Statement delivered by H.E. Svenja Schulze, Minister for Economic Cooperation and Development, Germany
V20 MINISTERIAL DIALOGUE X
16 April 2023
H.E. Svenja Schulze, Minister for Economic Cooperation and Development, Germany (Pre-recorded Intervention)
The partnership with the V20 is of special importance to me. The V20 and the G7 under the German presidency launched the Global Shield against climate risk last year. In doing so, we demonstrated something key, that those countries that have produced the most emissions in the past are working now closely together with those countries that climate change has rendered particularly vulnerable, and they are doing so in the politically-challenging area of loss and damage caused by climate change. This sends a visible and important signal.
The Shield provides a systematic, coherent, and sustained approach for closing protection gaps and for safeguarding people financially against the impact of climate shocks. This makes it an important element in loss and damage funding arrangements.
Let us strive to achieve the high ambition of the Shield by convincing more donors to make substantial contributions by tapping into innovative funding sources by making use of the extensive toolbox that institutions such as the World Bank and the International Monetary Fund can provide, and by continuing as the V20 to demonstrate strong leadership on the global and national level and then the Shield’s pathfinder countries. Let us work together to find a pathway to a climate-neutral and resilient future.