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Climate Vulnerable Forum and Vulnerable Twenty Fund (CVF & V20 Fund)

As of: May 2021

The complexity of climate change action across multiple policy pillars (environmental, social, economic, etc.) presents challenges, particularly for small island developing states (SIDS) and least developed countries (LDC). 48 of the most climate threatened nations constitute the Climate Vulnerable Forum (CVF) and the Vulnerable Group of Twenty (V20). They have established the CVF & V20 Joint Multi Donor Fund to enhance members’ capacities to deliver on key priorities on climate action, both in terms of mitigation and adaptation. Through its activities, it aims 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 works to help accelerate climate action, in particular through effectively implemented and further strengthened Nationally Determined Contributions (NDC), creating development benefits for local populations.

State of implementation/results

  • The CVF & V20 Joint Multi-Donor Fund has been launched in December 2020 through the contribution of Germany (the International Climate Initiative (IKI) of the Federal Ministry of the Environment (BMU)) and Bangladesh and the Marshall Islands. The Fund is administered by the United Nations Office for Project Services (UNOPS).The Technical Secretatiat of the Fund has been organized and is implemented by the Global Center on Adaptation (GCA).
  • The first meeting of the steering committee of the Fund, the Fund Board, took place on 17 December 2020, due to the corona virus pandemic as a virtual event. Members of the Fund Board are the three members of the so called CVF troika (Bangladesh currently as troika head, Marshall Island and Ethiopia) and up to three donors. These are - besides the BMU - since their joining the Fund in December 2020, the two foundations Quadrature Climate Foundation of the UK and Sequoia Sequoia Climate Fund of the USA.
  • On 29 January 2021, the second meeting of the Fund Board took place, among others to aprove the work plan for 2021. This work plan includes, among others, the following activities:
    • the development of climate prosperity plans in individual CVF & V20 members states, such as BGD; these plans do not only list goals for mitigation of emissions and adaptation to climate change, but complement those with economic and social objectives
    • the development of energy transition scenarios (envisioned in cooperation with the International Renewable Energy Agency (IRENA))
    • elaboration of the 3rd edition of the Climate Vulnerability Monitor, to be presented at the Conference of the Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC), COP 26 in Glasgow in November 2020
    • support to the Accelerated Finance Mechanism (AFC) (in cooperation with multilateral development banks) and the Sustainable Insurance Facility (SIF) (in cooperation with the Munich Climate Insurance Initiative (MCII) and in support of the InsuResilience Global Partnership).

Further Links

Project data

Country:
worldwide

Implementing organisation:
United Nations Office for Project Services (UNOPS)

Political partner(s):
  • Diverse climate change relevant institutions in the respective partner countries/Diverse klimarelevante Institutionen in den entsprechenden Partnerländern

Implementing partner(s):
  • Global Center on Adaptation (GCA)
  • Global Center on Adaptation (GCA)

BMU grant:
3.000.000,00 €

Duration:
12/2020  till  12/2023




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