]

2023-09-26T12:51:24+08:0013 Sep 2023|Tags: , , , |

Advancing Climate Prosperity: Building a Resilient Global Financial Architecture for the Climate Vulnerable DATE : 12 Sept 2023 | 10:30 am - 11:30 am ET VENUE : Venue: Conference Room 7, United Nations Headquarters, New York & Virtual Platform Background The Climate Vulnerable Forum (CVF) and the V20 Finance Ministers are convening a high-level leaders’ [...]

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.

Sri Lanka Launches ‘Climate Prosperity Plan’ to Power Faster Economic Recovery and Achieve Net-Negative Carbon Emissions

2022-11-09T12:58:25+08:0009 Nov 2022|Tags: , , , , , , , |

This Preliminary Report presents Sri Lanka’s Climate Prosperity Plan: a national investment strategy to carve a pathway towards prosperity in a climate-insecure world. Sri Lanka’s Climate Prosperity Plan aims to maximise socio-economic outcomes and wellbeing for the population of Sri Lanka. To do so, the strategy focuses on unlocking the maximum domestic renewable energy potential and enhancing resilience through nature-based solutions and financial protection.

The Climate Crisis Is Driving Poorer Nations to Desperate Measures [The New Republic]

2022-10-24T09:51:11+08:0019 Oct 2022|Tags: , , , , |

As the United States and the world lurch toward a recession, the poorest and most vulnerable countries face a seemingly impossible set of circumstances. The group of 58 climate-vulnerable countries known as the V20 have lost 20 percent of their combined gross domestic product this century due to climate damages, according to a recent report. Meanwhile, these poorer countries also face rising food and commodity costs, the devastating effects of Covid-19, and ongoing vaccine apartheid. As the Federal Reserve moves to raise interest rates in the name of combating inflation, V20 nations appear to be reaching a breaking point. “The climate crisis is the debt crisis,” said Sara Jane Ahmed, finance advisor to the V20.

DOF, other V20 finance ministers call for global finance reforms to manage debt, climate impacts

2022-10-19T15:29:56+08:0019 Oct 2022|Tags: , , , , , , , , , , , |

WASHINGTON DC, 19 October 2022 – At the recently held annual meetings here of the International Monetary Fund (IMF) and World Bank, the Vulnerable 20 Group of Finance Ministers (V20) called for debt restructuring and other global financing reforms to help them manage the economic threats of both debt and climate change. The Philippines was the founding chair of the V20 in its establishment in 2015.

[V20 Ministerial Dialogue IX: “When is Now?”] Climate-vulnerable economies: Climate disasters and debt are a vicious cycle

2022-10-17T12:29:41+08:0017 Oct 2022|Tags: , , , , , , , , |

The V20 Group of Finance Ministers from 58 climate-vulnerable economies today demanded reforms in the global financing architecture as they face mounting economic threats from climate disasters and debt. V20 countries have at least USD435 billion of debt servicing payments due in four years at a time when new investment is severely needed, the Group noted in its V20 Ministerial Dialogue IX Communique.

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