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X-ORIGINAL-URL:https://www.v-20.org/
X-WR-CALNAME:V20: The Vulnerable Twenty Group
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BEGIN:VEVENT
CLASS:PUBLIC
UID:MEC-a5ff1a4d4bc44f3834181a6ca58b91c8@v-20.org
DTSTART:20230921T143000Z
DTEND:20230921T153000Z
DTSTAMP:20230916T210500Z
CREATED:20230916
LAST-MODIFIED:20231130
PRIORITY:5
TRANSP:OPAQUE
SUMMARY:Advancing Climate Prosperity: Building a Resilient Global Financial Architecture for the Climate Vulnerable
DESCRIPTION:[vc_row][vc_column][vc_column_text text_larger=”no”][/vc_column_text][vc_column_text text_larger=”no”]\nThursday, September 21, 2023 | 10:30 am – 11:30 am ET\n\nVenue: Conference Room 7, United Nations Headquarters, New York & Virtual Platform\n\n[/vc_column_text][vc_column_text text_larger=”no”]\nBackground\nThe Climate Vulnerable Forum (CVF) and the V20 Finance Ministers are convening a high-level leaders’ meeting during the 78th Session of the United Nations General Assembly (UNGA) in New York. The event will galvanise momentum behind the Accra-Marrakech Agenda (A2M) and the Bridgetown Initiative 2.0 with climate vulnerable countries committing to increased inter-government collaboration to drive and accelerate the transformation agenda creating a global financial architecture that caters to the needs of the climate vulnerable and addresses debt\nsustainability. While there are other coalitions in the climate and development space around key policy objectives, there is none like the CVF, with 68 member states representing 1.7 billion people. Our collective voice is an opportunity to drive and realize deeper global transformation.\nThe meeting will also take the opportunity to update the membership on progress regarding the establishment of an independent Secretariat for the CVF and the V20 Finance Ministers. It will also seek members’ input into the process. The establishment of an independent Secretariat is to ensure the coalition has a legal form that enables the mobilisation of more resources to support member states in the development and implementation of their climate prosperity objectives and goals while providing policy guidance, facilitating access to financial resources for adaptation and loss and damage, building the capacity of member states, and empowering them to effectively navigate challenges posed by climate change.\nObjectives\n\nThe meeting will emphasise the importance of climate vulnerable countries setting the agenda\nfor the development of a global financial architecture that is climate resilient, while catering to\nthe needs of the most vulnerable communities.\nThe meeting will focus on the following themes, providing a comprehensive platform for\ndiscussion and decision-making towards the 2023 Annual Meetings of the World Bank Group\nand the International Monetary Fund in Marrakech, Morocco; and the 2023 United Nations\nClimate Change Conference (COP28) in Dubai, United Arab Emirates, including a Leaders’ Declaration:\n\nRepresentation in Global Governance. Climate vulnerable countries and vulnerable groups\nneed representation in deliberations and decision-making that influence monetary and\ndevelopment policies within the Bretton Woods Institutions and other strategic arenas;\nScale-Up Accessible Finance with urgency. The 1.5ºC “survival” goal of the Paris\nAgreement, 30×30 Global Biodiversity Framework1, and Sustainable Development Goals\n(SDGs) will require a tripling of multilateral development bank resources while enabling\nregional institutions and strategies to crowd in private sector participation to deliver USD 1\ntrillion per year. This includes the need to mobilise an ambitious share of world gross\ndomestic product (GDP) to secure a sustainable future for the global economy amid an\nescalating climate emergency, and a shifting of financial resources away from what\nundermines the fight against climate change;\nDebt Sustainability. The V20 has accumulated a total of USD 686 billion in external public\ndebt. This amounts to 27 percent of the Group’s GDP. Addressing the debt burden and\nimmediate liquidity needs of climate vulnerable countries is critical to achieve financial\nstability and enable capacity to undertake necessary climate, SDG, and biodiversity\ninvestments;\nJust Energy Transition. Advocating for an equitable and inclusive energy transition that\nsupports sustainable development goals while modernising infrastructure and expanding\njob opportunities;\nAdaptation and Loss & Damage. Adaptation continues to fall short even as 55 CVF\neconomies registered USD 525 billion in climate-related losses from 2000 to 2019. It’s time\nto strengthen resource mobilisation for adaptation efforts and to address loss and damage\nincurred by climate vulnerable countries due to climate-related disasters and growing\nclimate-fueled risks; and\nProtecting Economies from Climate Impacts. Developing climate risk management\nstrategies to shield economies of vulnerable nations from the negative consequences of\nclimate change through pre-arranged and trigger-based funding and tools.