The Vulnerable Twenty (V20) Group of Ministers of Finance of the Climate Vulnerable Forum is a dedicated cooperation initiative of economies systemically vulnerable to climate change. The V20 works through dialogue and action to tackle global climate change.

V20 Members: Afghanistan, Bangladesh, Barbados, Bhutan, Burkina Faso, Cambodia, Comoros, Costa Rica, Democratic Republic of the Congo, Dominican Republic, Ethiopia, Fiji, Ghana, Grenada, Guatemala, Haïti, Honduras, Kenya, Kiribati, Madagascar, Malawi, Maldives, Marshall Islands, Mongolia, Morocco, Nepal, Niger, Palau, Papua New Guinea, Philippines, Rwanda, Saint Lucia, Senegal, South Sudan, Sri Lanka, Sudan, Tanzania, Timor-Leste, Tunisia, Tuvalu, Vanuatu, Viet Nam and Yemen.

Since October 2016, Ethiopia serves as the Chair of the V20 following the Group’s inaugural tenure by Philippines.

Establishment

The Vulnerable Twenty (V20) Group was established with the inaugural meeting of the V20 Ministers of Finance of the Climate Vulnerable Forum chaired by H.E. Cesar V. Purisima, Secretary of Finance of the Philippines, on 08 October 2015 at Lima, Peru in conjunction with the 2015 Annual Meetings of the World Bank Group and International Monetary Fund.

Background

The call to create the V20 originated from the Climate Vulnerable Forum’s Costa Rica Action Plan (2013-2015) in a major effort to strengthen economic and financial responses to climate change. It foresaw a high-level policy dialogue pertaining to action on climate change and the promotion of climate resilient and low emission development with full competence for addressing economic and financial issues beyond the remit of any one organization.
Costa Rica Action Plan of the Climate Vulnerable Forum (pdf, 0.3mb)

Purpose

V20 aims outlined in the context of the Climate Vulnerable Forum include to:
  • Promote the mobilization of public and private climate finance;
  • Share and exchange best practices on economic and financial aspects of climate action;
  • Develop new and improved approaches to climate finance; and,
  • Engage in joint advocacy and other collective actions.