- Start Date: 12 December 2020
- End Date: 12 December 2022
- Bangladesh Ministry of Foreign Affairs / Economic Relations Division
- Marshall Islands Ministry of Foreign Affairs
- Ethiopia Environment, Forest and Climate Change Commission
- Germany Federal Ministry for Environment, Nature Conservation and Nuclear Safety
- Quadrature Climate Foundation
- Sequoia Climate Fund
- United Nations Office for Project Services
- United Nations Institute for Training and Research (UNITAR)
- Global Center on Adaptation
- CVF Expert Advisory Group
- Global Center on Adaptation
For Policy and Programme Issues
- Farida Yasmeen, Director, Ministry of Foreign Affairs, Bangladesh, email@example.com
- Amal Krishna Mandal, Joint Secretary, Economic Relations Division, Ministry of Finance, Bangladesh, firstname.lastname@example.org
- Mr. Alexander Ebhart, Fund Manager, UNOPS, email@example.com
- Ms. Sara Jane Ahmed, Technical Secretariat, Global Center on Adaptation, V20 Finance Advisor, firstname.lastname@example.org
|Organization||Approved budget (real-time)||Net Funded Amount (real-time)||Transfers (real-time)||Refunds (real-time)||Expenditure (annual)||Delivery rate (annual)|
|Global Center on Adaptation (GCA)||$2,276,242.00||$200,000.00|
|Projects by Activity in Work Plan||Approved budget (real-time)||Net Funded Amount (real-time)||Expenditure (annual)|
|Technical Secretariat Across All Activities||$2,276,242.00||$200,000.00||$1,138,121.00|
Participating Organizations are required to submit final year-end expenditures by April in the following year; Interim expenditure figures are submitted on a voluntary basis and therefore current year figures are not final until the year-end expenditures have been submitted.
Funds with Fund Manager
|Contributions from Donors||$5,655,264|
|Accrued Income (from Fund)||$0|
|Interest (from Participating Organizations)||$0|
|Fund balance transferred to another MDTF||$0|
|Refunds by Fund Manager to Contributors||$0|
|Total source of funds||$5,655,264|
Funds with Fund Manager
|Transfers to Implementing Partners||$0|
|Total source of funds||$0|
|Total Balance of Funds||$0|
|As a percentage of deposits||0%|
|Contributor/Partner||Commitments (real-time)||Deposits(real-time)||Deposit rate(rate-time)|
|BANGLADESH, government of||$100,000||$100,000||100%|
|MARSHALL ISLANDS, government of||$30,000||$30,000||100%|
|GERMANY (BMU), government of||$3,525,264||$3,525,264||100%|
|QUADRATURE CLIMATE FOUNDATION||$2,000,000||$1,000,000||50%|
|SEQUOIA CLIMATE FUND||$2,000,000||$1,000,000||50%|
The CVF & V20 Joint Multi Donor Fund is a voluntary, multi-stakeholder strategic financial and implementation tool that aims to facilitate the coordination among the respective member states of the Climate Vulnerable Forum (CVF) and Vulnerable Twenty (V20) Group of the Ministers of Finance of the CVF, to deepen South-South cooperation among the CVF and V20 members, and carries the overall aim of enhancing CVF and V20 members’ capacities to deliver on key priorities on climate action, both in terms of climate change adaptation and mitigation. The Fund, furthermore, aspires to ensure that the CVF and V20 members are able to coherently participate in and contribute to key global forums such as the UNFCCC and international economic governance related meetings to promote enhanced global cooperation, as well as national climate action. The priorities of the Fund are established by the CVF and V20 member states, in consultation and collaboration with various development partners, and the Fund’s scope covers advisory, communications, technical, organizational and logistical activities and support to facilitate the overall mandate and purposes of the CVF and V20. Fund interventions and support is organized towards fulfillment of the Fund aims according to four key output areas that are focused on enabling climate action by CVF and V20 members, on leveraging partnerships in support of the priorities and ambitions of the CVF and V20, on consolidating the south-south cooperation of CVF and V20 members, and on the promotion of global ambition through efforts of the CVF and V20. The work of the Fund is structured into two distinct but interrelated work streams, one concentrated on the CVF, with a climate and environmental policy focus, and the second concentrated on the V20, with an economic and financial focus.