\n\n\nThe meeting will also deliberate the draft Leaders’ Declaration of an independent Secretariat for\nthe CVF and the V20 Finance Ministers, exploring its structure, functions, and funding\nmechanisms amongst others.\n\nParticipants\nThe meeting will be open to leaders and ministers from CVF member states, as well as leaders from\nother climate conscious nations, relevant stakeholders, international organisations, and civil society\nrepresentatives.\nExpected Outcomes\n\nEnable strong support from member states to establish a climate-resilient global financial\narchitecture;\nSecure commitment to prioritise debt sustainability, just energy transition, adaptation, and loss\n& damage, and scaling accessible finance in global climate finance strategies;\nStrengthen international cooperation and leader level collaboration to ensure climate prosperity\nfor all;\nReview and align around the Leaders’ Declaration of the independent Secretariat for enhanced\ninter-government collaboration; and\nAdopt and deliver the Leaders’ Declaration.\n\nKey Speakers\nEsteemed leaders from climate vulnerable countries and key partners will attend the meeting as\nkeynote Speakers and Supporters of the CVF and the V20 Finance Ministers Agenda.\nFormat\nThe meeting will be a hybrid event with 40+ countries represented by Heads of State/ Government,\nMinisters, and/ or Ambassadors, plus one or two more representatives.\nProvisional Agenda (1.5 hours max.)\nPre-Meeting\n*Attended by Heads of State/ Government only\n\nPre-Meeting (30 minutes prior to start of session)\n\nHeads of State/ Government\n\nPart One\n*Broadcasted starting at 10:30AM\n\nWelcome and Opening Remarks by the Chair of the CVF (5 minutes)\n\nHis Excellency Nana Addo Dankwa AKUFO-ADDO, President of Ghana and Chair of the CVF\n\n\nKeynote addresses by the CVF and the United Nations (5 minutes each)\n\nHer Excellency Mia MOTTLEY, Prime Minister of Barbados\nHis Excellency Dr. Ariel HENRY, Prime Minister of Haiti\nHis Excellency Ranil WICKREMESINGHE, President of Sri Lanka\nHer Excellency Amina MOHAMMED, Deputy Secretary-General, United Nations and Chair of the United Nations Sustainable Development Group\n\n\nPresentation of Leaders’ Declaration (5 minutes)\n\nHis Excellency Ken OFORI-ATTA, Minister for Finance of Ghana and Chair of the V20\n\nFOR ADOPTION BY CVF MEMBERS: CVF LEADERS’ DECLARATION\n\nReactions from Partners (2 minutes each)\n\nHer Excellency Chrysoula ZACHAROPOULOU, Minister of State for Development, Francophonie and International Partnerships, France\nThe Right Honourable the Lord Tariq AHMAD of Wimbledon, Minister of State for the Middle East, North Africa, South Asia and United Nations at the Foreign, Commonwealth & Development Office, United Kingdom\nThe Right Honourable the Lord Mark MALLOCH-BROWN, President of the Open Society Foundations (OSF)\n\n\nPresentation: Expected Outcomes towards Marrakech and Dubai (10 minutes)\n\nHis Excellency Ken OFORI-ATTA, Minister for Finance of Ghana and Chair of the V20\n\n\nClosing Remarks and Pledge for Climate Prosperity\n\nHis Excellency Nana Addo Dankwa AKUFO-ADDO, President of Ghana and Chair of the CVF\n\nPart Two\n*Closed to Members attending in-person and virtually\n\nAny other business with member states\n\n \nPhotos during the meeting\n[/vc_column_text][vc_gallery type=”image_grid” images=”21878,21877,21876,21875,21874,21873,21872″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text text_larger=”no”]Download:\nVideo – Message CFV Leaders Meeting ( https://drive.google.com/drive/folders/1Gnm6--AItwi_RoMttdEb-D8-JmUNPX8l )\nVideo – President Nasheed Message ( https://drive.google.com/file/d/1XXuW8l2zsZCCbQ1jLQGXvAlQzL7ySpbX/view )[/vc_column_text][/vc_column][/vc_row]\n
URL:https://www.v-20.org/advancing-climate-prosperity%3A-building-a-resilient-global-financial-architecture-for-the-climate-vulnerable-
CATEGORIES:Africa Climate Summit,featured events
LOCATION:New York, USA
ATTACH;FMTTYPE=image/jpeg:https://www.v-20.org/wp-content/uploads/2023/09/advclimprosperity.jpg
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