The V20 Group of Finance Ministers held its Senior Officials’ Meeting (SOM) on 27th and 28th of August, to discuss the financing initiatives of the Climate Vulnerable Forum (CVF) and V20. This meeting was held in preparation for the upcoming V20 Ministerial Dialogue which will take place during the 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG).

The Climate Vulnerable Forum signed a memorandum of understanding today with the Observer Research Foundation of India, to conduct joint work on climate change, including driving investments into clean energy and technology in the CVF’s 68 member countries. The MoU was signed by CVF Secretary-General, former Maldives president Mohamed Nasheed, and the President of ORF, Samir Saran.

The Voluntary Carbon Market Integrity Initiative (VCMI) signed a partnership agreement today with the Climate Vulnerable Forum and its V20 Finance Ministers (CVF-V20) to enable carbon finance opportunities for CVF-V20 member states through high-integrity carbon market mechanisms.

We, the Ministers and Senior Representatives of the V20 Finance Ministers of the Climate Vulnerable Forum (CVF) from Africa, Asia, the Caribbean, Latin America, the Middle East, and the Pacific, met in Washington, D.C. United States of America on 16 April 2024, during the Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group to discuss, agree, and deploy national, regional, and global strategies to unlock growth and prosperity through innovations in climate finance and debt.

Ministers from the 68 climate-vulnerable developing countries that make up the Climate Vulnerable Forum (CVF) have called for major reforms of the international financial system to allow developing countries to access the finances needed for them to meet their ambitious climate goals.

V20 Senior Officials from the 68 climate-vulnerable countries of the Climate Vulnerable Forum (CVF) convened virtually to take stock of the V20’s climate finance agenda in preparation for the Finance Ministers meeting during the Spring meetings of the World Bank and International Monetary Fund (IMF) in Washington D.C.

In a landmark event, Climate Vulnerable Forum (CVF) heads of state, finance ministers, investors and key stakeholders convened in Davos, Switzerland to discuss resource mobilisation for CVF member countries’ Climate Prosperity Plans (CPPs).

The Climate Vulnerable Forum (CVF) is composed of 68 developing countries most threatened by the global climate emergency, representing 1.74 billion people and USD 3.8 trillion in gross domestic product. The CVF-V20 Presidency is vested in the Government of Ghana and the incoming presidency is the Government of Barbados. T

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oint press release of Vulnerable Group of Twenty (V20) and the German Ministry for Economic Cooperation and Development (BMZ), 25 May 2023 – The governing body of the InsuResilience Global Partnership decided on the Global Shield’s operating model today. This is a big step from the initial idea conceived one year ago, to agreeing on the concept and launching it last fall, to making the Global Shield fully operational now. The meeting took place on the sidelines of the African Development Bank Group Annual Meetings in Sharm el-Sheikh, Egypt. Leadership adopted the Global Shield Governance Structure, agreed on the details of the respective in-country processes and endorsed the framework for country prioritization. These decisions are crucial for effectively supporting vulnerable countries in responding to losses and damages from extreme weather events. They aim at systematic (focus on the most urgent needs), coherent (interplay of different actors and instruments) and sustained protection against climate risks for vulnerable countries and people.

20 March 2023 –

ACCRA, 27 February 2023 – Following the announcement of a change of leadership at the helm of the World Bank Group, the Chair of the Vulnerable Twenty Group of Ministers of Finance (V20) asserts that global development needs an international financial system that is fit-for-purpose given the prevailing climate crisis; and urges that the next head of the World Bank puts climate amongst its top priorities. Reacting to the resignation of the World Bank President, David Malpass, H.E. Ken Ofori-Atta, Hon. Minister for Finance of Ghana and V20 Chair, highlighted that “major reforms to the world’s international financial architecture are urgently needed to prevent the escalating climate crisis from overwhelming the global economy.”

He specifically called for change in the areas of debt; the shifting of financial flows to serve climate goals; and the need to mainstream climate risks in institutional surveillance. He demurred at the continual inequities in keeping to the 1.5C safety limit of the Paris Agreement.

25 Oct 2022 – Climate-fueled risks have driven up the cost of capital and debt to unsustainable levels, especially across climate vulnerable economies, worsening financial protection gaps. Increasing pre-arranged finance which disburses quickly and reliably before or just after disasters happen, and expanding instruments of financial protection for governments, communities, businesses, and households can lower the impact of disasters, make vulnerable countries’ economies more resilient, safeguard sustainable development, and protect lives and livelihoods of poor and vulnerable people.

The G7 in partnership with the Vulnerable Twenty Group (V20) of Finance Ministers from the most climate vulnerable countries want to help close the protection gap for poor and vulnerable people against climate-related losses and damages.

Washington DC, USA & Accra Ghana, 15 December 2022 – The GEF Climate adaptation funds support the V20’s funding program with $5.3 million for community-based adaptation activities and will also leverage funding from other sources including those that will provide complementary support to address loss and damage from climate change.