The complexity of climate change action across multiple policy pillars (foreign, environmental, economic and others) presents challenges for the small island developing states, least developed countries and middle-income countries constituting the CVF and V20, who often have limited multilateral and domestic capacities. Without enhanced cooperation among CVF and V20 members, as well as with other partners, it would be difficult for these countries to effectively collaborate at the global level beyond the conventional bilateral, regional and thematic diplomatic ties. Moreover, South-South resource sharing and capacity development can lead to accelerated climate action and solutions across the CVF and V20 member states. As the CVF and V20 currently do not hold legal personality, they rely on institutional partnerships and financing from external resources to sustain coordinated and consistent climate action.
In this context, the CVF & V20 Joint Multi Donor Fund is established to facilitate the coordination among the respective member states, and to deepen South-South cooperation, with the overall aim of enhancing members’ capacities to deliver on key priorities on climate action, both in terms of climate change mitigation and adaptation. The Fund will also aspire to ensure that the CVF and V20 members are able to coherently participate in and contribute to key global forums such as the UNFCCC and international economic governance related meetings to promote enhanced global cooperation, as well as national climate action.
The Fund will also work to support economic and finance-related interventions, particularly in line with the program of action determined by the V20. These will concentrate on strengthening the capacities of the respective Ministries of Finance to address climate change, and promote continuous development of financial and economic policies to address growing climate concerns and avail on various opportunities. Furthermore, the Fund will aspire to take forward V20 financing instruments, and enhance V20’s abilities to catalyze and mobilize financial resources to address climate change.
Overall, the Fund, through its activities, will aim to contribute to the implementation of the UNFCCC, the Paris Agreement, as well as the UN Sustainable Development Goals (SDGs), with particular focus on Goal 13 on Climate Action. The Fund will accordingly work to help accelerate climate action, in particular through effectively implemented and further strengthened NDCs, both directly and indirectly create development benefits for local populations, particularly some of the world’s most climate threatened nations.
Members of the CVF and V20, including: Afghanistan, Bangladesh, Barbados, Bhutan, Burkina Faso, Cambodia, Colombia, Comoros, Costa Rica, Democratic Republic of the Congo, Dominican Republic, Ethiopia, Fiji, The Gambia, Ghana, Grenada, Guatemala, Haïti, Honduras, Kenya, Kiribati, Lebanon, Madagascar, Malawi, Maldives, Marshall Islands, Mongolia, Morocco, Nepal, Niger, Palau, Palestine*, Papua New Guinea, Philippines, Rwanda, Saint Lucia, Samoa, Senegal, South Sudan, Sri Lanka, Sudan, Tanzania, Timor-Leste, Tunisia, Tuvalu, Vanuatu, Viet Nam and Yemen.
*As UN non-member observer state
The Fund’s work and strategy will build on the accomplishments of CVF and V20’s activities and operations thus far, and be shaped by the outcomes and communique of the CVF Virtual Summit in November 2018, and its “Jumemmej” (or “vigilance”) Declaration, as well as the V20 Ministerial Dialogues. It will also endeavour to further the partnerships forged with various relevant partners and stakeholders, including the InsuResilience Global Partnership established by the V20 and G20. The Fund may support the CVF in its Partnership Initiatives, including to encourage all members to actively engage in the NDC Partnership to support the implementation of NDCs of developing countries. Specifically:
- Climate Action Enabled: High priority and member-determined capacity needs for accelerating adaptation and climate actions are met in an effective, timely and efficient manner. This will be achieved through enhancing sharing and exchange of expertise and experiences, catalyzation of transnational solutions, and development and provision of targeted knowledge tools and modules. To achieve this output, various global and regional collaborations will be sought to enhance access to public and private climate financing through new and innovative tools and approaches.
