Summary of the Senior Officials’ Meeting delivered by Ms. Abena Takyiwaa Asamoah-Okyere, Technical Advisor to the Minister for Finance and Economic Planning, Ghana
V20 MINISTERIAL DIALOGUE XII
16 April 2024
Washington D.C., USA
Summary of the Senior Officials’ Meeting delivered by Ms. Abena Takyiwaa Asamoah-Okyere, Technical Advisor to the Minister for Finance and Economic Planning, Ghana
Thank you, Chair. It is my honor to present to you the report of the Senior Officials Meeting of the V20 Group that was held virtually on the 13th and 14th of March 2024. A comprehensive account of the Senior Officials Meeting is captured in the sum report, a copy of which has been shared with member states in advance of today’s dialogue.
In the Advocacy and Partnerships Focus Group, the meeting took note of the development in international financial architecture reforms, opportunities for injecting momentum in key V20 asks on IFI reforms through Accra to Marrakech Agenda, engagements in the G20 Sustainable Finance Working Group and V20 Regional Consultations.
The V20 Work Program for 2023 until 2025 was also discussed, including progress of the Independent Secretariat and the 12th V20 Ministerial Dialogue, and compiled the draft decisions document and the communique which is to be adopted today.
In the Climate Accounting Focus Group, Senior Officials discussed key COP29 climate finance issues such as the New Collective Quantified Goal. Senior officials also took note of implementation work on Internationally Transferred Mitigation Outcomes (ITMOs) and voluntary carbon markets with a view towards compliance markets in the future.
In the Risk Focus Group, senior officials took note of the implementation progress of the V20 G7 led Global Shield Against Climate Risks, and phase 1 of the V20 Loss and Damage Funding Program in Kenya, Malawi and Bangladesh and phase 2 in the Pacific and Ghana. The SOM also took note of the presentation on debt and physical space analytics and solutions such as standard operating procedures on debt swaps.
Chair, on the Joint Technical Committee deliberations, senior officials took note of the current and planned activities on Climate Prosperity Plans and the CPP fellowship program. The meeting also shared a draft concept on a just energy transition, as well as various evidence building pieces, such as a second V20 Debt Review, and International Taxation Analytics.
This, Chair, concludes my report for the V20 Senior Officials’ Meeting, and I submit our meeting report for your consideration and adoption.
Thank you.
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