NEWS

28.09.2015

Philippines to lead new climate finance group for most vulnerable countries

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The Philippines will lead 19 other countries next month in establishing a group to mobilise funds to help nations most vulnerable to climate change to become more resilient to the effects of global warming, the Climate Vulnerable Forum (CVF) said on Friday.

Philippines Finance Secretary Cesar Purisima will chair the inaugural meeting of the Vulnerable 20 (V20) group of finance ministers on Oct 7-8 in Lima, Peru, ahead of the annual gatherings of the World Bank and the International Monetary Fund (IMF).

The Philippines is among the world's 10 countries most affected by climate change-induced disasters, according to the Global Climate Risk Index 2015.

The V20 will "enable vulnerable countries to steer a high-level policy dialogue" on climate change and promote climate resilience and low carbon dioxide emissions, according to a statement by the CVF, a platform for vulnerable countries to address issues related to global climate change.

The V20 aims to develop new approaches to climate finance and strategies to improve how public and private funds are disbursed after disasters, the CVF said.

It also aims to share best practices on dealing with disasters and their economic impact.

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  • Climate Vulnerable Forum (CVF)
  • V20
  • Vulnerable 20 (V20)