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V20 MINISTERIAL COMMUNIQUE VIII
21 April 2022 – As climate vulnerable economic managers, we nonetheless see new opportunities in building on the COP26 outcomes from the UN climate summit in Glasgow. Decisions for keeping 1.5ºC threshold target alive, including advances in international financing for loss and damage, and the doubling of adaptation finance, need to be realized while taking advantage of the current surge in fossil fuel costs to crowd investments into renewable energy and storage, while raising debt restructuring and credit enhancement as a climate resilience tool to safeguard creditors’ assets and vulnerable economies and unlocking new climate resources and ambition.
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1st V20 Climate Vulnerables Finance Summit with the meeting of the V20 Ministers of Finance
Thursday 8 July 2021 – 1.30pm to 3.00pm GMT
Livestream of the 1st V20 Climate Vulnerables Finance Summit with the meeting of the V20 Ministers of Finance.
V20 to G7, G20: upgrade near-term emissions targets, establish a fit-for-climate prosperity global financial system
Climate-vulnerable economies in a ‘financial death trap’ due to lack of internationally supported national climate initiatives
V20 Ministerial Communique VIII
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V20 to G7, G20: upgrade near-term emissions targets, establish a fit-for-climate prosperity global financial system
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All you need to know about Bangladesh’s climate prosperity plan
German government to enhance sovereign risk and resilience insight in partnership with the Insurance Development Forum and V20 climate-vulnerable countries
V20’s Finance Advisor, Sara Jane Ahmed, named recipient of $3 million award for Climate Prosperity Plan for economies facing most climate risks
Collaborative Efforts to Invest in Resilience and Close the Financial Protection Gap: V20 Sustainable Insurance Facility becomes operational
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EXPLORE V20'S WORK
AND IMPACT IN 2019
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.
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.
Purpose
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.
Climate-vulnerable economies in a ‘financial death trap’ due to lack of internationally supported national climate initiatives
GFLP in Support of Net Zero: Roadmap for Sustainable Finance
Why climate transition risks are macro-critical: The IMF and enabling a green recovery
An Opportunity to Close the Protection Gap in Climate Vulnerable Countries
David meets Goliath: First ever V20 – G20 meeting highlights the mutual benefits of climate action
Current Events
55 COUNTRIES STAND TOGETHER
TO FIGHT CLIMATE CHANGE
MANAGING PARTNER
Global Center On Adaptation
OTHER PARTNERS
UNEP FI Principles for Sustainable Insurance
Climate Insurance Initiative
InsuResilience Global Partnership
World Bank Group/GFDRR