- Partnerships Leveraged: CVF and V20 members establish, foster and maintain effective linkages with international partners and initiatives (including development banks, UN organizations, and climate change initiatives, as well as civil society partners) that bring knowledge, technical resources and other assistance and collaboration to enhance the capacities of CVF and V20 members to deliver on their climate action ambitions.
- South-South Cooperation Consolidated: The 48 CVF and V20 members collaborate fluidly and increasingly at the global level across Africa, Asia, Caribbean, Latin America and the Pacific, and work together efficiently to deliver ambitious climate action with strengthened institutional capabilities. These include internal communications, financial structures, and established and operationalized practices to contribute to the realization of the Forum’s goals and priorities.
- Global Ambition Promoted: The CVF and V20 promote global climate action with both domestic and international efforts in the political, technical and economic spheres through high quality and regularly sustained Forum and leadership activities, including external communications (websites, social media, contributions to publications, op-eds and blogs) and dedicated support for relevant Forum officials, as well as communications related capacity development, and the establishment of communications tool for the benefit of CVF/V20 members and delegations, including engagement and events at critical international forums.
This section provides an overview of the Fund’s governance framework.
All Fund activities shall be financed through a central multi-donor Fund, for which the general principles of fiduciary responsibility shall apply. Under this agreement, the incoming resources shall be stipulated and allocated in the respective Project Agreements with UNOPS, which provides financial and grants management services to the Fund. These donor contributions shall then be accounted for, spent and reported against the Fund’s multi-year strategy and work programme, as well as biennial work plans and budgets that are derived from these.
The Fund Board
The Fund Board is conceived as the Fund’s main governance mechanism, and shall have the ultimate responsibility in directing and overseeing the substantive and programmatic aspect of the Fund. Accordingly, the Fund Board shall hold the programmatic accountability of the Fund, and will guide, approve and review its multi-year strategy and work programme, biennial work plans and resource allocations, and overall activities and operating modalities. The Fund Board may decide to establish different funding windows and mechanisms as a part of its long-term strategy and work programme.
The Fund Board shall also be responsible for facilitating the pre-selection of the Fund’s grantees for the written endorsement of all of its donors, unless UNOPS is requested to hold a competitive process to identify suitable grant recipients on its behalf, in collaboration with the Global Centre on Adaptation (GCA), as needed.
Specifically, the Fund Board shall be responsible for:
A) Deciding on the mission, vision, overall strategy and principles of the Fund;
B) Advocating the interests of the Fund, and encouraging political commitments to climate action;
C) Promoting the expansion of the Fund through partnerships, including with other potential donors and specialized UN agencies;
D) Supporting fundraising, and ensuring timely financial contributions of donors, as per their pledges and commitments;
E) Establishing performance measures and a monitoring framework for the Fund;
F) Approving the multi-year strategies and work programmes, as well as the Fund’s biennial work plans, and corresponding organograms and budgets, to be implemented directly by UNOPS or through specific grantees and/or implementing partners;
G) Managing the Fund’s governance processes, and setting out its operational modalities, including performance indicators for the Fund;
H) Guiding the substantive work of the Fund through the Global Centre on Adaptation;
I) Receiving advice from the Expert Advisory Group, considering, and deciding on it, and communicating its decision to the Expert Advisory Group, and requesting UNOPS and/or Global Centre on Adaptation;
To facilitate effective decision-making, the Fund Board shall be headed by the incumbent CVF/V20 Chair, who will have an ordinary term of two (2) years. The Board will be comprised of CVF/V20’s 3-member troika, including the CVF/V20 Chair, who will represent CVF/V20’s collective interests and priorities; and 3 donor representatives who shall represent the perspectives of the donors in consultation with other donors. Each of these six (6) members shall be entitled to one (1) vote. UNOPS as the Fund Manager, UNITAR, will be included to ensure the full alignment of the Fund activities with the UN principles, standards and regulations, as well as the SDGs and Paris Agreement, and serve as non-voting ex-officio members.
Donor representatives shall be selected every two years with two (2) donor seats allocated based on the higher proportion of contributions to the Fund, and one (1) seat to be selected by majority vote among all the eligible donors on a rotational basis. Ultimately, the selection will be made in consideration of the needs and best interest of the Fund and its Board.
