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1st V20 Climate Vulnerables Finance Summit

Thursday 8 July 2021 – 1.30pm to 3.00pm GMT

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To contribute new momentum behind economic and finance solutions for a just, resilient, and green recovery, the Vulnerable Twenty Group (V20), led by Bangladesh, is convening an inaugural Climate Vulnerables Finance Summit.

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DETAILED PROVISIONAL PROGRAM

ITEMS

OPENING AND LEADERS SESSION

70 mins

HIGH-LEVEL STATEMENTS

Keynotes – Regional Viewpoints Heads of State and Government
Select global thought leader

H.E. Sheikh Hasina, MP
Chair of the Climate Vulnerable Forum (CVF)
Hon. Prime Minister of Bangladesh

H.E. Sahle-Work Zewde
Hon. President of Ethiopia
H.E. Iván Duque Márquez
Hon. President of Colombia
H.E. Carlos Alvarado Quesada
Hon. President of Costa Rica
H.E. Christopher Loeak
Hon. Acting President of the Republic of Marshall Islands
H.E. António Guterres
Secretary-General of the United Nations
H.E. John Kerry
Hon. United States Special Presidential Envoy for Climate
H.E. Rt Hon Alok Sharma, MP
COP26 President Designate, United Kingdom
Mr. David Malpass
President, World Bank Group
Mr. Masatsugu Asakawa
President, Asian Development Bank
Mr. Jin Liqun
President, Asian Infrastructure Investment Bank
Mr. Werner Hoyer
President, European Investment Bank
H.E. Ban Ki-moon
Chair of the Board, Global Center on Adaptation and 8th Secretary-General of the United Nations
H.E. Sheikh Hasina, MP
Chair of the Climate Vulnerable Forum (CVF)
Hon. Prime Minister of Bangladesh

Opening and Leaders’ Session Moderator

H.E. Mohamed Nasheed
CVF Founding Chair & Thematic Ambassador for Ambition
Hon. Former President of the Maldives, Speaker of the People’s Majlis

MINISTERIAL ROUNDTABLES

80 mins

Chair of the V20 Ministerial Dialogue VII

H.E. AHM Mustafa Kamal, MP
Hon. Minister of Finance of Bangladesh and V20 Chair
Ms. Fatima Yasmin
Secretary, Economic Relations Division of Bangladesh
Presentation of the report of the Senior Officials

PLANETARY RECOVERY & PROSPERITY

H.E. Md. Shahab Uddin, MP
Hon. Minister of Environment, Forestry and Climate Change of Bangladesh

V20 Ministers of Finance

H.E. Ibrahim Ameer
Hon. Minister of Finance and Treasury of Maldives
H.E. Lyonpo Namgay Tshering
Hon. Minister of Finance of Bhutan
H.E. Michel Patrick Boisvert
Hon. Minister Economy and Finance of Haiti
H.E. Mambury Njie
Hon. Minister of Finance and Economic Affairs, The Gambia
H.E. Ajith Nivard Cabraal
Hon. State Minister of Money & Capital Market and State Enterprise Reforms of Sri Lanka
H.E. Dr. Uwera Claudine
Hon. Minister of State in Charge of Economic Planning of Rwanda
Ms. Liliam Rivera
Undersecretary of Credit and Public Investment, Ministry of Finance of Honduras
Ms. Paola Alvarez
Assistant Secretary of Finance of the Philippines

G20 and Key Partners

H.E. Rt Hon Rishi Sunak, MP
Hon. Chancellor of the Exchequer of the United Kingdom
Dr. Maria Flachsbarth
Parliamentary State Secretary, Federal Minister for Economic Cooperation and Development of Germany
Mr. Vitor Gaspar
Director, Fiscal Affairs Department of the International Monetary Fund
Mr. Carlos Manuel Rodriguez
CEO and Chairperson of Global Environment Facility
Mr. Yannick Glemarec
Executive Director of Green Climate Fund
Mr. Francesco La Camera
Director-General of International Renewable Energy Agency
Mr. Toshinori Doi
Director of ASEAN+3 Macroeconomic Research Office

V20 VISION & WORK PLAN

H.E. Dr. A.K. Abdul Momen, MP
Hon. Minister of Foreign Affairs or Bangladesh

V20 Ministers of Finance

H.E.. Gregory Bowen
Hon. Minister of Finance of Grenada
H.E. Lassané Kabore
Hon. Minister of Economy, Finance, and Development of Burkina Faso
H.E. Elian Villegas Valverde
Hon. Minister of Finance of Costa Rica
H.E. Alfred Alfred Jr.
Hon. Minister of Finance of Marshall Islands
H.E. Rui Augusto Gomes
Hon. Minister of Finance of Timor-Leste
H.E. Ryan Straughn
Hon. Minister of Finance, Barbados
H.E. Alvaro González Ricci
Hon. Minister Finance of Guatemala
H.E. Amb. Ukur Yatani Kanacho
Hon. Cabinet Secretary of The National Treasury and Planning of Kenya
H.E. Yasmin Wohabrebbi
Hon. State Minister for External Economic Cooperation of Ministry of Finance of Ethiopia
Ms. María José Martínez
Vice Minister of Finance of Dominican Republic
Ms. Abena Osei-Asare
Deputy Minister of Finance of Ghana
Mr. Amadou Lamine Guissé
Permanent Secretary of the Ministry of Environment and Sustainable Development of Senegal

