V20
CLIMATE PROSPERITY PLANS
The Climate Prosperity Plans (CPPs), launched during Bangladesh’s Presidency of the CVF, is a pioneering medium-to-long term national investment plan that offers a structured, detailed and strategic approach to deliver Sustainable Development Goals (SDGs) and project pipelines to attract investment into economy-wide resilience and sustainable development.
The CPP aims to mobilize resources, deal teams, and green industrial policy support for CPPs as development-positive pipelines of resilient and low-carbon-to-net-zero compatible projects, taking into account climate risk management, technology innovation, economic trade and cooperation, and new funding options. The CPPs have three sections: (1) macroeconomic model; (2) projects and programs; and (3) green industrial policy.
KEY COMPONENTS OF CLIMATE PROSPERITY PLANS
Long-term Socio-economic Targets
The CPP sets ambitious targets for achieving sustained economic growth, poverty reduction, job creation, and improved living standards while integrating climate considerations into development planning.
Projects and Programs
The CPP identifies specific programs and projects that contribute to achieving the set-out targets.
Financing Options
The CPP outlines various financing mechanisms and sources to support the implementation of the plan’s projects and programs.
Legislation and Regulations
The CPP provides an in-depth assessment of existing policy and regulatory frameworks related to climate change and development and provide recommendations for strengthening and aligning them with the objectives of the CPPs
V20 SUPPORT IN THE IMPLEMENTATION OF CPPS
Action on the Ground
We provide regionally-based staff to continuously engage the government, track progress on projects, and represent interests to partners locally and globally.
Financing and Investment
We help with financial planning and investment options, organizing investor events, integrating funding initiatives into mobilization efforts, and coordinating support from philanthropic partners for projects/programs.
Knowledge and Sharing
We facilitate the country’s access to modeling platforms and knowledge-sharing opportunities with other CPP countries. We also provide guidance to adjust the strategies as needed based on implementation challenges.
Climate Prosperity Fellowship Programme
The Climate Prosperity Fellowship Programme was launched by the V20 Finance Ministers on 13 October 2023, at the sidelines of the 2023 Annual Meetings of the World Bank Group and International Monetary Fund in Marrakech, Morocco. The Fellowship Programme is in partnership with Boston University Global Development Policy Center and the Centre for Sustainable Finance at SOAS University of London.
This initiative aims to advance cooperation and engagement of officials from V20 Member Countries towards supporting development-positive climate action through Climate Prosperity Plans (CPPs) and addressing the challenges posed by out-of-date global financial architecture.
It will equip fellows with the latest research and analytics needed to accelerate the development, implementation, and financing of CPPs in their respective countries; while fostering collaboration on vital climate finance and sustainable development solutions.
There are 15 pioneering fellows who are mid- to senior-level finance officials from 13 V20 Member Countries: Bangladesh, Bhutan, Eswatini, Fiji, The Gambia, Ghana, Haiti, Honduras, Kenya, Maldives, Philippines, Rwanda, and Tonga.
