Addressing the Polycrisis: Capital Mobilization for the V20 Climate Prosperity Agenda with Climate Prosperity Plans from Bangladesh, Ghana, and the Launch of the Barbados Investment Plan for Prosperity and Resilience

Addressing the Polycrisis: 

Capital Mobilization for the V20 Climate Prosperity Agenda with Climate Prosperity Plans from Bangladesh, Ghana, and the Launch of the Barbados Investment Plan for Prosperity and Resilience

Tuesday, 16 April 2024 | 3.00 pm – 5.00 pm ET
The Rockefeller Foundation, 2445 M Street, NW,
First Floor Conference Center, Washington, DC

Hosted by the CVF and V20 Finance Ministers, Ghana, Barbados, Bangladesh, The Rockefeller Foundation, Open Society Foundations, and Children’s Investment Fund Foundation

Overview and Purpose: 

A large gap remains between what the world aims to achieve on climate action and the pace of national transitions, adaptation, and resilience plans, especially among emerging and developing countries. A lasting turn away from fossil fuels first requires rapid growth in the use of renewables. But for now, more than 90% of all increased spending on renewables is going into developed countries and China.

Meanwhile, climate adaptation finance, flowing at around US$63 billion per year, still falls far short of estimated needs of $212 billion per year by 2030 for developing countries alone. Increasing resilience to more frequent and ferocious climate shocks will require comprehensive national-scale strategies, which will also unlock huge potential for economic growth and job creation.

Meeting these dual challenges will require work to strengthen local expertise and institutions; engage civil society and impacted communities;establish sound transition plans; and helping to bring in outside capital of all kinds.

The session also aims to launch the Government of Barbados’ ambitious Investment Plan to build climate resilience in Barbados worth over US$10+ in public and private investments. The plan aims to generate 10,000 new quality jobs, reduce the poverty rate by 50%, ensure that 100% of the population has access to primary and secondary healthcare, and attain 100% renewable energy generation by 2035.

As incoming Chair of the V20 group of climate vulnerable countries, Barbados will be joined by Bangladesh and Ghana, who are also V20 members, who will showcase their Climate Prosperity Plans and present on progress in mobilising domestic resources and attracting international investment, and share the existing pipeline of investable projects, with potential to scale.

Meeting Format:

This public-facing event will target IFI staff, donor governments, philanthropies, and civil society organizations. This event will accommodate up to 80 participants and will be open to press.

Provisional Program 

Emcee: Sir Alok Sharma, Rockefeller Foundation Climate and Finance Fellow