Statement delivered by Ms. Christie Ulman, President, Sequoia Climate Foundation
V20 MINISTERIAL DIALOGUE XII
16 April 2024
Washington D.C., USA
Ms. Christie Ulman, President, Sequoia Climate Foundation
Thank you, Chair, and congratulations to the CVF and V20 for its newly independent platform, and for the clarity on what is required for a fit-for-climate international financial architecture that brings development positive climate outcomes to the most vulnerable.
We share your advocacy for a stronger voice and participation of countries from the CVF, and developing countries in the global financial system. From the foundation or philanthropic perch, we do our best to look for catalytic levers, so slipstream of finance that is leveraged and to a much greater impact. We think that the CVF voices around the table and V20 are exactly that.
You have set the high watermark for ambition in applying pressure where it’s needed. You have a unique position to do that. And thank you for what you do. It’s not an easy place, but you do it well. Your Climate Prosperity Plans, that’s the high watermark that you have set, they have been developed through a whole of government approach, and it’s an inspiration for emerging — the emerging model of country platforms.
This is essential as we enter the delivery phase for the next round of the NDCs for 2025 and as countries grapple with what those mean for supporting investment plans. Without the latter, we know there is no delivery plan. The country platforms modeled on your country Climate Prosperity Plans and the process you have implemented to design those can bring together the best that MDBs, public development banks, international private finance and concessionary capital have to offer. This provides a pathway to deliver on the country’s broader climate and development objectives. We know that successful implementation and financing of the country Climate Prosperity Plans requires a crowding in of deep expertise in areas like project preparation, deal structuring, financial modeling, financial and real economy regulation, and designing of sectoral pathways. We at Sequoia, and likewise my foundation colleagues, are committed to answering that call as much as we can, working towards closing the capacity gap on this new frame for policymaking.
Finally, CVF and V20 can continue to count on Sequoia Climate Foundation to support your new independent institution and its valuable programs.
Thank you.
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