Ken Ofori-Atta to chair V20 Ministerial Dialogue on climate change

Science & Environment Ken Ofori-Atta to chair V20 Ministerial Dialogue on climate change
OCT 14, 2022 LISTEN

Mr Ken Ofori-Atta, the Finance Minister, will on Sunday, chair the G20 Ministers of Finance annual dialogue in Washington DC.

The meeting, aimed at tackling climate change issues affecting vulnerable economies, is part of the ongoing IMF-World Bank annual meetings.

It will be attended by Finance Ministers from Africa, Asia, the Caribbean, Latin America, the Middle East, and the Pacific.

The dialogue comes on the background of the Climate Vulnerable Economies Loss report, which noted that V20 economies lost about $525 billion in two decades.

Therefore, the V20 Finance Ministers’ dialogue will discuss debt repayments to finance climate action and climate prosperity plans.

This is to support ongoing initiatives between G7 and G20 countries to tackle global climate finance, loss and damage issues.

The dialogue will also tackle issues of V20 as an official group within the IMF and World Bank as well as IMF’s newly created resilience and sustainability trust.

In a press statement on the chairmanship of the dialogue, Mr Ofori-Atta, said: “Ghana welcomes the challenge of leading the world’s biggest grouping of climate-vulnerable economies to find ways to protect economic growth amidst growing risks posed by climate change.”

“We aim to keep our economies thriving, provide jobs for our people and protect our industries, while advocating for solutions to the climate crisis.”

Formed in 2015, the V20 Group of Finance Ministers is a dedicated cooperation of economies systematically vulnerable to climate change.

V20 Group members are also states of the Climate Vulnerable Forum (CVF). V20 Group membership stands at 58 economies, representing some 1.5 billion people, including Afghanistan, Bangladesh, Barbados, Benin, Bhutan, Burkina Faso, Cambodia, Chad, Colombia, Comoros, Costa Rica, Côte d’ivore, Democratic Republic of the Congo, Dominican Republic, Eswatini, Ethiopia, Fil.

Others are: The Gambia, Ghana, Grenada, Guatemala Guinea, Guyana, Hat, Honduras, Kenya, Kiribati, Kyrgyzstan, Lebanon, Liberia, Madagascar, Malawi, Maldives, and Marshall Islands.

The rest are: Mongolia, Morocco, Nepal, Nicaragua, Niger, Palau Palestine, Papua New Guinea, Philippines, Rwanda, Saint Lucia, Samoa, Senegal, South Sudan, Sri Lanka Sudan, Tanzania, Timor-Leste, Tunisia, Tuvalu, Uganda, Vanuatu Viet Nam and Yemen as a UN non-member observer State.