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.
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)
OUR PURPOSE OUTLINED IN THE
CONTEXT OF V20 INCLUDE
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
Engage in joint advocacy and other collective actions
HISTORY
Timeline
Founding of the V20: Lima, Peru, October 2015 Founding Chair: Philippines
Philippine Presidency: 2nd V20 Preparatory Deputies and Senior Officials Meeting, Washington DC, April 2016
Philippine Presidency: 2nd V20 Working Group Meeting, Washington DC, April 2016
Ethiopia Presidency: 3rd V20 Ministerial Dialogue, Washington DC, Oct 2016
Philippines to Ethiopia Handover Ceremony, Washington DC, Oct 2016
G20-V20 High Level Dialogue establish InsuResilience Global Partnership
V20 adopts carbon pricing objective across 40 economies
V20 Ethiopian Presidency supports TCDF under leadership of Mark Carney- undisclosed risk will remain mismanaged and underpriced
V20 Asia Pacific Regional Meeting, March 2017
Ethiopia Presidency: V20 4th Ministerial Dialogue, April 2017
FOUNDING DOCUMENTS
The founding documents of the V20 include:
V20 Design Document
Framing the purpose, role and functions/operations of the V20
V20 Action Plan
A 5 year plan of activities that the V20 aims to undertake
V20 Communique
First joint statement of the V20
V20 Implementation Work Plan
Describes the principal activities, approach, partnerships and objectives for the realization of decisions and ambitions of the V20
OTHER PARTNERS