Furthermore, the Expert Advisory Group (EAG), represented by its Chair, will also be asked to participate in an advisory capacity to provide substantive and technical support to the Fund Board, and help coordinate its interactions with the EAG. On the other hand, GCA, as the CVF/V20’s Managing Partner, will function as the Fund Board’s Secretariat.
The Fund Board will make its decisions on a consensus basis. The Fund Board Chair shall have the role of consensus builder, ensuring that unanimity is reached as seamlessly as possible. If this is not possible despite the best efforts of its members, the Chair may put the respective decision to vote, in which case a qualified (two-thirds) majority will be sought with UNITAR, UNOPS and an EAG representative being invited as requested to provide advice. In time sensitive situations, decisions may be taken by email, as necessary, to ensure expediency. All decisions will comply with UNOPS’s legislative framework, donor agreements and the Fund’s overall governance arrangements, in the order of precedence.
The EAG shall meet promptly upon the Fund’s commencement, and at least twice per year thereafter. Meetings may be conducted by video-conferencing. However, at least one meeting may be held in person each year. Ideally, meetings of the EAG should take place in conjunction with high-level climate events and/or meetings of the CVF/V20 or the Fund Board to enable cost efficiencies, as well as due consideration by the Fund Board of any recommendations by the EAG. Fund Board members shall be invited as observers to the EAG meetings.
The EAG Members shall be unpaid, except for the reimbursement of their travel and accommodation costs as appropriate through a per diem, and in accordance with the relevant UNOPS regulations.
UNOPS’s Fund Management Services
The United Nations Office for Project Services (UNOPS) shall provide efficient, flexible and accountable administrative, project, financial and operations management services to ensure the delivery of the Fund’s mission, vision and objectives, as well as efficient use of its resources. Accordingly, UNOPS shall facilitate the Fund’s work as a multi-donor platform, while also ensuring its linkages to UN’s work, as well as to the Sustainable Development Goals. This governance framework provides the basis of UNOPS’s responsibilities vis-à-vis the Fund.
On behalf of the Fund Board, UNOPS provides its management and support services in accordance with the Fund’s overall strategy and work programme, as well as annual work plans and budgets.
In delivering its services, UNOPS shall follow its legislative framework. Accordingly, UNOPS shall establish standardized project agreement(s) with each donor, receiving their contributions in tranches, maintaining fiduciary responsibilities for these funds, and providing regular reports and updates to the donors. Moreover, UNOPS will issue contracts to the relevant vendors (including grantees), and managing these and making disbursements on behalf of the Fund, and in line with its legislative framework.
Furthermore, as an operational arm of the UN with experience of supporting various partners, UNOPS shall apply its lessons learned and best practices proactively to support the Fund’s work.
GCA, as CVF/V20’s Managing Partner, shall function as the Fund’s technical secretariat, and will support the Fund Board in all aspects related to the Fund’s day to day management, including managing its technical aspects, liaising with the relevant implementing partners and grantees, and coordinating the meetings and activities of the Fund Board, in line with the Fund’s approved strategy and work programme, as well as annual work plans and budgets.
Implementing Partners and the Initiative Coordination Team
The Fund’s implementing partners consist of entities selected through a competitive process managed by UNOPS or through donor pre-selection, in accordance with UNOPS’s legislative framework. Implementing partners can be engaged at any time as required, and shall operate under a legal agreement with UNOPS. During the contractual relationship, the implementing partners operate under the supervision of UNOPS for all administrative and legal matters, and GCA on all substantive and technical considerations.
The Initiative Coordination Team (ICT) consists of representatives from each selected implementing partner and is led by the GCA.
The ICT shall meet virtually or physically, usually on a quarterly basis, and be chaired by the GCA. The ICT conducts a detailed review of the progress against the integrated Fund strategy, work programme and annual work plan, considers risks and challenges regarding its implementation. The meetings will be open to the attendance of the Fund Board members, as necessary and appropriate. In case conflicts arise within the ICT, the GCA shall escalate relevant technical issues to the Fund Board and administrative issues to UNOPS.