G20 and Key Partners

Mr. Jochen Flasbarth
State Secretary, Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, Germany
Baroness Bryony Worthington
Co-Director, Quadrature Foundation
Mr. Lo Sze Ping
Program Director, Sequoia Climate Foundation
Ms. Grete Faremo
Executive Director of United Nations Office for Project Services
Dr. Xiaomeng Shen
Vice-Rector in Europe and Director of UNU-EHS
Ms. Ekhosuehi Iyahen
Secretary General of Insurance Development Forum
Ms. Kate Hampton
Chief Executive Officer of Children’s Investment Fund Foundation

MINISTERIAL DIALOGUE NEXT STEPS, DECISION & CLOSING

Mr. Abul Kalam Azad
Climate Vulnerable Forum Special Envoy

EVENT DESCRIPTION

A spiralling, dual climate-Covid crisis has shaken vulnerable developing economies, undermined livelihoods and sustainable development progress, and generated unprecedented transnational financial upheaval with multiple penalties for the world’s poor and vulnerable groups. At the same time, weak delivery of international climate finance, unresolved carbon finance mechanisms under the Paris Agreement, and financing instruments that are ineffective at addressing challenges specific to systemically climate vulnerable economies hold back ambition are exposing the world economy to acute risks, fuelling uncertainty, and undermining trust and the global recovery.

Overcoming such challenges on the road to UNFCCC COP26 is an urgent priority and targeted initiatives that promote action on managing macroeconomic risks, capital hurdles to climate action, bridging the financial protection gap, among other key climate finance challenges, also represent a significant opportunity to build back better.

To contribute new momentum, the V20, led by Bangladesh, is convening “Climate Vulnerables Finance Summit” – the first intergovernmental finance summit led by economies systemically vulnerable to the global climate crisis. The Summit builds on the Midnight Survival Deadline for the Climate, spearheaded by the Bangladesh presidency of the Climate Vulnerable Forum (CVF) and V20, and contributes to over 70 nations revising their Paris Agreement national commitments, as well as the Climate Adaptation Summit 2021, the G7 Summit outcome for increasing climate finance and funding for climate change adaptation, and other recent pledges of strengthened climate responses from major and vulnerable economies and international financial institutions alike.

Prepared and hosted by the V20, and co-hosted with the Global Center on Adaptation, the Summit will be headed by global leaders, includes ministerial roundtables, and will feature interventions by CVF Heads of State and Government, high-level representatives of key partners, and the V20 Ministers of Finance. Together with the United Nations, the IMF and development partners, the high-level dialogue aims to shape globally cooperative and South-South responses for fast-tracked resilience building efforts and bold new economic and finance actions and partnerships that are updated for the evolving realities of tandem climate and COVID pressures. The Summit likewise serves as a critical opportunity to showcase all that the most climate threatened nations have been facing and undertaking, while exploring appropriate and enhanced responses with the international community. An effective recovery and resilient and prosperous future demands global and regional economic and financial cooperation and institutions consistent with the needs, and supportive of the ambition, of the most vulnerable.

The Summit will issue a Communique highlighting the key expectations of the vulnerable economies on global climate finance, cooperation with multi-lateral financial institutions, and COP26, as well as partnerships being advanced together with the V20, including:

  • Launch of the V20 Vision 2025 to underpin the direction of the V20 to reach key socio-economic growth outcomes together amid a climate-covid emergency;
  • Shaping of a V20 Climate Prosperity Recovery Agenda for the systematic and universal consideration of climate risk and to promote enabling assistance options including capacity development, crisis assistance and carbon financing;
  • Presentation and partnership exploration on national “Climate Prosperity Plans” as strategic economic-climate-SDG investment and cooperation frameworks to advance V20 ambitions for resilience and prosperity at the economy-level – the Government of Bangladesh will present the Mujib Climate Prosperity Plan Decade 2030, named in honor of marking the birth centenary of the country’s Father of the Nation, Sheikh Mujibur Rahman;
  • Innovative V20 financing initiatives including the Accelerated Financing Mechanism to address capital cost challenges, the Sustainable Insurance Facility and the InsuResilience Global Partnership to bridge the financial protection gap, and the new CVF & V20 Joint Multi-Donor Fund.
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